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Confidence in the potential of BCH

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Written by   362
5 months ago

I have been on the read platform, cash since August 2020 and then I met BCH. I learned a lot from friends by reading their texts and sites where I read the latest news about BCH. @Eybyoung  @Jane@Macronald @Gabu, @tired_momma @Telesfor and @PVMihalache A few months ago I was also active on haven't had tips from for several months, but I always hope so. I believe that some of my articles will be interesting.I am a member of the BCH  #Club1BCH club and I believe that together we will support and succeed.I also read a beginner's guide where I learned about the wallet where I will keep my coins and exchange offices.I opened two wallets, I have 0.28610170 BCH and in the other 0.22380929 BCH.Wow! .I'm so happy .One day I'll have 1 BCH!

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How does Bitcoin Cash work?

Each BCH transaction must be added to the blockchain in order to be considered successful. The job of validating transactions and adding them to the blockchain is done by miners and nodes, i.e. their powerful computers connected to the network. Miners spend a lot of processing power and electricity to get financial rewards. If they manage to “dig up” or link one block of valid transactions on time, they will receive a reward. In addition, they receive fees from the sender of all transactions they have included in that block.

The number of owners of this cryptocurrency is certainly not negligible. BCH currently owns 16 million addresses.

They make a difference from BTC

Dynamic Digging Weight Adjustment: Unlike Bitcoin, which adjusts the digging weight every ≈14 days, Bitcoin Cash relies on a dynamic algorithm that examines the weight on each block.

Smart contracts: It is possible to make a more complex smart contract on the Bitcoin Cash network than on Bitcoin.

Token issuance: It is possible to issue your own token via the Bitcoin Cash network (or SLP), in a similar way as it is possible via ethereum.

The potential of Bitcoin Cash

Bitcoin Cash can process a much larger number of transactions per second than the Bitcoin network, which means that it is faster and cheaper to send BCH than BTC.

It is great for transactions, because no matter how much money is sent, a fee less than a cent is usually paid.

In addition to sending transactions, Bitcoin Cash developers are working on building new functionalities on smart contracts. Their goal is to build as many types of tokens and decentralized applications on it as possible.

Additional solutions are being developed to increase the scalability of Bitcoin Cash. The goal is to create a network that can process as many transactions as possible in the future. To achieve this, in addition to the implemented Schnorr signatures, developers are also developing solutions for faster block propagation and blockchain cropping. Using mass parallelization, they will try to raise the number of possible transactions per second to over 5 million. They want to reach a level where stores will be able to consider the transaction safe enough after only 3 seconds, that is, they can treat it as if it "passed".

More and more online and physical stores, as well as other providers of services and goods, are accepting Bitcoin Cash as a means of payment.

The return of confidence in the potential of this cryptocurrency can also be noticed through the record volume of BCH trading this year compared to all previous ones.

BCH can also be bought in Serbia, in my country in a very simple way,

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$ 0.36
$ 0.11 from @Telesfor
$ 0.10 from @tired_momma
$ 0.05 from @Gabu
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Avatar for Snezana28
Written by   362
5 months ago
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Oh, you're only a month ahead of me when I started. Glad to know BCH and get back into trading. It was nice knowing you here in my friend.

$ 0.00
5 months ago

There are two types of nodes. Mining nodes and validation nodes. Validation nodes do not need to be powerful and can even run on a Raspberry Pi. I run such a node. Here you can read how to do it.

$ 0.00
5 months ago