Bitcoin Cash

Soon after the release of the original Bitcoin, its community began to grow rapidly. The first cryptocurrency had not only undeniable advantages but also disadvantages. A few years later, the Blockchain volume reached 165 GB, which significantly complicated the formation of new blocks.

Mining began to get complicated, and the number of mined coins decreased. This led to the emergence of a large-scale fork in 2017. Bitcoin Cash is a new, improved version of the first Bitcoin. The coin does not have that many differences. It is based on the same amount of emissions and features of the blockchain. The key difference is the size of the block. This significantly affects the complexity of the blockchain formation.

Bitcoin Cash is the most expensive in terms of capitalization fork of the original Bitcoin. At the same time, it is quite simple. The creators of the majority of Altcoins sought to solve one of the global problems of “digital gold”. Bitcoin Cash is a simple coin update.

With the growth in transaction volume and mining complexity, participants in the cryptocurrency community divided into two groups. The former thought that it was necessary to continue working with the main Bitcoin and the latter became supporters of innovations. The outcome of disputes that lasted several years was the appearance of a fork.

As a result of branching, traditional Bitcoin holders received the same amount of new coins. The popularity of Bitcoin Cash was unexpected, even among supporters of this fork. Immediately after the appearance of the new cryptocurrency, its price instantly reached 300 USD. After some time, the exchange rate of the coin has increased several times.

Features of Bitcoin Cash

The digital coin caused a mixed reaction in the cryptocurrency community. However, its popularity grew rapidly. The main reason is that Bitcoin Cash acts as a continuer of the original Bitcoin case. The issue of a new coin is also limited to 21 million tokens that can be mined. At the same time, BTC holders received an equal amount of new cryptocurrency.

Many experts believe that over time, the exchange rate of Bitcoin Cash will equal the price of its ancestor. Currently, the cryptocurrency is the second largest in market capitalization. It is about 22 billion USD.

Block size

After the original Bitcoin began to gain popularity, there was an impression that even its founder did not fully understand what a large-scale project he had implemented. The amount of data in a single block is 2 MB. With the increase in the number of transactions, this became not enough. Bitcoin Cash developers have fixed this flaw. The block size of the new cryptocurrency has been expanded to 8 MB. This led to faster transactions and easier mining.

Safety standards

Bitcoin Cash platform is better protected from theft of coins and interference into transactions. Here, the problem of a repeated transaction and its deletion is eliminated. Improvements made to the system also affected the wallet itself.

Coin mining

TOver time, mining begins to get complicated. Creation of new blocks begins to take more and more resources and power. The original Bitcoin provides for the adaptation of the coin mining after the generation of each 2016th block. The creators of Bitcoin Cash made changes to this system, making it more adaptable.

Weaknesses were also revealed in the new cryptocurrency. The main one is the high cost of transactions. For most altcoins, it is significantly lower. However, Bitcoin Cash did not become less promising. It can be said without exaggeration that this cryptocurrency is one of the most promising on the market. It is also of particular interest to currency exchange traders.

Something went wrong
Message: