Smart Contract Platform, Layer 1 (L1)
About Bitcoin Cash
Bitcoin Cash (BCH) is a cryptocurrency that was created in August 2017 as a hard fork of the original Bitcoin (BTC).
It was created to increase the block size limit of Bitcoin from 1MB to 8MB, allowing for faster transaction times and lower fees. The main purpose of Bitcoin Cash is to provide an alternative to Bitcoin that is more suitable for everyday transactions. Bitcoin Cash has its own blockchain, meaning it is not dependent on the original Bitcoin blockchain.
This allows it to have its own set of rules and regulations, which are different from those of Bitcoin. For example, Bitcoin Cash has a larger block size limit than Bitcoin, allowing for faster transaction times and lower fees. Additionally, it has implemented replay protection and a new difficulty adjustment algorithm called Emergency Difficulty Adjustment (EDA).
The main difference between Bitcoin and Bitcoin Cash is the block size limit. As mentioned above, the block size limit of Bitcoin is 1MB while that of Bitcoin Cash is 8MB. This means that more transactions can be processed in each block on the Bitcoin Cash blockchain than on the original Bitcoin blockchain.
This allows for faster transaction times and lower fees when using BCH compared to BTC. Additionally, because BCH has its own blockchain, it can implement different rules and regulations than those found on the original BTC blockchain. Overall, Bitcoin Cash is an alternative cryptocurrency that was created as a hard fork of the original BTC blockchain in order to provide users with faster transaction times and lower fees when making everyday payments.
It has its own set of rules and regulations which are different from those found on the original BTC blockchain, such as a larger block size limit and replay protection.