BCH Price Today Data
The live Bitcoin Cash price today is $209.97 USD with a 24-hour trading volume of $3,739,759,726 USD. We update our BCH to USD price in real-time. Bitcoin Cash is up 20.79% in the last 24 hours. The current Coin Market Cap ranking is #23, with a live market cap of $4,002,500,866 USD. It has a circulating supply of 19,061,931 BCH coins and a max. supply of 21,000,000 BCH coins.
What is Bitcoin Cash?
Bitcoin Cash is a peer-to-peer electronic cash system aimed at becoming a global currency with fast payments, micro fees, privacy, and high transaction capacity (large blocks). Just as physical money, such as a dollar bill, is paid directly to the person being paid, bitcoin cash payments are sent directly from one person to another.
Without permission, as a decentralized cryptocurrency, bitcoin cash does not require a reliable third party or central bank. Unlike traditional Fiat money, bitcoin cash is not dependent on financial intermediaries such as banks and payment processors. Transactions cannot be censored by governments or other central corporations. Similarly, funds cannot be forfeited or frozen - because the financial parties have no control over the bitcoin cash network.
Bitcoin Cash (BCH) is an alternative to the oldest and most widely traded cryptocurrency - Bitcoin (BTC), only the BCH network is much faster and cheaper. In 2017, BCH developers modified the BTC code, released their own version of the software and a fully competitive product, which divided Bitcoin into two blockchains: Bitcoin / Bitcoin Cash, and two consecutive assets - BTC / BCH. Bitcoin Cash is a clear result of the hard fork in the blockchain. Furthermore, another hard fork, which split Bitcoin Cash into two parts: Bitcoin ABC and Bitcoin SV, took place in the fall of 2018.
There are several distinctive features that distinguish BCH from the original. The key remains about a block size. Blocks can be larger in the BCH blockchain, which means that more transactions can be processed at a time, so extra space can help avoid higher fees. However, because the potential block size is large, storage and auditing becomes more expensive and users may find it difficult to download a copy of the blockchain.
From a technical point of view, Bitcoin Cash is very similar to the Bitcoin algorithm, namely: the two projects have a hard cap of 21 million coins, and a Proof-of-Work (POW) agreed framework and nodes for transaction verification. Use As such, traders may consider BCH as a hedging tool, in which investing can save them some risk.
In addition, due to the large block size, Bitcoin Cash (BCH) operates faster and has lower transaction fees, making BCH a better option for small day-to-day transactions. In addition, Bitcoin Cash supports smart contracts and ecosystem apps such as Cash Shuffle, Coin Mixing Protocol, and Cash Fusion, a privacy enhancement solution for the Bitcoin Cash Network. These technologies have their advantages and disadvantages: Cash fusion makes it extremely difficult to locate a user's assets, however it should be borne in mind that a commission is charged for each mixing, so there are frequent mixed lanes. Religion can be costly.
Bitcoin Cash provides a platform for peer-to-peer (P2P) payments between individuals, with an average transfer fee of as low as $ 0.01, and a quick settlement. This means that Bitcoin is suitable for cash transfers, international trade, day-to-day transactions and micro-transactions. In addition, Bitcoin supports economic freedoms by providing an alternative form of cash, protecting against seizures, censorship and any other form of devaluation (due to inflation).
Bitcoin Cash is a decentralized network where users influence the development of protocols. An important feature of the code is stated: the maximum supply of BCH is limited to 21 million coins, which is likely to be maintained.
Therefore, the main features of Bitcoin Cash include:
Transactions are recorded on the blockchain, ledger is updated at regular intervals, allowing users to track the history of the property and quickly eliminate the risk of fraud.
Bitcoin Cash is an open network that anyone can use for free and without sensors, the identity is not linked to the transaction.
Nodes that follow a set of rules (aka protocol) are responsible for the longevity of stored information. The protocol can be upgraded with the help of ecosystem participants, but it requires a high level of consensus between them.
All transactions that have ever been recorded on the blockchain are not subject to change.
The Proof of Work (POW) mechanism contributes to network security.
Bitcoin cash is a difficult asset with a maximum supply of 21 21 million BCH.
Bitcoin Cash guarantees its customers fast, affordable, and most importantly - reliable transactions without having to connect to any location, making it a viable alternative to existing payment networks.
What Is Bitcoin Cash Used for?
Bitcoin cash combines gold-like scarcity with the cost-effective nature of cash. With a limited supply of 21 million coins, Bitcoin Cash is potentially scarce and, like physical cash, can be easily spent. Transactions are faster with transaction fees, usually less than one-tenth of a percent. Anyone can accept bitcoin cash payments with a smartphone or computer.
There are different uses for bitcoin cash. In addition to peer-to-peer payments between individuals, Bitcoin Cash can be used by participating merchants to store goods and services and make online payments. Very low fees enable new micro-transaction economies, such as tipping content creators and rewarding app users with a few cents. Bitcoin also reduces fees and settlement times for cash remittances and cross-border trade. Other uses include tokens, easy smart contracts, and private payments with tools such as Cash Shuffle and Cash Fusion.
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