Bitcoin Cash
Last updated | 7 hours ago |
Price per BCH in USD | $ 314.6338141663 |
Price per BCH in Bitcoin | 0 |
Volume over the last 24 hours | $ 257,646,455 |
Market cap in USD | $ 6,239,560,196 |
Change in % over the last hour | 0.053988 |
Change in % over the last 24 hours | -3.23340079 |
Change in % over the last 7 days | -5.04147886 |
BCH specifications
Name | Bitcoin Cash |
Symbol | BCH |
Minable | Yes |
Algorithm | SHA-256 |
Prooftype | PoW |
Total coin supply | 21000000 |
Premine: | N/A |
Coin description
Bitcoin Cash (BCH) is a fork of Bitcoin designed to address scalability issues by increasing the block size limit from 1 MB to 32 MB. This allows for faster and cheaper transactions compared to Bitcoin. Like Bitcoin, Bitcoin Cash operates on a proof-of-work consensus mechanism, relying on miners to validate transactions and secure the network. Bitcoin Cash positions itself as a practical solution for everyday payments, emphasizing usability and accessibility.
Bitcoin Cash Scalability Advantages
Bitcoin Cash aims to serve as a peer-to-peer electronic cash system, emphasizing everyday usability. Its larger block size reduces congestion and transaction fees, making it ideal for microtransactions. While it shares similarities with Bitcoin, Bitcoin Cash positions itself as a more scalable and user-friendly alternative. For instance, merchants can accept Bitcoin Cash payments without worrying about high fees or slow confirmation times, making it a viable option for small businesses.
Despite its advantages, Bitcoin Cash has faced criticism for potentially centralizing the network due to its larger block sizes, which require more storage and bandwidth. However, proponents argue that the trade-off is worth it, as it enables faster and cheaper transactions. Keywords like Bitcoin Cash scalability and low-cost transactions are closely tied to its mission.