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Crypto World. BITCOIN CASH. What is it?

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Written by   36
1 month ago

As you know I have been writing articles about cryptocurrencies since its inception, today I have come up with Bitcoin Cash, our beloved currency, I was also inspired by a recent article from my friend @Eybyoung (sorry for naming you) where she showed her concern about the falling price of BCH. You can read it at the following link BCH Rank 19, I believe BCH will continue to grow and get stronger every day.

Bitcoin Cash (BCH) is one of the most popular cryptocurrencies, currently ranked #18 market-wide according to CoinMarketCap. BCH is a cryptocurrency open source software project and alternative implementation of Bitcoin, originated by the splitting of the Bitcoin network on August 1, 2017, its goal is to continue the original vision of Satoshi Nakamoto.

Photo by: Tutorialesenlinea

A part of the Bitcoin community decided to split into a different Blockchain through a fork, executed by part of those who integrated that network. This group of developers felt dissatisfied with the general scalability direction of Bitcoin, the developers were not happy with the development of Bitcoin, did not agree with the implementation of SegWit transactions, this group formed a plan to separate from the Bitcoin blockchain and created Bitcoin Cash, with a block capacity limit of 1 megabyte going to 8 megabytes and reaching 32 megabytes today.

The division of the network occurred just when the block number 478558 was mined, the last one that would be identical in both networks, from there BCH began to exist independently, increased the maximum size of the blocks, premiering a new mining algorithm called emergency difficulty adjustment, all users who had Bitcoin saw their balances reflected in both networks, i.e. they had the same amount of Bitcoin in BCH.

Who is Roger Ver?

Photo by: Cointelegraph

He is a great investor who embraced Bitcoin in its early days. He invested more than 1 million $ in several companies that have to do with Bitcoin, among them: Blockchain.com, Krake, Bitpay, Ripple, among others. He is also one of the creators of the Bitcoin Foundation, Roger Ver is known as Bitcoin Jesus. In an interview in Cointelegraph, he described "Bitcoin Cash" as the real Bitcoin, announcing that it will have a larger market capitalization very soon. He also said that most of his funds are in BCH.

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Difference between Bitcoin and BCH

Block size limit and transaction fee, BCH has larger blocks and lower usage, making it faster and cheaper than Bitcoin.

Peer to peer e-money is online money sent from one person to another without the need for a third party. It makes use of digital signatures as part of the solution, BCH can trade in seconds and have confirmations in minutes. It is a network runs 5 transactions with low fees, you can send money globally for pennies, it is simple, easy to use, no hiccups, it is stable, a payment system that is a proven store of value, it is secure, it is the most robust Blockchain technology. It is available in a multitude of markets, in mobile style wallets, browser wallets or so-called paper wallets.

Photo: Gavin Andersen

On November 11, 2017 Gavin Andersen developer whom Satoshi left in charge of the Bitcoin project, at the time of his retirement wrote on Twitter supporting BCH publicly, hinting that it better represented the project he had worked on from the beginning.

BCH is a p2p electronic system, a decentralized altcoin, which does not require any trusted third party or central banks. The BCH protocol guarantees that there will never be more than 21 million coins as with Bitcoin, governments continually print coins inflating the supply infinitely and devaluing everyone's savings.

BCH has a fixed issuance therefore represents a solid currency. It also offers greater privacy and anonymity than traditional payment systems such as wire transfers or credit cards, because it is impossible to know who controls a Bitcoin address. In fact BCH offers various levels of privacy depending on how it is used, reviewing the price according to CoinMarketCap its value is at 611.17 $, the unit and its behavior is very stable, it has kept up with Bitcoin, to such an extent that if Bitcoin goes up BCH goes up, if Bitcoin goes down BCH goes down, not always but most of the time.

As of today's date it ranks 18th with a capitalization of $11,518,798,352 and a volume in the last 24 hours of 1,941,709 BCH. Another thing, BCH is available in countless market, it is one of the first Altcoin to consolidate, no doubt it makes its authority and liquidity almost assured in the cryptocurrency market.

Other articles you may like

Blockchain Generalities

Bitcoin. What is it and how does it work?

ETHEREUM. What is it?

LITECOIN. What is it?

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Monday, October 18, 2021

References:

Portada Photo by: https://es.cointelegraph.com/bitcoin-cash-for-beginners/what-is-bitcoin-cash

https://latam.tradersarea.com/bch-bitcoin-cash/

https://otech.uaeh.edu.mx/noti/index.php/block-chain/7-datos-sobre-bitcoin-cash-la-criptomoneda-que-hoy-cumple-su-segundo-aniversario/

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Written by   36
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Comments

Bch is the new gold.

$ 0.00
1 month ago

I am convinced of that, so we must continue to invest in it. Thank you

$ 0.00
1 month ago

Let's be patient, but BCH should go up in the crypto market anytime in the future.

$ 0.00
1 month ago

BCH will have a promising future. We just need patience and of course learn in the process.

$ 0.00
1 month ago

Thanks for the mentioned 😊 BCH will take off soon, it needs time hehe.

$ 0.00
1 month ago

I'm sure it will grow a lot, thanks for your great contribution. ;)

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1 month ago