Join 54,629 users and earn money for participation

A beginner friendly article about BCH..

32 84 exc boost
Avatar for girlnextdoor
Written by   63
7 months ago (Last updated: 4 months ago)

If you're new in cryptocurrency world,this article might help you .I tried to answer the questions which came up in my mind when I first came here.

Before 20th july of 2020, i didn't aware of the existence of cryptocurrency world.A little backdated nah?😅 Whatever,I discover these whole new world on that day by the help of my friend @Arnavaria .She introduced me with these platform read.cash.And through read.cash i entered to this world.

As i say,i had a zero knowledge about cryptocurrency and BCH but i am a learner.I have watched videos,i have read articles. Though many terms seem to be difficult for me, i am still working on it and i 'll not lose hope until i get it completely. Today i gathered some courage to write about ABC of Bitcoincash as @Arnavaria declared a writing contest about BCH in a simpler way. Let's see if I could fulfill her expectations or not.

BCH or Bitcoin cash is a cryptocurrency.So first thing should be explained first.

  • What is Cryptocurrency?

    It has a longer definition but on short term it means 'Virtual Cash'.It has no physical existence.You can't print them like 'US dollars' or 'Bangladeshi taka'.First decentralized cryptocurrency is Bitcoin.

Here , comes another question.

  • What is Decentralization?

    It means not being under control of any central authority like bank or Government.It is maintained by Blockchain technology.

  • What is Blockchain technology?

    As the name says, Blockchain is chain of blocks contain data e.g. transaction data.It acts like distributed ledger ,it is transparent,any one can see it.That's why not a single person or group can make a change in it.Blocks are interconnected with each other in such way no one can do tamper with it.It's a very secure technology.

  • How BCH created?

    When bitcoin transaction added to a block it needs storage space. Maximum capacity for each block of transaction is 1 Mb.It's not possible to hold many transactions per second due to shortage of space.And a new block is created in every 10 minutes.So,when a lot of people sending BTC it needs more time to enter a block and to get confirmed. If anyone willing to cut the line he have to pay higher transaction fees.

picture shows you need 11.62$ worth BTC to send 9.85$ worth BTC
  • Due to these problems(long confirmation,high transaction fees),on August 1st,2017 an alternate version of Bitcoin is created which is BCH .BCH is supported by Roger Ver and Bitmain.It has larger block size of 8 Mb which make it different from original BTC.

  • What are the advantages of BCH?

    BCH transaction fees are low and require shorter time for transaction.Many transactions can be listed per second.Because of these properties it can be used in day to day activity. And like other cryptos you can carry it anywhere and can use it where it is accepted by using your BCH wallet.

BCH in future:Users play a vital role here.More people adopt BCH, more brighter will be it's future.Til now BCH is holding its own space with other cryptocurrencies.I am hopeful it will stand strong in future.

That's all my knowledge about BCH.Please correct me if i do wrong anywhere . I would love to learn more from you.

Thanks for patience reading.♥

36
$ 2.12
$ 1.02 from @TheRandomRewarder
$ 0.50 from @Fexonice1
$ 0.50 from @Arnavaria
+ 2
Sponsors of girlnextdoor
empty
empty
Avatar for girlnextdoor
Written by   63
7 months ago (Last updated: 4 months ago)
Enjoyed this article?  Earn Bitcoin Cash by sharing it! Explain
...and you will also help the author collect more tips.

Comments

Great article....this article also helpfull for us mam...

$ 0.00
5 months ago

Thank you for sharing your article

$ 0.00
6 months ago

Wowww..best wishes dear

$ 0.00
7 months ago

Thank you babe

$ 0.00
7 months ago

Apu...good writing...keep it up👍

$ 0.00
7 months ago

Thank you little sis

$ 0.00
7 months ago

Yah but good trying

$ 0.00
7 months ago

Seeing your best effort in this article....u r a hardworker..wish u good luck....

$ 0.00
7 months ago

Thanks for the compliment.Still there are more things to understand.

$ 0.00
7 months ago

Best of luck

$ 0.00
7 months ago

Yeah😅

$ 0.00
7 months ago

Nice article

$ 0.00
6 months ago

Well explained about bch and on other pointers about cryptocurrency,i was also a newbie in cypto and bch is one of my cyptocurrency in almost transaction,

$ 0.00
6 months ago

Thanks for appreciation..I was nervous if I presented it perfectly as it is my first article about cryptocurrency but your comment encourage me..thank you

$ 0.00
6 months ago

Everybody subscribe me i will subscribe you (Promise)

$ 0.00
6 months ago

Don't do these comments Yaar..you 'll be banned...😔😔😔please understand...publish interesting articles , everyone will feel interested and will automatically follow you.. there's no shortcut of gaining success..please ..saying it as a well wisher.. don't do these..do good things..

$ 0.00
6 months ago

Thanks for sharing this article to us. I am impress. you give nice explained about BCH and on other pointers about cryptocurrency.

$ 0.00
6 months ago

I hope you gather some knowledge from this article..I didn't know about BCH and cryptocurrency .Then I did some research and make this article so that newcomers may get help from it.

$ 0.00
6 months ago

its okk

$ 0.00
6 months ago

Nice

$ 0.00
5 months ago

Thanks for this informative article. But I guess BCH might lose its ground sooner or later this year. I hope not!

$ 0.00
6 months ago

Welcome..Mass adoption can solve this problem I think..

$ 0.00
6 months ago

Lovely

$ 0.00
6 months ago

BCH is good crypto currency to deal with till now I have very good experience with BCH 👍

$ 0.00
6 months ago

I like your article. Clearly explained and made simple so most people can understand. I think this is something missing in this platform and among its user. And the more people understand the more people can use it. I might link to it in a future article about on similar subject if you do not mind. Thanks for sharing.

$ 0.00
5 months ago

Yeah..most people aren't aware of these things..even me also...so I tried to present it in simpler way..

No, I won't mind..thanks for your appreciation.

$ 0.00
5 months ago

Excellent

$ 0.00
5 months ago

Wowwww...your article is full of information...!!! Thanks for sharing that kind of stuff with us...!!! Most of the this i dont know before..!!! Thankyouu thankyouuuu... You did an amazing work..keep going...

$ 0.00
5 months ago

When I read in class 10 I always read about cryptocurrency specially bitcoin. I almost mad for earn it. Because I can't withdraw for lack of knowledge. I left that time. But now I am here now😌😌 and I am earning 😌

$ 0.00
5 months ago

Yes thanks lot,this article is helpful for me.

$ 0.00
5 months ago

Congratulations, your article has been selected as runner up for the competition. I am sending you your prize won though upvote here. Enjoy.

$ 0.00
7 months ago

Thank you very much,sir..I hope you like my article.

$ 0.00
7 months ago