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Bitcoin Cash Review

Margo

Margo

Moderator
Moderator
Jun 15, 2018
176
5
18
Points
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#1
Bitcoin Cash was created on August 1, 2017 as a result of Bitcoin's hard-fork. The cryptocurrency was developed as an alternative to Bitcoin on its blockchain and therefore it contains certain modifications in transactions and the structure of the block. Bitcoin Cash developers’ team managed to eliminate BTC shortcomings: the increased block size, a new principle for changing complexity, additional transaction protection mechanisms. The currency has quickly taken its place in the top of the market leaders, its capitalization exceeds 30 billion USD.

The new currency works on a protocol similar to Bitcoin:
  • SHA-256 cash estimation algorithm;
  • Proof of Work consensus and the same system of rewards;
  • The same issue limit (21 million coins).

Main differences Bitcoin Cash from Bitcoin :
  • 8 times bigger the block size, up to 8 megabytes;
  • The difficulty adjusts every 6 blocks (in Bitcoin — every 2016 blocks)

The two currencies based on the same blockchain.
 
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