Bitcoin Cash

Bitcoin Cash is a spin-off, or a hard fork, of Bitcoin. A hard fork is a split of the existing blockchain into two. Speaking of Bitcoin Cash, it is a divergence from the Bitcoin blockchain.

Like the flagship cryptocurrency, Bitcoin Cash is both a payment system and a means of payment. The currency code for Bitcoin Cash used to be BCC. However, to avoid confusion with Bitcoin network tokens, some exchanges and exchange services started using the ВСН currency code.

Origin history

When BTC became a popular cryptocurrency, the network load increased significantly, causing slow confirmation and processing of transactions. Therefore, developers initiated a fork of the Bitcoin blockchain to increase the block size. Since there is no way of changing or clearing the blockchain, both branches continued to exist independently. The second blockchain, which consisted of 8-megabyte blocks, was called Bitcoin Cash.

The benefits of Bitcoin Cash are low commission fees, high transaction speed, security, and convenience for miners and investors.

Bitcoin Cash vs Bitcoin:

1. Low commission fees. If you want to save money when making transactions, use Bitcoin Cash.
2. Fast transaction confirmation. Bitcoin Cash processes more transactions per second than Bitcoin.
3. Scalability. The block size of Bitcoin is limited to 1 MB, while Bitcoin Cash offers a block size of 8 MB. A Bitcoin block contains about 2,500 transactions. Meanwhile, with a BCH block, this figure reached 7,000 transactions.

The past performance of Bitcoin Cash shows its constant evolution. Every drop in price is followed by a rise, which is beneficial both for investors and those who are just considering making transactions.

Crypto experts believe that Bitcoin still has great potential. Therefore, its hard fork will unlikely overtake it in the near future. At the same time, miners and investors are increasingly interested in the new coin.