Bitcoin Cash - this is a fork of Bitcoin, we can say, another bitcoin, which increased the volume of the block of information and introduced a new digital signature algorithm.
One of the rules of cryptocurrency is the immutability of the block chain. If there are problems that require changing the system, then the blockchain is divided into two independent branches. As a result, a fork appears, that is, a new virtual coin that is created on the basis of the original program code. Bitcoin cash is a cryptocurrency that appeared after the separation of the Bitcoin block chain.
Bitcoin Cash - this is a payment tool with high confidentiality and fast transaction processing, with a record block size of up to 32 MB.
The first block of bitcoin was created on January 3, 2009, the network grew, the load in the system increased. In 2017, the load increased so much that it was necessary to take drastic measures to increase the capacity.
The network remained in the same mode, but the structure of data storage and the algorithm for verifying transactions changed. New addresses appeared, which caused difficulties when transferring to old bitcoin addresses that did not support changes in the protocol, the problem was soon solved. But, not all developers liked it.
One of the members of the Bitcoin team decided to go the other way and spent with like-minded people on the 478558th block of the bitcoin hard fork network, as a result of which the digital coin Bitcoin cash appeared. And all holders of the first bitcoin received cash bitcoin to their wallets.
1. Low fees.
2. Transaction speed. Bitcoin Cash pools process 100 transactions per second, and Bitcoin pools barely three.
3. A mechanism for protecting against erasure and re-execution of transfers. For the security of the transaction, a separate digital signature can be placed under the transaction amount.
4. Bitcoin cache allows you to adjust the complexity of mining every 6 blocks, and bitcoin through 2016.
In 2018, the Bitcoin cash network experienced its own hard fork, resulting in the Bitcoin SV cryptocurrency.
The Bitcoin Cache network, like the original bitcoin, works on the Proof-of-Work principle. Miners process transactions and ensure the security of the system.
To calculate the bitcoin cash block, you need an ASIC device, which is an electronic device that was created to generate bitcoin cash, bitcoin, and BitcoinSV, and other cryptocurrencies.
BCH mining on ASIC is not inferior to bitcoin mining in terms of profitability.
In January 2019, the server for collective mining-btc. top controlled over 51% of the power of the BCH network, which is a threat to decentralization, but the problem was solved.
The number of working miners also determines the security of the system, the more of them, the more decentralization increases.
Bitcoin Cash is a fork of bitcoin, so the number of coins issued should be 21,000,000. At the same time, 15,000,000 appeared immediately after the fork, as the BCH blockchain completely copies the btc block chain.
The reward for miners is 12.5 coins for each block. A twofold reduction in payment in the bch network occurs in the same way as in the bitcoin network every 4 years.
BCH cryptocurrency is quite popular and is sold on many exchanges on the Internet, as well as in numerous exchangers.
You can also buy bitcoin cash from individuals on the P2P trading platform LocalBitcoinCash.org.
On online exchanges, the exchange rate is more favorable, but to purchase cryptocurrency, you must pass the standard account verification.
Official BCH wallet, the same as for BTC Ч Bitcoin.com, allows you to store bitcoin and bitcoin cash in the same wallet.
You can also use the Bitcoin Cash software wallets: Trust wallet; Electron Cash; Exodus; Bitpay; Badger Wallet.
Bitcoin Cash is a successful fork of Bitcoin, the project is developing, bch is one of the three most popular crypto coins. If there are no restrictive measures against cryptocurrencies in the leading world powers, then the price of bch will continue to rise, just like bitcoin.
The popularity of blockchain and cryptocurrencies in the World is increasing every day, more and more companies and individuals are investing in various tokens, and if the BCH development team develops its project, it will be able to attract many new investors and the Cash Bitcoin coin will not lose its position in the cryptocurrency rating.