Market Cap:$214,001,434,889
Volume 24h:971,076,883,056
Bitcoin Dominance:bitcoin:69.19%

BCH Price And Information

Bitcoin Cash logo
Bitcoin Cash
$284 .8
price, USD:
$284 .8
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About Bitcoin Cash:

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Information About Bitcoin Cash

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The most popular cryptocurrency is Bitcoin. In August of 2017, another cryptocurrency called Bitcoin Cash was created as a forked form of the original Bitcoin. Both cryptocurrencies use the SHA-256 proof of work hash function and have the same reward system and block times. They each even have a maximum supply of 21,000,000 of their coins available. However, BCC has an 8 MB limit to its block size while Bitcoin has only a 1 MB limit to its block size. The difficulty is adjusted by BCC for every 6 blocks while Bitcoin adjusts it every 2016 blocks.

The origins of BCC really started on July 20th, 2017. This was the day when the Bitcoin Improvement Proposal was activated which is also known as Segregated Witness. This is the name that refers to the soft fork adjustment that was implemented in Bitcoin’s transaction format. It was supposed to solve the limitation problem of the blockchain size which impacted the transactional speed of Bitcoin. However, a lot of people who owned Bitcoins did not like this proposal because the block size limit was not increased. Instead of Bitcoin being treated as a transactional currency, this proposal made it seem like more of a digital investment type of cryptocurrency.

As a result, a project to perform a hard fork of Bitcoin was underway. The first name of this hard fork project was called User Activated Hard Fork (UAHF) and it was managed by Bitmain Technologies Limited in Beijing, China. They are known for being a manufacturer of Bitcoin mining hardware. As the developers worked on this project, a mining pool from China named ViaBTC suggested that this project be called Bitcoin Cash instead. The name stuck and has been used ever since.

The goal of creating BCC was to have the block size limit increase to 8 MB. That way, the ledger will have the ability to process more transactions for this cryptocurrency. Once BCC was finally launched on August 1st, 2017, all the previous Bitcoin transactional history would be inherited by BCC. But, from there on out, all future transactions of Bitcoin would have a separate transaction history than Bitcoin Cash.

People who owned Bitcoins before August 1st can claim BCC if their Bitcoins are stored through a provider which provides Bitcoin Cash and will split it for them. If you have a cryptocurrency wallet for BCC, all Bitcoin transactions and blocks will be rejected for it.