Bitcoin Cash (BitcoinCash) is the same as Bitcoin. It is a decentralization-based, peer-to-peer network and consensus initiative, open source code, and a cryptocurrency with blockchain as the underlying technology. The Bitcoin community has been arguing over the issue of scaling for three years. Finally, on August 1, 2017, Bitcoin Cash performed a hard fork at block height 478558, distributed 1:1 with Bitcoin, with a total amount of 21 million, and the isolation was removed. The upper limit of witness and block was upgraded to 8M, and then upgraded to 32M. Through on-chain expansion, the problems of high handling fee, slow confirmation, and poor practicability in the old Bitcoin system were solved, and the promise of Bitcoin as “peer-to-peer electronic cash” was fulfilled. Currently, Bitcoin Cash is maintained by a number of different development teams. It has reached the second place in market value, more merchants are accepting BCH payments, and many exchanges support BCH pricing.
Bitcoin Cash pays attention to the user experience and market demand of cryptocurrency, and will provide more and more secure, convenient and low-cost payment methods, and based on this, it will obtain more durable and stable investment, stored value and settlement functions.
Decentralization
The Bitcoin Cash network is controlled by all Bitcoin Cash users, and no one or organization can change or stop Bitcoin Cash unless the vast majority of Bitcoin users agree to make a change (such as a rule revision or version upgrade).
As an Internet currency, Bitcoin Cash can be sent and received at a very low cost just like sending and receiving emails wherever there is a network. You can send money to anyone around the world 24 hours a day, 365 days a year. Like the internet, the Bitcoin Cash network is open 24/7. The transaction amount is large and small, and no one’s authorization or approval is required anymore.
Anonymous
Bitcoin Cash is more private and anonymous than traditional payment methods such as bank transfers and credit card payments, because it is generally impossible to know who controls the Bitcoin address.
Fixed cap
The Bitcoin Cash protocol guarantees that there will never be more than 21 million bitcoins in existence. The government keeps printing money, oversupplying it endlessly, devaluing everyone’s savings. Bitcoin Cash is rationed and therefore a sound currency.
Smart contract
Bitcoin Cash is a programmable currency that enables smart contracts to be implemented on top of the currency. A programmable economy will significantly solve the problems of transparency and credibility in economic operation and reduce social operating costs.