What is Bitcoin Cash? Features of Bitcoin Cash (BCH)

Bitcoin Cash

Bitcoin is undoubtedly one of the most incredible innovations in recent history. At the same time, it has been criticized too much for its scalability issues. Finally, on August 1, 2017, Bitcoin passed through a difficult fork that produced Bitcoin Cash.

The Bitcoin Cash official website describes itself as: “Bitcoin Cash is peer-to-peer electronic cash for the Internet. It is fully decentralized, with no central bank and requires no trusted third parties to operate.”

Bitcoin Cash (BCH) is very similar to Bitcoin, but some features create the difference:

Block size 8 MB.

There will be no Segwitz.

 

There is no “change in price” feature.

Protected against re-steal and It has a self-destructive feature.

It provides a way to adjust work flawlessness more quickly than the average 2016 block difficulty setting range found in Bitcoin.

Everyone with BTC had equal medals in the BCH as of August 1st.

Features of Bitcoin Cash

What is Bitcoin Cash
What is Bitcoin Cash

One of the best features of Bitcoin Cash is the point where any cryptocurrency is one of the most significant problems faced by post-forking, constant attacks.

A repetitive attack is a malicious repetition or delayed data transmission. In the context of a blockchain, an operation takes place in a chain of blocks, which is repeated in bad faith in another chain of blocks. For example, Alice sends 5 BTC to Bob; under a repetition attack, he will throw 5 BCH to himself, even if he does not want it at all.

So how does Bitcoin constant cash-card attack?

BTC-BCH chart of Bittrex
BTC-BCH chart of Bittrex

By using a redefined underwear algorithm. This pit algorithm is used when the trough flag sets the 6th bit. Since different shaking algorithms will cause invalid transactions, these transactions will be invalid in the non-UAHF chain.

Using OP_RETURN output containing the sequence “Bitcoin: Electronic Cash System”. Any transaction involving this string is deemed void by Bitcoin cash nodes up to 530,000 blobs. Basically, you can divide the money before this block by trading on the non-UAHF chain first with the OPF-RETURN output, and then by trading in the second row on the UAHF chain.

Besides of them, it has a reliable web system, and it provides trustworthy. You can quickly send money all over the world safely in one click. They claim that they have the safest blockchain technology.

Advantages of Bitcoin Cash

More and more stock markets accept cash payments. When it first started, most stocks did not want to take over the BCH, but now more and more stocks accept it. This increases the reliability of the value.

Bitcoin Cash Wallets and Exchanges

BTC-BCH chart of Bleutrade
BTC-BCH chart of Bleutrade

More and more miners have begun Bitcoin Cash mining. BCH is now very profitable for miners, and many will continue to pursue it, and Bitcoin Cash’s value will be increased. The more demand means the more profit.

Bitcoin Cash made a variety of preparations for each stock market and wallet. The supporting companies integrated the BCH into the system gradually. When it deems appropriate, it has also been processed. It is worth noting that not all bourses that support this process have completed this process yet. We advise users to follow the announcements made by the stock exchanges and wallets they are affiliated with on the BCH.

It is known that all stock exchanges in China are supporting BCH attraction, and the vast majority of them are engaged in the BTC / BCH trading pair. Two over three of the major South Korean stock exchanges support the BCH.

Other exchanges supporting the BCH are as follows:

Bittrex, Binance, Kraken, Bitfinex, Bitcoins Norway, Mercury Cash, QuadrigaCX, BTCBox, Bithumb, Korbit, QuoineEX, Walltime, Lykke, and Coinspot.

Wallet applications that support BCH are as follows:

Ledger Nano S, Trezor, Jaxx, Coinomi, Electrum, AirBitz, Bitcoin Unlimited, Bitcoin Classic, BitcoinABC and Free wallet.

Bitcoin Cash Values

Bitcoin Cash was traded at the level of $ 280 at the beginning of August when it left Bitcoin. The cryptocurrency, which followed a calm line, made a spectacular attack after 17 August. BCH doubled market volume and its price in a few days, and it rose to 900 dollars on August 19th. After the users want to profit from Bitcoin Cash caused the loose value. By the March of 2018, it has an 18 million dollar market cap, and its price is 1 thousand dollar.

Bitcoin Cash Facebook

Bitcoin Cash Github

Bitcoin Cash Website

Bitcoin Cash Reddit

Bitcoin Cash Twitter

About the author

I am graduated from the faculty of communication. I have worked for major companies in the communication field, and acquire more than 12+ years of experience. I like to read empowering books, traveling and researching useful stuff on the internet. For a few years now, I have cultivated and developed a passion in the cryptocurrency world. I have decided to dedicate my time to create some posts on my blog about cryptocurrencies in general. Cryptocurrency World is growing fastly and will have longevity future however it has just born. I intend to improve myself on blockchain technology and share my knowledge.

Leave a Reply