What are the key features of Bitcoin Cash and how does it work?

3 answers

• Dec 27, 2021 · 3 years ago
  Bitcoin Cash is a cryptocurrency that was created as a result of a hard fork from the original Bitcoin blockchain. It aims to provide faster and cheaper transactions compared to Bitcoin. One of the key features of Bitcoin Cash is its larger block size, which allows for more transactions to be processed in each block. This helps to reduce congestion on the network and lower transaction fees. Additionally, Bitcoin Cash has a decentralized nature, meaning that it is not controlled by any central authority. Transactions are verified by a network of computers known as miners, who compete to solve complex mathematical problems in order to add new blocks to the blockchain.
  674337
• Dec 27, 2021 · 3 years ago
  Bitcoin Cash, often referred to as BCH, was created in 2017 to address some of the scalability issues faced by Bitcoin. It operates on a peer-to-peer network, similar to Bitcoin, where users can send and receive funds directly without the need for intermediaries. One of the main differences between Bitcoin Cash and Bitcoin is the block size. Bitcoin Cash has a block size of 8MB, while Bitcoin has a block size of 1MB. This larger block size allows for more transactions to be included in each block, resulting in faster and cheaper transactions. Bitcoin Cash also utilizes the Proof-of-Work consensus algorithm, similar to Bitcoin, to secure the network and validate transactions.
  683228
• Dec 27, 2021 · 3 years ago
  Bitcoin Cash, also known as BCC, was created to address the scalability issues of Bitcoin. It offers faster transaction times and lower fees compared to Bitcoin. Bitcoin Cash has a larger block size of 8MB, which allows for more transactions to be processed per block. This means that transactions can be confirmed more quickly, resulting in faster payments. Additionally, Bitcoin Cash aims to be more accessible to everyday users by providing a user-friendly interface and wallet options. It is important to note that Bitcoin Cash is supported by various cryptocurrency exchanges and wallets, making it easy to buy, sell, and store.
  633159