This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks. What is Bitcoin Cash? Icon Symbol Initial release date Algorithm type Max. Supply BCH, BCC, Ƀ 1 August, 2017 SHA-256 21 million BCH Built upon the, Bitcoin Cash is a digital currency that is: • Decentralized.

The network is spread out across many different computers all over the world. • Peer-to-Peer. Person A can send Bitcoin Cash directly to Person B from anywhere in the world without needing an intermediary, like a bank. Bitcoin Cash uses strong encryption to prevent hacking, fraud, and cyber attacks.

The history of all Bitcoin Cash transactions is logged on a publicly accessible blockchain that can be viewed and verified by anyone. How is Bitcoin Cash different from bitcoin? Bitcoin Cash was created as a result of diverging viewpoints within the bitcoin community about how to scale the network. As more people began to use bitcoin, the network struggled to keep up with the volume of transactions. As a result, many bitcoin users were waiting hours, sometimes days, before seeing their transactions go through.

What is Bitcoin Cash? BCH vs Bitcoin. As a result, mining Bitcoin Cash became more lucrative, and miners began to migrate from mining Bitcoin to Bitcoin Cash.

There was a lot of debate around how to solve this problem that led to a split between two groups with opposing viewpoints: those in favor of increasing the size of blocks in the blockchain versus those in favor of restructuring the way data was stored in the existing blocks. The Hard Fork To make transaction speeds faster, one group within the bitcoin community wanted to increase the size of blocks on the bitcoin blockchain. This group, consisting primarily of bitcoin miners, could not get enough support from the larger bitcoin community to form the consensus needed to move bitcoin in this direction.

As a result, this group split off (or “hard-forked”) from the original bitcoin blockchain and formed Bitcoin Cash as a new currency. Bitcoin Cash recognizes the same blockchain as bitcoin up until the time of the fork, August 1st, 2017. After the fork, Bitcoin Cash transactions started to be recorded on a new blockchain, specific to Bitcoin Cash, while bitcoin continued to maintain the. What does Bitcoin Cash do differently? Asics Einsteinium EMC2 Mining Hardware here. The biggest difference between bitcoin and Bitcoin Cash has to do with the size of blocks on the blockchain. By increasing block size from bitcoin’s 1MB up to 8MB, Bitcoin Cash allows many more transactions to be processed in one block. The idea is to process larger transaction volumes faster and for lower fees.

Another significant difference between the two currencies is that the level of difficulty involved in mining Bitcoin Cash varies depending on how many miners are active on the network. Many bitcoin miners have migrated over to Bitcoin Cash for this reason, because it allows them to generate larger profits at a faster rate than mining bitcoin. ZenCash ZEN Mining Limit on this page.

Where can I use Bitcoin Cash as payment? Many cryptocurrency exchanges have taken steps to integrate Bitcoin Cash, and it’s possible that merchants will begin to follow suit as the currency continues to grow. For those looking to use cryptocurrency to buy goods and services, Bitcoin Cash is not currently accepted by most vendors, including many of those that do accept bitcoin. How to get Bitcoin Cash There are a few ways to get your hands on some BCH. • You might already have some.

If you owned bitcoin before the August 1 fork, you might already have Bitcoin Cash. Any bitcoin holdings you had prior to the split, unless they were kept on an exchange, can also be claimed as Bitcoin Cash. The same private keys associated with your bitcoin wallet can be used to access equal holdings in Bitcoin Cash. • Buy from an exchange. Initially, many of the most prominent exchanges in the US were hesitant to support Bitcoin Cash.

However, due to an increase in value and consumer demand more and more exchanges are beginning to open their doors to this new currency. Some popular exchanges that support BCH include Kraken, Bitfinex, and Bittrex. Coinbase has also stated that it will begin to issue Bitcoin Cash starting in 2018.

The Bitcoin Cash development team just launched a new website at BitcoinCash.org. The website explains the benefits of the cryptocurrency as a daily, usable currency and a continuation of the original bitcoin project. What Is Bitcoin Cash (BCH)? Nearly two months after it launched, Bitcoin Cash continues to be a popular cryptocurrency with active. And now, the development team just launched a new website at BitcoinCash.org. That website explains the core features of the currency in a way that’s easy for anyone – even complete beginners – to understand.

The goal of BitcoinCash.org is to teach users the, which trades under the symbol BCH. Overall, the website describes BCH as “the best money in the world” and claims that it fulfills the original promise of bitcoin as “peer to peer electronic cash.” Since launch, Bitcoin Cash has become known for its low fees and reliable confirmations – both of which have proven difficult on the. Since the hard fork, Bitcoin has suffered bouts of high fees. It’s also gone through some developer turmoil. Meanwhile, changes to the bitcoin network haven’t resulted in faster transaction times or cheaper confirmations, and debate rages about proposed blocksize increases.

That’s why the split – which created Bitcoin Cash – occurred. Bitcoin Cash (BCH) supporters claim these problems are the first signs of a dying currency, while Bitcoin (BTC) users ignore the FUD. Fortunately, the new BitcoinCash.org website doesn’t get caught up in trashing its biggest competitor, Bitcoin. Instead, it spends most of the time. Bitcoin Cash Features Here are Bitcoin Cash’s core features, according to BitcoinCash.org: • Fast: Transactions are completed in seconds and confirmed within minutes. • Reliable: The BCH network runs without congestion, and is scalable to handle further demand in the future. • Low Fees: Send money globally for pennies.

• Simple: Easy to use, regardless of your level of. • Stable: It’s a payment system that functions as a proven store of value. • Secure: Bitcoin Cash relies on the bitcoin blockchain (a forked version), described as the “world’s most robust.” Ultimately, Bitcoin Cash currently functions more effectively as a daily currency than bitcoin.

BCH has lower fees (just pennies), making it ideal for your daily cup of coffee. Bitcoin network fees – which can range as high as a few dollars – make it an unrealistic option for buying coffee. By offering fast transaction times, Bitcoin Cash aims to fulfill bitcoin’s original promise as a type of peer-to-peer electronic cash. What’s New With Bitcoin Cash?

What makes Bitcoin Cash different from bitcoin? The new BitcoinCash.org website has a “New Features” section where they talk about the unique features of BCH: On-Chain Scalability: Bitcoin Cash follows the Nakamoto roadmap of global adoption with on-chain scaling. As a first step, the blocksize limit has been made adjustable, with an increased default of 8MB. The developers are also actively researching how to allow massive future increases. Obviously, the blocksize debate has been raging in the bitcoin community all year – and BCH’s devs claim to have solved it with their on-chain scalability solution.

Emergency Difficulty Adjustment (EDA): A responsive proof-of-work difficulty adjustment, according to BitcoinCash.org, “allows miners to migrate from the legacy Bitcoin chain as desired, while providing protection against hashrate fluctuations.” New Transaction Signatures: The Bitcoin Cash blockchain signs transactions with a new SigHash type that provides replay protection and. That new signature type also eliminates the quadratic hashing problem. Decentralized Development: Multiple independent teams of developers provide software implementations to secure the future of bitcoin. This decentralization ensures the future is secure, with resistance to political and social attacks on protocol development. No single group or project can control it. One of the biggest criticisms of the original bitcoin blockchain is that it’s controlled by a small group of core developers, some of whom may have private interests. This centralized control negates one of the core benefits of bitcoin’s original blockchain.

Although BitcoinCash.org doesn’t bring it up, it’s clear what they mean when they promote “decentralized development” as a feature. Bitcoin Cash Conclusion Ultimately, if you held bitcoin as of block 478558, you’re also an. BitcoinCash.org aims to promote the currency in a user-friendly, welcoming way. The BCH community has been accused of hostility in the past – including outright aggression towards the Bitcoin (BTC) core development team. BitcoinCash.org may be the first attempt at moving towards a more productive future where the community isn’t bogged down by fights with “Bitcoin maximalists.” It features a clear, easy-to-read overview of how Bitcoin Cash works, and how it’s different from “legacy Bitcoin”, which is what the website calls Bitcoin (BTC).

In any case, Bitcoin Cash isn’t going away anytime soon. You can learn more about the today at BitcoinCash.org.