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Cryptocurrency Bitcoin Cash is a decentralized digital currency that came into being, because of the first hardfork of Bitcoin on August 1, 2017. The distribution of the Bitcoin community occurred due to problems with the scale of the Bitcoin network, consequently slowed transactions in the network.
As we have already written above, one of the main problems of Bitcoin was the delay in transactions, sometimes waiting for the sent coins had to wait until 1-2 days, which does not satisfy the users. These problems occur because of the small size of the Bitcoin block, which holds only 2 MB. The Bitcoin Cash block contains 8 MB of information, which makes it more prepared and adapted to the current popularity of cryptocurrency.
An important difference from Bitcoin is that the Bitcoin Cash network is more intelligent than the Bitcoin network, such a characteristic allows it to determine the hashreit thrown at its prey, and in accordance with this change the complexity of mining. If hashreit grows, the complexity of production grows. If hashreit falls, the complexity of mining cryptocurrency also falls.
Hashreit is a unit for measuring the computational power of equipment thrown at the extraction cryptocurrency.
The last but not unimportant problem that Bitcoin Cash solves is the amount of transaction fees. Thanks to the above improvements, the Bitcoin Cash network has become cheaper for users due to low commissions.
Right after hardfork of Bitcoin Cash faced the problem that it did not want to support popular exchanges and wallets. However, after 4 months, i.e. now it is possible to buy it for various cryptocurrency on the most popular exchanges: Binance, Bittrex and Poloniex.. Wallets of Coinomi, Bitcoin ABC and Bitcoin Classic also support Bitcoin Cash.
We present you Bitcoin Cash chart, which depicts the BCH rate to the dollar.
Bitcoin Cash is already familiar cryptocurrency, but with improved rules of consensus. For a short period of existence, the capitalization of cryptocurrency Bitcoin Cash is $22 bn, which allows it to occupy the 3rd place in the rating by capitalization. It is difficult to talk about the prospects of this cryptocurrency, as we do not know how the mining community will treat it in the future. Friends, we will finish our article dedicated to the first hardfork of Bitcoin, but soon, we will publish an article about the second hardfork – Bitcoin Gold. Thank you for staying with us.