Bitcoin Cash Price BCH

About Bitcoin Cash

Bitcoin cash is a digital currency and a decentralized payment network all in one. It was created in December 2017 due to a Bitcoin hard fork with the goal of processing more transactions in mind.

The cryptocurrency's official website describes it as an Internet-based peer-to-peer electronic currency. It's completely decentralized, there's no central bank, and it doesn't operate through trusted third parties. It is not uncommon for cryptocurrencies such as bitcoin to fork, but a common consensus is usually reached on which cryptocurrency to use. If the two blockchains cannot agree, a new coin or token is created. Bitcoin cash was the cryptocurrency in question in this instance. There was a dispute over how to best ramp up the block limit, which prompted the hard fork.

A group of powerful bitcoin miners, investors, and developers favored the SegWit2x protocol, which was set to be implemented in August 2017 on the bitcoin network. On the other hand, Bitcoin cash was created by those who were opposed to the original protocol.

How it works

Bitcoin cash supporters said it was closer to Satoshi Nakamoto's design, the anonymous creator of bitcoin believed to have secretly implemented the 1MB block size restriction. However, Nakamoto also stated that it was possible to phase in changes later if they ever needed to. He predicted that decreased storage costs and increased internet speeds would allow blockchains to grow in size without compromising the idea of a decentralized currency. Since its inception, bitcoin cash has grown to be one of the most popular forks of the original digital currency. Early adopter Roger Ver is an outspoken proponent of the digital asset known as Bitcoin Cash when it comes to bitcoin. Ver has been a vocal proponent of bitcoin since its inception in 2011 as a way to promote economic freedom. The lower transaction fees and shorter transaction times of bitcoin cash have won him over.

Release Time： 2017-08-01

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