When it comes to cryptocurrency many people are not aware that there are other ‘types’ of Bitcoin. For example Bitcoin Cash, Bitcoin Gold and Bitcoin Diamond are all based on Bitcoin but they are still different than their predecessor. These coins were all created as a result of suggested updates to the Bitcoin protocol that weren’t agreed by everyone.
What is Bitcoin Cash?
There are a lot of similarities between Bitcoin cash (BCH) and the bitcoin. Up until 2017 they shared the same transaction history but after August 2017 and the so called ‘hard fork’ the two currencies are now completely separate. A hard fork is a split in the blockchain. The separation resulted mainly in the disagreement in the crypto community about the speed of processing the transactions and the fees.
Bitcoin Cash has a significantly larger block size compared to Bitcoin: bitcoin blocks are limited to 1MB, whereas BCH blocks are 8 MB in size.
After the separation Bitcoin cash is able to process transactions more quickly than the Bitcoin network, meaning the wait times are shorter and transaction processing fees tend to be lower.
Reasons to own Bitcoin Cash.
- It has faster processing rate
- It’s secure
- It has low fees
- It’s reliable
Buying Bitcoin cash is relatively easy compared to other tokens on the market.
It is supported and traded by many exchanges, making it possible for investors to get it wherever they feel is more convenient.
The future of Bitcoin Cash.
Bitcoin Cash has multiple independent developers improving the software. The decentralised development also keeps Bitcoin Cash resistant to political and social attacks on protocol development.
BCH is supported by multiple wallet providers, including Jeton. In Jeton Wallet, you can manage and exchange Bitcoin Cash, we provide you with one of the best option to store, send and exchange Bitcoin and Bitcoin Cash.