In 2009, a mysterious figure named Satoshi Nakamoto (nobody knows who it really is yet) created the world’s first decentralized digital currency that could be exchanged without the need for a third party. This currency was called Bitcoin, and since its inception it has revolutionized the way we think about money. As Bitcoin gained popularity, several other “forks” were created, including one called Bitcoin Cash (BCH). Today, let’s take a look at what Bitcoin Cash is, how it works and why people are so interested in investing in this cryptocurrency.
What is Bitcoin Cash?
Bitcoin Cash (BCH) is a fork of the original Bitcoin protocol. It was created to address scalability issues with Bitcoin by increasing block size limits and allowing for faster transaction times. BCH supporters believe that larger blocks are necessary to accommodate increased usage of Bitcoin and they believe that this will make transactions cheaper and more efficient overall.
The most notable difference between BCH and Bitcoin is their block sizes; while BTC can only handle up to 1MB per block, BCH can handle up to 8MB per block. This means that BCH can process more transactions in less time than its predecessor. Additionally, BCH has lower fees associated with it than BTC.
Who Created Bitcoin Cash?
Bitcoin Cash was created in 2017. It was developed by a segment of the crypto community who believed Bitcoin needed additional scaling capabilities. As a result, they made changes to the Bitcoin protocol and then initiated a hard fork of the underlying blockchain to create Bitcoin Cash. This fork gave the crypto community an alternative crypto asset with different features than Bitcoin for creating transactions. Bitcoin Cash continues to be updated and improved over time in order to build an increasingly better crypto network for users.
Why Invest in BCH?
Bitcoin Cash has seen impressive growth since its launch in 2017 and currently holds the number four spot on CoinMarketCap’s list of top 10 cryptocurrencies by market cap. The surge of interest in this coin has been attributed to its low transaction fees, fast confirmation times and larger block size limits which make it an attractive option for traders and investors alike. Additionally, BCH operates on a Proof-of-Work consensus algorithm which allows miners to receive rewards for validating transaction blocks on their network, yet another incentive for people to invest in this cryptocurrency.
Key Highlights
Bitcoin Cash has a larger block size than Bitcoin, which allows for more transactions to be processed per block.
It also has lower fees than Bitcoin, which makes it more attractive for users who are looking to make smaller transactions.
It is more resistant to double-spending than Bitcoin, which makes it less likely for users to lose their funds due to fraudulent activity.
An Alternative To Bitcoin?
In conclusion, understanding what is Bitcoin Cash is essential when getting involved with trading or investing in this token. With its larger block size, faster transaction times and low fees combined with an easy-to-use interface make Bitcoin Cash an attractive opportunity for those looking to get involved with cryptocurrency.
Additionally, with more merchants accepting payments made using BCH every day as well as growing support from developers around the world, now may very well be the perfect time to consider this cryptocurrency. Always do your own research and consult with a financial advisor.
Kostas Alekoglu
Kostas Alekoglu has been involved with the world of cryptocurrency, blockchain and web3 since 2018. He has been a part of numerous altcoin projects in the sectors of DeFi, security, crypto gaming, and NFTs.
