Bitcoin Cash

Bitcoin Cash is a cryptocurrency that forked from Bitcoin on August 1, 2017 and the two different cryptocurrencies now exist with separate blockchains after the split. Everyone who had the ownership of their private keys or had their coins on the exchange before this date should have Bitcoin Cash in 1:1 ratio.
Share:
Price
Basic
Location:
Various
Announcement Date:
2017-08-01
Initial release:
2017-08-01
Hash function:
SHA-256
Smart Contract Support:
No
Consensus Mechanism:
Proof-of-Work (PoW)
Bitcoin Cash101

What is Bitcoin Cash?

Bitcoin Cash is a cryptocurrency that forked from Bitcoin on August 1, 2017 and the two different cryptocurrencies now exist with separate blockchains after the split. Everyone who had the ownership of their private keys or had their coins on the exchange before this date should have Bitcoin Cash in 1:1 ratio.

Bitcoin Cash was created by miners after disagreements within the bitcoin community over limiting the number of transactions, bitcoin cash aims to provide a fast, cheap way of sending money across the globe. 

Key advocates of Bitcoin Cash, Jihan Wu and Roger Ver have been promoting Bitcoin Cash. They have gone as far to say that Bitcoin Cash is the true Bitcoin.

How does Bitcoin Cash work?

Bitcoin Cash retained the decentralization of bitcoin as well as its other main characteristics with the exception of two key differences.

  • Increase block size: The maximum block size (transaction processing capacity) was increased to eight megabytes from one and
  • No SegWit integration: A change in the way signatures were used to better suit specific types of hardware used to store bitcoin - an upgrade which was added to enable more transactions to be processed.
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