What coin is Bitcoin Cash?
Bitcoin Cash (BCH) is a digital currency forked from Bitcoin (BTC) with the following features: Larger block size (32MB) allows for more transactions; Fast transaction confirmation; More Low transaction fees; stable and reliable network. The differences between BCH and BTC include the use of a hybrid consensus mechanism, different hash functions, and community disagreements.
What is Bitcoin Cash?
Bitcoin Cash (BCH) is a digital currency that forked from Bitcoin (BTC) in 2017. It was created by a group of developers who wanted to increase the block size of Bitcoin, allowing more transactions to be made.
Main features of Bitcoin Cash:
1. Larger block size:
vs. BTC’s 1MB block size In comparison, BCH’s block size is 32MB. This allows more transactions to be processed in each block.
2. Fast transaction confirmation:
BCH transactions are usually confirmed faster than BTC transactions due to the larger block size.
3. Lower transaction fees:
Due to the larger block size, transaction fees on BCH are generally lower than BTC.
4. Stability:
The BCH network has been running stably for many years, providing its users with a reliable trading experience.
The difference between Bitcoin Cash and Bitcoin:
In addition to block size, there are several key differences between BCH and BTC:
- Consensus mechanism: BTC uses the Proof of Work (PoW) consensus mechanism, while BCH uses a hybrid PoW and Proof of Stake (PoS) mechanism.
- Hash function: BTC uses the SHA-256 hash function, while BCH uses a combination of SHA-256 and BLAKE-256 hash functions.
- Community: There are some disagreements between the BTC and BCH communities, and both parties have different opinions on their respective views.
Conclusion:
Bitcoin Cash is a digital currency forked from Bitcoin due to its large block size, fast transaction confirmation and lower fees to differentiate from BTC. Despite some differences, BCH remains an important player in the cryptocurrency market.
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