Bitcoin cash was created by bitcoin miners and developers on August 1, 2017. It has a number of features that bitcoin does not have. Bitcoin cash news is built with the ability to process more transactions than bitcoin can at one time, and it also has lower transaction fees. Bitcoin cash news separates from bitcoin because bitcoin could not keep up with the demand for processing transactions due to an increase in people wanting to use bitcoin as a form of payment instead of just as an investment or commodity like gold or silver.
Why is this important?
BC is the result of a bitcoin fork, which means that it is essentially the same as bitcoin but with different parameters. Forks happen when there is a disagreement among developers about how to proceed with bitcoin’s development. When this happens, one group of developers creates a new version of bitcoin while the other group continues developing the original version. This can lead to two versions of bitcoin that share a common history but have different rules and features.
The main difference between bitcoin and BC is that bitcoin has a block size limit of one megabyte while BC has no block size limit. This means that bitcoin cash can process more transactions at once than bitcoin can, making it faster and cheaper for people to use as payment. BC also has an emergency difficulty adjustment feature, which makes it easier for bitcoin cash to adjust to changes in mining power and keep its network stable.
Some people believe that bitcoin cash is a more true version of bitcoin because it follows the original Satoshi Nakamoto whitepaper more closely. Others believe that bitcoin is better off with a block size limit, as this prevents spam attacks on the network and allows for greater experimentation with new features. The future of BC will be decided by the market, as users vote with their dollars on which version they prefer.
Bitcoin facts
- BC was created as a result of a bitcoin hard fork on August 01, 2017.
- The BC blockchain has a block size limit of 32MB, compared to bitcoin’s block size limit of only one megabyte.
- BC has a lower transaction fee than bitcoin.
- BC is supported by most major bitcoin wallets and exchanges.
What else should I know? - BC is often referred to as “Bcash” and “BCH”.
- The ticker symbol for BC is “BCH”.
- You can buy BC on most major exchanges.
- BC has a very active community, which is constantly developing new tools and features for the coin.
We hope this information has been useful to you.
