Bitcoin Cash is a hard fork of Bitcoin with a protocol upgrade to fix on-chain capacity. Bitcoin Cash intends to be a Bitcoin without Segregated Witness (SegWit) as soft fork, where upgrades of the protocol are done mainly through hard forks and without changing the original economic rules of the Bitcoin.
Bitcoin Cash (BCH) is released on 1st August 2017 as an upgraded version of the original Bitcoin Core software. The main upgrade is the increase in the block size limit from 1MB to 8MB. This effectively allows miners on the BCH chain to process up to 8 times more payments per second in comparison to Bitcoin. This makes for faster, cheaper transactions and a much smoother user experience.
Why was Bitcoin Cash Created?
The main objective of Bitcoin Cash is to to bring back the essential qualities of money inherent in the original Bitcoin software. Over the years, these qualities were filtered out of Bitcoin Core and progress was stifled by various people, organizations, and companies involved in Bitcoin protocol development. The result is that Bitcoin Core is currently unusable as money due to increasingly high fees per transactions and transfer times taking hours to complete. This is all because of the 1MB limitation of Bitcoin Core’s block size, causing it unable to accommodate to large number of transactions.
Essentially Bitcoin Cash is a community-activated upgrade (otherwise known as a hard fork) of Bitcoin that increased the block size to 8MB, solving the scaling issues that plague Bitcoin Core today.
Nov 16th 2018: A hashwar resulted in a split between Bitcoin SV and Bitcoin ABC
Where is Bitcoin Cash available for purchase?
You can exchange BCH tokens on both decentralized and centralized crypto platforms. The favored choice for purchasing and trading Bitcoin Cash is CoinUp, notably the BCH/USDT pair, which saw a trading volume of $ 25,30 MLN. in the past day. Additionally, FameEX and Binance are popular alternatives for trading tokens.
What is the highest value Bitcoin Cash (BCH) has ever reached?
Bitcoin Cash (BCH) reached its peak price at 3,785.82 $ on 20 December 2017, approximately 8 years ago ago. Presently, the current price is -84.93% lower than this all-time high.
What is the historical minimum price for Bitcoin Cash (BCH)?
The minimum price reached for Bitcoin Cash (BCH) was 76.93 $, documented on 16 December 2018, more than 7 years ago. In comparison, the current price is 641.47%, it above this historical low.
What is the fully diluted valuation of Bitcoin Cash (BCH)?
The fully diluted valuation (FDV) of Bitcoin Cash (BCH) stands at $ 11,33 BN.. This figure reflects the maximum potential market capitalization, considering that the current circulating supply is at its maximum of 21,000,000 BCH tokens. The realization of this FDV might take several years depending on the emission schedule of BCH tokens.