Bitcoin Cash priceBCH
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About Bitcoin Cash
About Bitcoin Cash
With its surged popularity, Bitcoin has faced issues like slow processing speed, high transaction fees, and scalability. Different strategies were offered to address these challenges. Among them, altering the core rules of the Bitcoin blockchain stands out as a prominent solution to enhance processing speed.
Bitcoin Cash (BCH) was introduced in 2017 as a hard fork of the original Bitcoin (BTC). The idea behind this fork was to increase Bitcoin's block size to enhance network performance. However, the majority of nodes opposed the proposal, leading to the hard fork and the creation of Bitcoin Cash as a separate entity from Bitcoin at block number 478,558. Though both cryptocurrencies have a common genesis, they now function on two distinct chains.
For those holding Bitcoin at the time of the split, an equivalent amount of Bitcoin Cash was allocated to their wallets. Bitcoin Cash itself underwent further forks, most notably leading to the creation of Bitcoin SV (BSV) in November 2018. These forks have caused ongoing debates within the community and have led to a fragmentation of support.
Official website: https://bch.info/en/
How does Bitcoin Cash work?
Bitcoin Cash functions similarly to Bitcoin, operating as a public decentralized digital ledger that uses the Proof-of-Work consensus mechanism,known as SHA-256, relies on nodes to validate transactions, and has a fixed total supply of 21 million tokens. Miners receive Bitcoin Cash tokens as rewards for solving cryptographic puzzles and confirming transactions on the blockchain.
The main difference between Bitcoin and Bitcoin Cash is the block size. While Bitcoin only has a 1 MB block limit and can process roughly seven transactions per second, Bitcoin Cash has 32 MB per block capacity, allowing for over a hundred transactions per second. This increased block size and faster processing lead to lower fees, with most transactions on the Bitcoin Cash network costing less than US$1, in contrast to Bitcoin's high fee.
In cryptocurrency, speed and affordability often mean greater accessibility, and Bitcoin Cash excels in these areas. However, it also faces criticism regarding network security. Detractors argue that the quicker and cheaper transactions are possible due to less required mining, possibly making Bitcoin Cash less secure than Bitcoin and raising questions about the network's integrity.
In conclusion, Bitcoin Cash has made significant strides in enhancing transaction speeds and reducing fees. Though not without controversy, its innovations represent a notable advancement in the evolving cryptocurrency landscape.
It's important to note that like any other cryptocurrencies, Bitcoin Cash carries its own risks and it's always wise to do your own research and exercise caution while investing.
Related Articles about Bitcoin Cash
BCH to local currencyCrypto calculator
- 1 BCH to USD$228.36
- 1 BCH to JPY228.36273
- 1 BCH to VND228.36273
- 1 BCH to RUB228.36273
- 1 BCH to EUR (Español)228.36273
- 1 BCH to TRY228.36273
- 1 BCH to EUR (Italiano)228.36273
- 1 BCH to EUR (Français)228.36273
- 1 BCH to EUR (Deutsch)228.36273
- 1 BCH to CNY228.36273
- 1 BCH to TWD228.36273
- 1 BCH to EUR (Português)228.36273
- 1 BCH to IDR228.36273
- 1 BCH to THB228.36273
- 1 BCH to PLN228.36273
- 1 BCH to UAH228.36273
- 1 BCH to SEK228.36273
- 1 BCH to UZS228.36273
How to buy Bitcoin Cash (BCH)
Trade BCH perpetual futures
After having successfully signed up on Bitget and purchased USDT or BCH tokens, you can start trading derivatives, including BCH futures and margin trading to increase your income.
The current price of BCH is $228.36, with a 24h price change of +1.07%. Traders can profit by either going long or short onBCH futures.