Bitcoin Cash (BCH) is a cryptocurrency created in August 2017 as a hard fork of the Bitcoin blockchain. It is an open source peer-to-peer electronic cash system that aims to provide low fees and reliable confirmations into its decentralized ledger for payments made on its network.
Bitcoin Cash is different from Bitcoin in several ways, including block size and transaction fees. Unlike Bitcoin which has a 1 MB cap on the size of individual blocks, Bitcoin Cash offers larger blocks of up to 32MB with mining rewards that are four times higher than those seen on the Bitcoin blockchain. This allows for much faster transactions and lower fees when sending payments using the BCH network compared to BTC.
The main purpose of Bitcoin Cash is to become an alternative form of money used by people around the world who value privacy and censorship resistance more than they do convenience and cost savings. It seeks to provide a way for people to transact without relying on third parties such as banks or payment processors, while also allowing them to remain anonymous if they
The main innovation of BCH compared to Bitcoin is its larger block size limit, which allows it to process more transactions per second. This enables faster and cheaper payments, making it ideal for merchants who want to accept digital currency without costly fees or delays. Additionally, BCH offers tools such as Schnorr signatures and smart contracts that allow users to build sophisticated applications on top of the blockchain. As with any other cryptocurrency, investors can buy or sell BCH through exchanges or wallets, and the technology is constantly evolving to improve security and usability. As the adoption of Bitcoin Cash grows, it is expected that its utility will increase as well.
Ultimately, Bitcoin Cash aims to become a globally adopted digital currency for payments, savings and investments. By offering low fees, high-throughput transactions and a number of other features, it is well-poised to become the go-to cryptocurrency for individuals and businesses alike. With an ever-growing community behind it, Bitcoin Cash is sure to be an exciting asset in the years ahead.