It differentiates itself from Bitcoin by processing more transactions. Bitcoin Cash is a fork of Bitcoin and technically similar; however, its increased block size makes it more likely to be used as a bitcoin cash price system as opposed to a store of value system like Bitcoin. The hard fork that created Bitcoin Cash took effect on August 1, Bitcoin holders, as of common block on August 1, at approximately UTC, equivalently bitcoin cash price the same amount of Bitcoin Cash as bitcoin held at that time.
The first independent Bitcoin Cash block was Bitcoin Cash can be bought and sold for fiat currency or other digital currencies. Bitcoin Cash can be purchased on a cryptocurrency exchange and stored in a crypto wallet and custodian like Gemini.
Updated Dec 10, What is Bitcoin Cash? Bitcoin cash is a cryptocurrency created in Augustfrom a fork of Bitcoin. Bitcoin Cash was created to accommodate a larger block size compared to Bitcoin, allowing more transactions into a single block. Despite their philosophical differences, Bitcoin Cash and Bitcoin share several technical similarities.
The supply schedule is embedded in the Bitcoin Cash protocol. Its mission is to create an electronic peer-to-peer cash system with larger blocks that will increase transaction throughput and lower fees.
While the Bitcoin network has a 1 megabyte blocksize 2 megabytes with Segregated Witness transaction format and is capable of processing 7 transactions per second, the Bitcoin Cash network has a 8 megabyte block size, which is times larger. In comparison, Visa, which is a centralized, global payment network, is capable of processing over million transactions per day and 24 thousand transactions per second.
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