Bitcoin Cash (BCH) appeared due to Bitcoin’s hard fork in 2017 and repeated the algorithm of BTC in many aspects. Many perceive the BCH altcoin trend as a result of disagreements between developers and miners on the future of Bitcoin’s development. From this point of view, Bitcoin Cash aims to improve the existing system.
Bitcoin Cash has made a name on the market since its release. But what is it that BCH has been through in recent years? Here is a list of critical events that have had a significant impact on the
Bitcoin cash chart’s rate.
● 08/02/2017 - The date of creation of BCH; its cost was $ 637.62.
● 12/20/2017 - The historical maximum of the rate was fixed at the level of 3785.82 dollars. It was due to the launch of the altcoin-for-free sale on the Coinbase cryptocurrency exchange.
● 04/08/2020 - The first Bitcoin Cash halving, BCH’s rate plunged to $ 247.30.
● 06/30/2020 - An all-time low point - the price of Bitcoin Cash dropped to $ 230.50.
Bitcoin Cash is compatible with a variety of digital wallets, including:
Such a selection of crypto wallet for BCH options makes this cryptocurrency extremely convenient to use.
Bitcoin Cash’s official owner is its co-creator Robert Ver. The framework of the Bitcoin Cash protocol almost entirely repeats Bitcoin:
● PoW with the SHA-256 hashing algorithm
● Maximum issue volume of 21 million coins
● Same block time and the same reward system
However, it has two key differences:
● Block size of 1MB in BTC against 32MB of BCH
● Difficulty adjustment
BCH is what Bitcoin would be with certain applied improvements:
● High speed of transaction process. Bitcoin Cash pools process 100 transactions per second, and pools in the Bitcoin network are no more than three.
● Transfer commission of 0.000013 BCH.
● Algorithm of protection against erasure and repeated execution of transfers. A separate digital signature can be put under the transaction amount to increase the security of the transaction.
Here are some of the biggest exchange platforms available for Bitcoin Cash:
Bitcoin Cash is an excellent cryptocurrency for electronic payments, supported by many crypto web wallets. You can find a map of stores and other places around the world that accept Bitcoin Cash as payment on the official BCH website. There are about 1.7 thousand of them to date.
So, what is Bitcoin Cash most known for? Users trade BCH on crypto networks, use it in offline and web stock operations or exchange it through P2P platforms.
It is difficult to say which chain will benefit in the long run — Bitcoin or Bitcoin Cash. However, it is clear that, despite the similarities, they will develop in different ways over time. The global economy is currently going through unstable times. It makes the situation with cryptocurrencies fluctuate continuously around the world. Thus, it is essential to stay updated on the latest news on Bitcoin Cash (BCH). Track all the crypto live news about BCH on our blog!
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