Bitcoin Cash (BCH) is one of the top cryptocurrencies nowadays. Plenty of companies accept it as payment. Bitcoin Cash represents digital money you can spend on purchasing goods and pay services.
Bitcoin Cash is a fork of Bitcoin. In other words, it is a new cryptocurrency born from the original Bitcoin blockchain. Unlike Bitcoin, Bitcoin Cash has a significant difference called "block size", which reaches 32MB against only 1MB Bitcoin core block size. Not only allows this to process way more transactions daily, but it also provides lower transaction fees.
What is a hardfork?
By itself, the term "hard fork" implies a blockchain protocol and fork. The blockchain protocol is a set of network rules determining the way the connection, transaction, and mining are performed. Everything in that network must comply with the rules. The fork is another version of the protocol with different rules deriving from the original one. The fork can be soft. It means that it has backward compatibility. If there is no backward compatibility, then it's a hard fork. The hard fork protocol underly the crypto that obeys the new protocol rules.
What means no backward compatibility?
It means the whole new set of network rules incompatible with previous ones. Bitcoin and Bitcoin Cash represent different networks and are incompatible with each other.
Bitcoin Cash features
- Faster and reliable p2p transactions
- Low cost transaction fees
- 0-confirmation transactions
- Open source
- Proof of work algorithm
- Limited supply of 21M BCH
Where to store BCH?
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