Bitcoin Cash (BCH) is a cryptocurrency which is the result of a Bitcoin hard fork as some developers are concerned about the time and usage limitation on Bitcoin blockchain
Essential details:
- Bitcoin Cash (BCH) was launched on August 1st in 2017 due to the “hard fork”* of Bitcoin which resulted in the introduction of a new blockchain and cryptocurrency
- Bitcoin Cash or BCH is a cryptocurrency that was created from a hardfork of Bitcoin (BTC), therefore users can usually use a wallet address of BTC for BCH transactions. In the beginning, the wallet address of BCH was in the 'Legacy' format. Later on, the team of developers of BCH created a new format called 'Cash Address' to make the BCH differ from the BTC address to prevent confusion
- Hard fork is a permanent divergence of a blockchain with the new set of rules where all the participants have to upgrade their software if they want to continue participating and validating new transactions. Basically, instead of starting from scratch, the Bitcoin Cash currency has used the Bitcoin transaction history before the fork and future Bitcoin Cash transactions will be recorded on a separate blockchain with the new rules
- Maximum supply of 21,000,000 BCH
What can we expect going forward from Bitcoin Cash?
- We have seen previous successful hard forks of cryptocurrencies before
- The value of this splinter currency has been volatile but gained significant values and become a credible cryptocurrency
- Many of the experts came out to support Bitcoin Cash as a good choice for investment