Cryptocurrency

Bitcoin Cash (abbreviated as BCH) is a split (hard fork) project of Bitcoin (abbreviated as BTC). It retains the basic principles of Bitcoin, that is, decentralization, point -to -point transactions, open source code, etc., but some aspects have been improved and expanded to respond to some issues of the Bitcoin network.The following are the main characteristics and history of Bitcoin cash:Bargainy history: Bitcoin cash comes from Bitcoin on August 1, 2017. The fork is caused by the different views of Bitcoin's expansion in the Bitcoin community. BCH supporters advocate increasing the block size of Bitcoin to increase transaction processing capacity and reduce transaction costs. This leads to a fork of Bitcoin blockchain, forming a Bitcoin cash network.Block size limit: BCH uses a large block size limit, which was originally 8MB, and later upgraded to 32MB. In contrast, Bitcoin's block size limit is 1MB. This enables BCH to handle more transactions and reduce transaction confirmation time and cost.Low transaction costs: Due to the larger block capacity, BCH's transaction costs are usually low, making it a cheaper payment method. This makes small transactions more practical.Consensus rules: BCH adopts a set of consensus rules different from Bitcoin, the most famous of which is the decentralized emergency difficulty adjustment algorithm (DAA). This algorithm aims to ensure that the average time of the block is stable and prevents the occurrence of severe fluctuations in mining similar to Bitcoin.Total supply: Like Bitcoin, the total supply of BCH is also 21 million. This is a fixed upper limit, which means that no more BCH will be created. This is different from traditional currency, and the latter may continue to print the currency that is refreshed.In short, Bitcoin cash is a fork project of Bitcoin, which aims to improve the scalability and availability of the Bitcoin network, especially in dealing with transactions. Although BCH and BTC share some similarity, they have different consensus rules and development directions, so they are two independent cryptocurrencies.