So far, Bitcoin has been the crypto asset that dominates the market in the first place. If you are a crypto asset enthusiast, then Bitcoin will certainly not sound foreign to your ears. However, did you know that Bitcoin has several derivative crypto assets? One of them is BCH (Bitcoin Cash). Then, what is BCH (Bitcoin Cash). We will try to discuss, here we will discuss further about BCH, including history, how it works, how to buy, and the latest BCH to IDR price.

About Bitcoin Cash(BCH)

BCH is a crypto asset that is the result of hard forking on the Bitcoin blockchain. The purpose of this forking is to increase the block size on the Bitcoin blockchain from 1 MB to 8 MB, and then increase it to 32 MB. This is done so that the scalability of transactions carried out on the Bitcoin blockchain can increase. Most Bitcoin Cash enthusiasts find this crypto asset more efficient and affordable than Bitcoin (BTC). However, there are many views that refute this opinion. This is because Bitcoin Cash itself is still in the development stage, and the solutions offered are not only scalable.

After knowing what BCH (Bitcoin Cash) is, now is the time to delve into its history. The history of Bitcoin Cash itself is inseparable from Bitcoin. As the popularity of Bitcoin soared, the block in the Bitcoin network was unable to accommodate the needs of users. As a result, many people question Bitcoin's scalability. Transactions involving the digital asset Bitcoin are processed, verified, and their data is stored in a digital ledger that we commonly know as a blockchain. Blockchain technology is considered a breakthrough because the ledger or ledger directly records all the related transactions. Transaction records in the blockchain are digitally recorded and cannot be deleted or changed. In addition, the Bitcoin blockchain also uses the principle of decentralization or not centralization. All data listed in the blockchain can be accessed by all computers in the world. Unfortunately, as adoption grew and expanded, the Bitcoin network became congested. This happened around 2017, when there was a surge in public interest in BTC. BTC began to be widely used for transactions. Transactions that accumulate make the fees charged are large. Bitcoin is considered not qualified to be used in everyday transactions. That's when Bitcoin Cash appeared.

Bitcoin miners and developers feel that in the future, BTC will get bigger and more popular. BTC adoption is also expected to accelerate. However, the scalability of the number one crypto asset is not really good. The lack of consensus in the Bitcoin community regarding Bitcoin's scalability led to a hard fork resulting in Bitcoin Cash. These miners and developers initiated hard forking in Bitcoin which then created a derivative crypto asset, namely Bitcoin Cash (BCH). Launched in August 2017, BCH is a crypto asset that has its own blockchain network and specifications. Each block has a larger capacity when compared to BTC. The verification process is also faster. Although BTC and BCH have the same function, they still have differences. Bitcoin Cash is able to process transactions in less time than the BTC network. This means, Bitcoin Cash users don't have to wait long when making transactions. Another difference between BTC and BCH is the transaction fees charged to users. Bitcoin Cash transaction fees are cheaper than Bitcoin.

how BCH works

As previously explained, BCH is a derivative of BTC. Therefore, the way BCH works is almost the same as its 'parent', Bitcoin. However, the larger block size makes the transaction process faster. In terms of price, Bitcoin Cash (BCH) is also cheaper than BTC because there are no accumulated transactions. Even so, when viewed from the side of adoption and popularity, Bitcoin Cash is not as popular as BTC. Therefore, don't be surprised if the adoption is still less than BTC