Bitcoin Cash (BCH)
Bitcoin Cash statistic
What is Bitcoin Cash (BCH)?
Bitcoin Cash (BCH) is a new version of traditional Bitcoin. It was obtained in a hard fork of the original blockchain. Within the confines of the standard protocol, Bitcoin Cash replicates the original Bitcoin in almost everything, namely the PoW with the SHA-256 hashing algorithm, the total number, and size of the 21 million tokens issued, the block mining time, and the identical rewards system.
Bitcoin Cash History
Bitcoin cryptocurrency has many pros, but it also has some problems. These are small block size, low confirmation rate, and high transaction fee, and these disadvantages began to appear more and more over time. One of the attempts to solve these issues was the appearance of Bitcoin Cash, a hard fork, working on the same principles but with different technical nuances.
On August 1, 2017, the Bitcoin hard fork created the Bitcoin Cash cryptocurrency. The history of Bitcoin and Bitcoin Cash were identical before the hard fork. Everyone who controlled the secret keys of a certain amount of their Bitcoins or stored them on an exchange supporting the new currency automatically received the same amount of Bitcoin Cash.
What Is The Difference Between Bitcoin And Bitcoin Cash
People who are thinking what is the difference between BTC and BCH should consider the following aspects:
- Block size. While the block size of the original Bitcoin is going to be increased to 2 MB, in the Bitcoin Cash system, the block size has already been increased to 8 MB. This means that transactions in BCH are much faster and with lower fees than in BTC.
- New security standards. The Bitcoin Cash system applies replay and wipeout protection.
- Changing complexity. The very complexity of the BCH system and network will happen much faster than in the standard Bitcoin network. So, if the hash rate of the whole network increases, then the complexity itself will also increase.
- Next Generation Transfers. Today's security technology also includes an innovative type of complexity recalculation, which allows for transactions with another security feature. Namely, signing the input value, to improve wallet security and eliminate quadratic hashing problems.
And the main advantage of Bitcoin Cash over the original BTC is the cost of transactions in this system. It is much lower than Bitcoin. So, the currency can be easily paid for even small purchases and make small transfers, which in the case of the original cryptocurrency remains impossible.
BCH Mining Options
Since this token has numerous advantages, more and more people start thinking about how to mine Bitcoin Cash. They can do it using one of 3 ways.
The most effective way of mining is to use video cards. Miners can install several modules on a farm to increase the overall performance. Such a solution pays off much faster, and you can start earning easier.
With a processor, the efficiency is significantly lower, as well as the amount of profit. But such a solution has advantages. There is lower power consumption. Moreover, the heating of the system decreases, and it is possible to reduce the cost of assembling. For this option, it is necessary to use processors from the Intel Core i7, Xeon, AMD Ryzen series. They have high performance and can be used for mining.
The most innovative solution is cloud mining. The system is relatively simple: the company purchases and configures the equipment and rents the power to the miners. A miner can connect his equipment to the system and start mining cryptocurrency.
Emission refers to the generation of new cryptocurrencies in a particular blockchain system. Since Bitcoin Cash is a fork of the first cryptocurrency BTC, they should have the same limit of 21,000,000 coins issued. At the same time, 15,000,000 appeared immediately after branching because the BCH blockchain completely copies the original chain of Bitcoin blocks.
The remuneration to miners is 12.5 coins for each block signed. Halving in Bitcoin Cash happens the same way as in the Bitcoin network (every 4 years).
Many cryptocurrency analysts, who have great authority in the field of digital currencies, have a controversial BCH price prediction. They believe that Bitcoin Cash will develop slower than the original Bitcoin.
At the same time, Bitcoin Cash also has good prospects for development and growth in the future. Since this currency solves many of the problems of the original Bitcoin, BCH certainly has a place in the digital market. During its existence, Bitcoin Cash price was increasing, and able to find many followers and gain serious support from major players in the digital market. Accordingly, Bitcoin Cash is also trusted by many crypto users, who simply will not let this asset collapse.
Bitcoin Cash Price Live
The current BCH coin price is 440.2375 USD.
“Bitcoin Cash is the version of Bitcoin in which the original properties of digital money still exist.” — Roger Ver, the Bitcoin Jesus.
“Money print policies will benefit the crypto sector, inflation will be strong and money will go into Bitcoin Cash.” — Jihan Wu, the co-founder of Bitmain.
“Bitcoin Cash is what I started working on in 2010: a store of value AND means of exchange.” — Gavin Andresen, an early Bitcoin developer.
“I’ve met only one person that called Bitcoin Cash a scam. That person didn’t know anything about Bitcoin Cash.” — Adrian Barwicki, a blockchain developer and Honest.cash founder.
Bitcoin Cash Summary
Bitcoin Cash is a coin, the characteristics of which fully meet the modern demands in the world of cryptocurrency. It has both high transaction speed and strong security. So, many investors buy Bitcoin Cash because they believe it should be on par with the classic Bitcoin in some time.
Where To Buy Bitcoin Cash Coin?
If you are looking for where to buy Bitcoin Cash coin, we will show you how to buy BCH cryptocurrency for another crypto using the StealthEX exchange platform. It’s a super-friendly, non-custodial and limitless cryptocurrency exchange platform. So if you already have savings in crypto and wish to invest in BCH coin, just go to StealthEX and follow these easy steps:
- Choose the pair and the amount for your exchange. For example ETH to BCH.
- Provide the recipient address to which the coins will be transferred.
- Move your cryptocurrency for the exchange.
- Receive your BCH coins.