What is Bitcoin Cash?
Bitcoin Cash (BCH) is a cryptocurrency that was created in August 2017 as a hard fork of the original Bitcoin (BTC).
It was created to increase the block size limit of Bitcoin from 1MB to 8MB, allowing for faster transaction times and lower fees. The main purpose of Bitcoin Cash is to provide an alternative to Bitcoin that is more suitable for everyday transactions. Bitcoin Cash has a few key differences from Bitcoin.
Firstly, it has a larger block size limit, which allows for more transactions to be processed in each block. This means that transactions are faster and cheaper than on the original Bitcoin network. Secondly, it uses a different consensus algorithm called Proof-of-Work (PoW).
This algorithm requires miners to solve complex mathematical problems in order to add new blocks to the blockchain. Finally, it has different transaction fees than Bitcoin, which are generally lower than those on the original network. Overall, Bitcoin Cash is an alternative cryptocurrency that provides users with faster and cheaper transactions than those available on the original Bitcoin network.
It also offers users more control over their funds due to its larger block size limit and different consensus algorithm.
