WHAT IS BITCOIN CASH?

Bitcoin Cash is considered to be one of the fastest growing cryptocurrencies of all time after Bitcoin. However, with this coin coming to light, one may wonder where it really hailed from.

First, we have to understand the first word in “Bitcoin Cash”. Lots of folks, especially those who are into the world of fintech and cryptos, are familiar in what bitcoin is and where it came from. However, for those who are new to the industry, here's  a quick review; 

Bitcoin is known to be the dominating cryptocurrency as of press time. It was created by an anonymous person or group of people under the alias Satoshi Nakamoto a decade ago. Now let's get back to how and why Bitcoin-Cash was created.  

Since Bitcoin’s launch, a buzz about its scalability spread in the crypto world. Scalability is a “characteristic of a system, model, or function that describes its capability to cope and perform well under an increased or expanding workload or scope.”

The scalability issues of Bitcoin then caused not only a slow transaction processing time in the Bitcoin network. It also brought a rift to the community, which led to engagement to fork. A fork is a change that happens to a digital currencies’ software. When a cryptocurrency forks, it usually means that developers are trying to improve its protocol or the consensus has been split.

The permanent split creates two separate versions of the blockchain, which in turn constructs two different digital currencies. 

On August of 2017, developers of Bitcoin-ABC were said to initiate a hard fork of the bitcoin blockchain in the hopes of increasing its block size. The created chain was dubbed as Bitcoin Cash or BCH.

Bitcoin Cash was designed to process transactions in a speedy manner and at a low cost. It took one megabyte block of bitcoin and had it raised to eight megabytes. This block expansion allowed for more transactions to be processed and paved the way for reduced fees. This also helped in minimizing the traffic or bottleneck of Bitcoin’s network as usage heightened.

Bitcoin Cash(BCH) with its use case is vividly another Cryptocurrency to mine and amass wealth.  Pre-order any of our BCH packages right now to start earning daily for 730 days.