BCH bitcoin cash

Bitcoin was released in January 2009

BCH developed quite successfully for 8 years, but the massive influx of users in 2017 caused a series of overloads and, as a result, a significant drop in the transaction rate, which called for the developers' intervention. They made amendments to the data storage structure, changed the transaction check algorithm, and introduced new SegWit addresses. This partially solved the issue, but not everyone was satisfied. Amaury Sechet, a Bitcoin team member, has chosen to move in a different direction and, together with a team of like-minded people, initiated the network's hard fork on the 478558 block, thereby creating a new digital currency. It was called Bitcoin Cash.

Backing

Without delving into technical details, the answer is: by the total capacity of mining pools. The generation of new blocks and confirmation of transactions are carried out by miners themselves, who ensure the system's development and guaranteeing the network's decentralization. A simple axiom is true in this regard: the more users there are in the system, the higher its security and decentralization are, and the more evenly the mining income is distributed.

The Reasons for the Split

The efficiency of any decentralized blockchain project directly depends on miners, programmers, and investors who buy tokens for profit. BTC is no exception in this regard. The immutability of the blockchain is one of its salient features, as well as an advantage. However, when technical difficulties occur, the immutability of the chain turns into a serious drawback, which elimination requires drastic measures. Given all this, the division of the blockchain into independent branches is one of the simplest and most effective solutions. If the developers wish, a fork is released — a new virtual currency created based on the same code. In the case of the BCH fork, the information block's volume was increased, and a new digital signature algorithm was introduced.

The Key Differences From the Basic Coin

Issuance

In the usual sense, issuance is an emission of new banknotes. When it comes to cryptocurrencies, this term means the generation of new tokens. In the case of BHC, there can be 21,000,000 of them and no more. Approximately 70.5% of them (15,000,000) were generated immediately, as the fork completely copies the source chain up to the point of the split. Miners receive 12.5 BCH from each signed block. The estimates show that Bitcoin Cash mining will come to an end in about 15 years, but even after that, token holders will be able to earn on the transaction fees. A twofold reduction in the remuneration amount occurs every 4 years.

Development Prospects

Judging by the value dynamics and the volatility, it is highly likely that BCH will develop more slowly than BTC. At the same time, it can be safely assumed that the coin has a bright future. This is supported not only by eminent analysts — the number of users who advocate a boycott of bitcoin and the use of its fork is growing every day. The alternative coin already attracts a major part of all the digital market's investments, and there is every reason to believe that this trend will increase in the foreseeable future and become stable. BCH is more technically advanced and adapted to modern realities. It can serve as a daily payment system with a low fee. It is increasingly being considered as a tool for high-yield investment with a moderate risk level. There is quite a deep correction in the market now, at the end of which the instrument's value will inevitably grow. Given all this, today is the best time to buy BCH — the coins that will soon bring a good profit. Those who would like to diversify risks and protect their cryptocurrency portfolio from significant price swings should also seriously consider Bitcoin Cash as a risk-hedging tool.

Where to Purchase and Exchange Bitcoin Cash

Peer-to-peer systems attract various sorts of criminals due to the absence of a regulator. To avoid becoming a victim of fraudsters, it is better to purchase and exchange cryptocurrencies on reliable platforms. P2B is one of the most attractive in this context. Besides the unprecedented high transaction security level, the exchange provides one of the most favorable conditions, which makes it extremely attractive on the cryptocurrency market.The exchange has been successfully developing since 2018 and is rated among the top 12 largest platforms by CER. It is officially recognized as one of the safest and user-friendliest, including for investing in promising forks.

The Terms of the P2B Referral Program

P2B is attractive not only because of its security level, convenient interface, and favorable rates. The exchange provides users with almost limitless opportunities to earn extra income through a referral program. It has been implemented and successfully functioning since 2018. To take advantage of it, you need to attract new users. These can be friends, acquaintances, and strangers who are looking for a reliable crypto service for buying or exchanging BCH and other coins. For you to receive a reward, they must register via your referral link and make a deal to buy, sell, or exchange cryptocurrency. If all the conditions are satisfied, you will receive up to 15% of the total turnover of your referral in the transactions' currency. The reward is paid at the end of each month.Now you know what Bitcoin Cash is, how it differs from the basic token, and why it is profitable to invest in it. Moreover, you are already aware of the importance of buying or exchanging cryptocurrency on proven platforms and understand where it is most safe and profitable to perform such operations.