Shortly, What is Bitcoin Cash?
Bitcoin Cash (BCH) is a digital currency created in August 2017, arising from a fork of Bitcoin Classic. Bitcoin Cash increases the size of blocks, allowing more transactions to be processed.
Created upon the bitcoin model, Bitcoin Cash is a cryptocurrency that is:
- Decentralized. The network is spread out across many different computers all over the world;
- Peer-to-Peer. Person A can send Bitcoin Cash directly to Person B from anywhere in the world without needing an intermediary, like a bank.
- Secure. Bitcoin Cash uses strong encryption to prevent hacking, fraud, and cyber attacks.
- Open. The history of all Bitcoin Cash transactions is logged on a publicly accessible blockchain that can be viewed and verified by anyone.
The biggest difference between bitcoin and Bitcoin Cash has to do with the size of blocks on the blockchain. By increasing block size from bitcoin’s 1MB up to 8MB, Bitcoin Cash allows many more transactions to be processed in one block. The idea is to process larger transaction volumes faster and for lower fees.
See more: https://www.xmlgold.eu/en/news/article/674/We-have-added-Bitcoin-Cash/