Bitcoin Cash (BCH) is a cryptocurrency which is the result of a Bitcoin hard fork as some developers are concerned about the time and usage limitation on Bitcoin blockchain. supporters proposed that the size of blocks should be increased so that miners would step up to increase capacity; however, the large mining companies could take advantage of this kind of approach. SegWit is another approach proposing that information could be stored separately from blockchain. Bitcoin Cash had split into two other networks, due to discrepancy on Coinbase Rule, in which miners will be paid as a fund, supporting the two networks which are Bitcoin Cash ABC that supports Coinbase Rule and Bitcoin Cash Node that opposes Coinbase Rule.
Who are the founders of Bitcoin Cash?
Bitcoin protocol underwent a hard fork splitting the blockchain in two, thus creating Bitcoin Cash. Since the fork was caused by the community, there is no real creator of the new altcoin. One of the well-known figures in the BCH network is Amaury Séchet, who is the founder of Bitcoin ABC. He developed the software necessary to run a full node in the BCH network to keep it functioning.
Purpose of Bitcoin Cash
Two solutions were proposed by developers which are Bitcoin Unlimited and Segregated Witness (SegWit) to avoid pushing transactions with higher fees and the contrary to the purpose of the token.
Key Metrics
| Ticker | BCH |
| Token Name | Bitcoin Cash |
| Token Type/Protocol | BCH |
| Total Token Supply | 21,000,000 BCH |
| Current Circulating Supply | See Coinmarketcap |
| Market Capitalization | See Coinmarketcap |
| Token Creation Date | August 2017 |
| Can it be mined? | Yes |
Insights
- A hard fork is a radical change to a network’s protocol and agreements.
- Bitcoin Cash uses the Delta block to verify transactions utilizing weak Proof of Work (POW) for instant confirmation on Bitcoin Cash.
- CashScript, a high-level programming language, is used in Bitcoin Cash on smart contracts instead of regular programming languages such as Solidity.
- Each block is generated every 10 minutes and will only be created when someone creates a new block. Bitcoin Cash is currently hard forked to Bitcoin Cash ABC (BCHA) and Bitcoin Cash Node
Official Website: https://bitcoincash.org/
Whitepaper: https://www.bitcoincash.org/bitcoin.pdf
Note
As cryptocurrency and digital tokens involve high risks, investors may lose all their investment money and should study information carefully, making investments according to their own risk profile.
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