Bitcoin Cash (BCH)

Bitcoin Cash: A Decentralized Cryptocurrency with Faster Transactions

Bitcoin Cash (BCH) is a cryptocurrency that was created in 2017 as a result of a hard fork from Bitcoin. Similar to Bitcoin, Bitcoin Cash operates on a decentralized network that allows users to transact without the need for intermediaries such as banks. However, Bitcoin Cash aims to address some of the scalability issues of Bitcoin by allowing a greater number of transactions in a single block, which in turn should lower fees and transaction times.

Key Takeaways:

  • Bitcoin Cash is a cryptocurrency that was created in 2017 as a result of a hard fork from Bitcoin.
  • Bitcoin Cash aims to address the scalability issues of Bitcoin by allowing more transactions in a single block, resulting in lower fees and faster transaction times.
  • Bitcoin Cash and Bitcoin share several technical similarities, such as using the same consensus mechanism and having a capped supply of 21 million coins.
  • In November 2018, Bitcoin Cash underwent another hard fork and split into two cryptocurrencies: Bitcoin Cash ABC and Bitcoin Cash SV (Satoshi Vision). Bitcoin Cash ABC later changed its name to eCash in 2021.
  • Although Bitcoin Cash continues to trade and has its own community, it has not achieved widespread consumer acceptance as a form of payment compared to Bitcoin.

Overall, Bitcoin Cash is a cryptocurrency that offers a decentralized and faster transaction alternative to Bitcoin, with the aim of improving scalability and usability for users.

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Where to Buy Bitcoin Cash

Bitcoin Cash is a cryptocurrency that can be purchased from various platforms. Here are some popular options:

1. Bitcoin.com

You can buy Bitcoin Cash from the official website of Bitcoin.com. This platform offers products, services, and information related to cryptocurrencies. They accept credit/debit cards and other payment methods such as Apple Pay and Google Pay.

Website: https://www.bitcoin.com/get-started/how-to-buy-bitcoin-cash/

2. BitPay

BitPay allows you to buy Bitcoin Cash instantly with a credit card, debit card, Apple Pay, or Google Pay. They offer quick delivery to any wallet and have no hidden fees or third-party custody.

Website: https://bitpay.com/buy-bitcoin-cash/

3. Coinbase

Coinbase is another platform where you can purchase Bitcoin Cash. To buy Bitcoin Cash on Coinbase, you need to create an account, add a payment method, and start a trade. Coinbase accepts bank accounts, debit cards, and wire transfers as payment methods.

Website: https://www.coinbase.com/how-to-buy/bitcoin-cash

4. Kraken

Kraken is a popular choice for buying Bitcoin Cash with a wide range of funding options. You can use a credit card, debit card, bank transfer, and more. Kraken offers a safe and easy way to get started with crypto and provides world-class security.

Website: https://www.kraken.com/learn/buy-bitcoin-cash-bch

5. bitFlyer

bitFlyer is a platform where you can buy Bitcoin Cash with as little as $1. They offer a user-friendly interface and provide a convenient way to get started with Bitcoin Cash.

Website: https://bitflyer.com/en-us/static/buy-bitcoin-cash

The founders of Bitcoin Cash

**Bitcoin Cash** Bitcoin Cash is a cryptocurrency that was created in 2017 as a fork or spin-off of Bitcoin.

It was supported by some Bitcoin developers who worked under the supervision of Haipo Yang, the CEO of ViaBTC and an early investor in BTC. One of the key proponents and supporters of Bitcoin Cash is Roger Ver, the CEO of Bitcoin.com.

**History and Split** Bitcoin Cash was born out of disagreements within the Bitcoin community regarding the future direction of the cryptocurrency. In July 2017, Bitcoin miners locked-in a software upgrade known as Bitcoin Improvement Proposal (BIP) 91, which would activate the Segregated Witness (SegWit) upgrade at a certain block.

This upgrade was controversial as it would enable second layer solutions like the Lightning Network. A group of Bitcoin activists, developers, and China-based miners who were not in favor of the proposed SegWit improvement plans, pushed for alternative solutions that would increase the block size limit.

This ultimately led to the creation of Bitcoin Cash. In November 2018, a further split occurred within the Bitcoin Cash community, resulting in the emergence of two separate cryptocurrencies, Bitcoin Cash (BCH) and Bitcoin SV (BSV).

The founders of Bitcoin Cash are primarily the Bitcoin developers who worked under Haipo Yang's supervision, along with the support and advocacy of Roger Ver. **Key Features of Bitcoin Cash** - Peer-to-peer electronic cash: Bitcoin Cash aims to function as a decentralized electronic cash system, allowing low-fee transactions and definite confirmations.

- On-chain scalability: Bitcoin Cash has implemented changes to improve its scalability, allowing for larger block sizes compared to Bitcoin. - Sighash flag type for secured transactions: Bitcoin Cash has a specific flag type that enables enhanced security for transactions.

- Responsive proof-of-work difficulty adjustment algorithm (DAA): This algorithm helps maintain stability and security by adjusting the mining difficulty based on network conditions. - Decentralized development: Bitcoin Cash follows a decentralized development model, where decisions are made through consensus among the community.

Overall, Bitcoin Cash represents an alternative version of Bitcoin, with its own set of features and goals. It was created by a group of Bitcoin developers and has been supported by various individuals and organizations in the cryptocurrency space.

Bitcoin Cash Roadmap and Future Plans

Bitcoin Cash is a cryptocurrency that aims to fulfill the original promise of Bitcoin as a peer-to-peer electronic cash system.

It offers fast transaction times, low fees, and a scalable blockchain network.

Key Features and Advantages

  • Transact in seconds and get confirmed in minutes.
  • A network that runs without congestion, allowing for quick and efficient transactions.
  • The ability to send money globally for pennies, making it a cost-effective solution for cross-border transfers.
  • An easy-to-use payment system that offers a proven store of value.
  • The world's most robust blockchain technology, ensuring security and reliability.

Why Use Bitcoin Cash?

Bitcoin Cash provides several advantages over traditional banking systems and other cryptocurrencies:

  • Send money anywhere in the world, almost for free, 24/7, without the need for permission or approval.
  • Be your own bank and have full control over your money, without the risk of government intervention or freezing of accounts.
  • Access a decentralized financial system that is inclusive, unbiased, and resistant to censorship.

Roadmap for Bitcoin Cash

Bitcoin Cash has a roadmap that focuses on creating a global reserve currency and achieving global access to an inclusive financial system.

  • The developers aim to create a neutral, inflation-free, and censorship-resistant money system.
  • The roadmap is open to suggestions and contributions from the community.
  • Bitcoin Cash is a permissionless cryptocurrency, meaning that anyone can participate and contribute to its development.

Scaling the Blockchain

One of the distinguishing characteristics of Bitcoin Cash is its larger block size compared to Bitcoin. This allows for more transactions per block, resulting in faster and cheaper transactions.

The developers plan to increase the block size further, with the long-term goal of allowing blocks up to 1 TB in size, enabling over 5 million transactions per second.

Bitcoin Cash also supports off-chain payment networks, such as the Lightning Network, through the inclusion of Schnorr Signatures.

The Future of Bitcoin Cash

The future of Bitcoin Cash looks promising, with a focus on unrestricted growth, global adoption, permissionless innovation, and decentralized development.

The cryptocurrency aims to provide sound money accessible to the entire world.

Users, merchants, and developers are welcomed to join the Bitcoin Cash community and contribute to its vision of becoming a global peer-to-peer electronic cash system.