The First and Successful HARD FORK of Bitcoin: Beginners guide on how to Mine Bitcoin Cash

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4 years ago

Bitcoin Cash (BCH) holds an important place in the history of altcoins because it is one of the earliest and most successful hard forks of the original bitcoin. In the cryptocurrency world, a fork takes place as the result of debates and arguments between developers and miners. Due to the decentralized nature of digital currencies, wholesale changes to the code underlying the token or coin at hand must be made due to general consensus; the mechanism for this process varies according to the particular cryptocurrency.

WHAT IS HARD FORK?

Hard Fork is a radical change to a network's protocol that makes previously invalid blocks and transactions valid, or vice-versa. A hard fork requires all nodes or users to upgrade to the latest version of the protocol software.

More information in here about hard fork: https://www.investopedia.com/terms/h/hard-fork.asp

How was BITCOIN CASH created

On July 2017, some of the members of the Bitcoin Community including Roger Ver (the co-creator of Bitcoin Cash) felt to adapt BIP-19 without increasing the block size because the people wanted to treat the Bitcoin as a digital investment rather than as a transactional currency.

The proposal of the Bitcoin core developers called SegWit wanted to improve the way Bitcoin worked by saying that signatures could be moved to a separate piece of paper, one that is filed along with the sheet containing the transaction information where some of the bitcoin activists, investors and the developers behind the Bitcoin Cash we're unhappy or didn't agree on that action because they thought it was a "hack". This controversy lead to split that created Bitcoin Cash.

How to mine Bitcoin Cash?

If believe in this coin, there is a way to support the network and another thing is you can also earn some BCH! It is called "Mining".

Miners are very important in cryptocurrency community as they not only mark transactions as legitimate, they’re also responsible for putting new tokens into circulations.

So if you want to support crypto coins. Go MINE!

How to start mining Bitcoin Cash?

  • First of all, you need to think on how much investment you want to invest. The bigger you invest the more profit you gain.

  • Second, you need to make a Bitcoin Cash wallet where you can put or receive your future mining rewards. And for the safety of your funds, you must choose a wallet where it recommend to store your private keys and another thing is you must have a copy of you private keys!

  • Third thing you need to consider is, you choose if you want to solo mining or join a mining pool.

    *Solo mining- has a higher profit because if you mine a block of transaction, you will get the full reward which is 12.5 BCH all to yourself. But, the problem is it needs an enormous amount of electricity to operate, and if you don't have enough power, you don't stand a slightest chance of sealing off a block.

    *Mining Pool- is a group of miners where they everyone on the group contribute their computing power in order to have a higher chance to mine a block. In a mining pool, you're profit will be smaller but a higher chance to mine a block. If the pool receive some rewards, the rewards will be distributed to the participants and it depends on how much computing power they contribute.

Bitcoin Cash Mining Pools

These are the largest and successful mining pools that I've known:

  • BTC.com

  • ViaBTC

  • Bitcoin.com

  • BTC.top

  • F2Pool

  • Antpool

  • Bitclub

RAISE THE FLAG OF BITCOIN CASH AND MINE NOW!

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