Bitcoin Cash (BCH) Overview
Bitcoin Cash (BCH) is a cryptocurrency that was created in 2017 as a fork of Bitcoin (BTC) to improve scalability and transaction speed. It aims to function as a peer-to-peer electronic cash system with low fees and fast transactions.
Key Features of Bitcoin Cash (BCH):
Larger Block Size: BCH increased the block size from Bitcoin's 1MB to 8MB (later expanded to 32MB) to handle more transactions per block.
Lower Fees: BCH transactions typically have lower fees compared to Bitcoin.
Faster Transactions: Due to larger blocks, BCH can process more transactions per second than Bitcoin.
Decentralized & Secure: Uses proof-of-work (PoW) consensus like Bitcoin, ensuring security and decentralization.
Bitcoin Cash vs. Bitcoin:
Use Cases of BCH:
Fast and Cheap Payments: Ideal for daily transactions.
E-commerce and Merchant Adoption: Many online stores accept BCH as payment.
Remittances: Used for sending money internationally with low fees.
