Bitcoin Cash: Key Information
Cryptocurrency Name: Bitcoin Cash (BCH)
About Bitcoin Cash
As Bitcoin gained popularity, it faced challenges like slow processing speeds, high transaction fees, and scalability issues. To address these, various strategies were proposed. One prominent solution was modifying Bitcoin’s core blockchain rules to enhance processing speed.
Bitcoin Cash (BCH), launched in 2017, is a hard fork of the original Bitcoin (BTC). The fork aimed to increase Bitcoin’s block size to improve network performance. However, most nodes opposed this change, leading to a hard fork that created Bitcoin Cash as a separate entity at block 478,558. Though BCH and BTC share a common origin, they now operate on distinct blockchains.
Users holding Bitcoin at the time of the fork received an equivalent amount of Bitcoin Cash in their wallets. BCH itself has undergone further forks, notably the creation of Bitcoin SV (BSV) in November 2018. These forks sparked ongoing debates within the community, fragmenting support.
Resources
- Whitepaper: Bitcoin Cash Whitepaper
- Official Website: Bitcoin Cash Official Site
How Does Bitcoin Cash Work?
Bitcoin Cash functions similarly to Bitcoin, operating as a public, decentralized digital ledger using the Proof-of-Work (PoW) consensus mechanism (SHA-256). Nodes validate transactions, and miners earn BCH rewards for solving cryptographic puzzles and confirming transactions.
Key Differences Between Bitcoin and Bitcoin Cash
- Block Size: Bitcoin has a 1 MB block limit (~7 transactions per second), while Bitcoin Cash supports 32 MB blocks (~100+ transactions per second).
- Fees: BCH transactions typically cost under $1, contrasting with Bitcoin’s higher fees.
Critics argue that BCH’s faster, cheaper transactions stem from reduced mining requirements, potentially compromising security compared to Bitcoin.
Conclusion
Bitcoin Cash has made strides in improving transaction speed and affordability. Despite controversies, its innovations mark significant progress in the evolving crypto landscape.
👉 Discover more about Bitcoin Cash
Note: Like all cryptocurrencies, BCH carries risks. Conduct thorough research before investing.
Bitcoin Cash: Supply and Tokenomics
- Circulating Supply: 19,892,484 BCH
- Total Supply: 19,892,484.38 BCH
- Max Supply: 21,000,000 BCH
- Market Cap: $9.49B
- Fully Diluted Market Cap: $10.02B
Tokenomics
- Scalability: BCH aims to meet global payment demands with larger blocks (8 MB initially, now 32 MB), enabling higher throughput and lower fees.
- Utility: BCH serves as a medium for peer-to-peer payments and value storage.
Bitcoin Cash’s Future Outlook
BCH ranks #13 by market cap ($9.49B). In a bull market, its value may rise further, especially if adoption grows through real-world applications and partnerships.
Price Predictions
- 2026: $491.48 (based on historical models).
- 2031: $1,205.96 (+38% projected growth).
Caution: Crypto investments are volatile. Monitor market trends and risks closely.
How to Buy Bitcoin Cash (BCH)?
To purchase BCH:
- Choose a Platform: Bitget offers secure, high-liquidity trading.
- Register and Verify: Complete KYC on Bitget.
- Purchase: Use bank transfers, debit/credit cards, or crypto wallets.
👉 Step-by-step guide to buying BCH on Bitget
Alternative Ways to Acquire Bitcoin Cash
- Earn Free BCH: Participate in Bitget’s referral programs or promotions like Offer Campaigns.
- Convert Rewards: Swap crypto airdrops/rewards for BCH via Bitget Swap or spot trading.
Use Cases for Bitcoin Cash
- Trading: Profit from BCH price fluctuations on exchanges like Bitget Spot Market.
- Staking: Earn passive income by staking BCH on platforms like Bitget Earning.
- Payments: Send BCH peer-to-peer or use it for donations/purchases.
Explore BCH’s official site for additional applications.
Bitcoin Cash FAQ
1. Is Bitcoin Cash the same as Bitcoin?
No, BCH is a hard fork of BTC with larger block sizes for faster, cheaper transactions.
2. What is Bitcoin Cash’s max supply?
21 million BCH, mirroring Bitcoin’s capped supply.
3. Where can I store BCH securely?
Use hardware wallets (e.g., Ledger) or trusted software wallets supporting BCH.
4. Why did Bitcoin Cash fork from Bitcoin?
To address scalability issues by increasing block size, a change rejected by the Bitcoin majority.
5. Can I mine Bitcoin Cash?
Yes, BCH uses PoW (SHA-256), allowing mining with specialized hardware.
6. What’s the transaction speed of BCH?
~100+ transactions per second (vs. Bitcoin’s ~7 TPS).
Tags:
- Mineable
- Proof-of-Work (PoW)
- SHA-256
Current Price: 1 BCH = $477.26 (USD)