What is Bitcoin Cash (BCH)?
Bitcoin Cash is a cryptocurrency that was created by leaving the Bitcoin blockchain in 2017 and is denoted by BCH. It is one of the most traded crypto currency values.dec.
Restricting the transactions that can save blocks in the Bitcoin system to a certain limit causes the transactions to slow down. With Bitcoin Cash, this problem has been avoided and the difficulties in sending and receiving money have been overcome.
Although the elimination of problems in the Bitcoin system has been raised many times, the lack of a solution made such an innovation impossible. At first, this system, which was established to prevent abuse, began to become a problem with the increasing popularity of Bitcoin and the increasing number of users.
Bitcoin developers have chosen to produce a new coin on the same blockchain instead of changing the Bitcoin system as a solution to these problems. During the first periods of Bitcoin Cash, the amount of Bitcoin Cash was defined as the amount of Bitcoin on users' accounts.
Bitcoin Cash, as a solution to the problems in the Bitcoin system, increased the block sizes from 1 MB to 8 MB, increasing the number of transactions recorded in blocks to make transactions faster and more efficient.
What Are the Advantages of Bitcoin Cash?
Bitcoin Cash has become a faster confirmation system by increasing the capacity of its traded blocks to 8 MB separately from the Bitcoin system. Bitcoin Cash has increased its block capacity by removing the SegWit protocol found in the Bitcoin system. It is traded on many exchanges with the advantage that it is one of the most traded crypto currencies.
How to Mine Bitcoin Cash?
Mining is an important factor in Bitcoin Cash as it is for other cryptocurrencies. It is traded on the Bitcoin blockchain system. It is important for the continuity and security of the system.
Before you start mining, you should create a wallet where you can store your earned Bitcoin Cash values. In order to make a profit, you need to have ASIC devices specially produced for this purpose in Bitcoin Cash mining, as in Bitcoin mining.
You receive a reward for each block you create in mining. The size of Bitcoin Cash blocks is 8 MB, which requires more processing power and more energy to create blocks.
You can mine Bitcoin Cash individually or as part of a pool. Since the block completion process is a difficult process, if you do not have enough equipment, it will be more profitable to do it by being included in a pool.
What Is the Difference Between Bitcoin and Bitcoin Cash?
- Bitcoin Cash, created by separating it from the blockchain used by the Bitcoin system, is a new and up-to-date cryptocurrency value.
- Bitcoin Cash blocks are 8 MB in size, while the Bitcoin block limit is limited to 1 MB.
- Bitcoin uses the SegWit protocol, Bitcoin Cash has removed the SegWit protocol from the system.
- Bitcoin Cash has a faster and cheaper trading system.