Bitcoin Cash repeats BTBitcoin Cash Blockchain Value C’s original code in many ways: the supply limit is 21 million. Tokens, PoW protocol and SHA256 algorithm. However, it also brings various improvements.
The main features of the BCH blockchain are:
Maximum block size increased from 1MB to 8MB and then to 32MB
They implement a mechanism where the two chains run in parallel, so you can’t erase, copy information, and send a message twice
The team has improved security due to changes in transaction types and elimination of secondary hashes and input signatures
The difficulty algorithm is adjusted every 6 blocks instead of every 2016 blocks like the original Bitcoin blockchain
What is driving the price of Bitcoin Cash
There are a number of factors that are dragging down the price of Bitcoin Cash today. First, it has poor security, leading to accidental forks and loss of money to users. Additionally, 51% of attacks damaged their reputation and trust.
Despite its problems, Bitcoin Cash remains the most successful fork of Bitcoin. Today, it has a huge circle of miners and merchants. The limited supply of the token will eliminate inflation in the network and can positively affect its price.
The development team sought to find a way to improve the overall situation. Bitcoin Cash is preparing a major update that should fix everything:
Improved security and defense against malicious attacks (including 51% of attacks)
Increase mainnet bandwidth to thousands of tps
Reduce transaction confirmation time to 2-3 seconds
Introduce smart contracts
Use some of Nakamoto’s technology to cut commissions
Introduce CashShuffle protocol to make operations untraceable
Take the load off of transfers and use Schnorr to sign and format UTXOs to speed up the blockchain.