Charts price for Bitcoin Cash / BCC (BCH)

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Description of Bitcoin Cash / BCC (BCH)

Bitcoin Cash Origin

Release Date: August 1, 2017

Bitcoin Cash appeared as a result of a bitcoin Blockchain fork. The reason for the creation of BCH was to improve the transaction speed of the classical bitcoin. Currently, the bitcoin Blockchain block size is not greater than 1 mb. Which is quite low even by todays nascent standards.

Bitcoin Cash or as Roger Ver, angel investor and die hard cryptoenthusiast calls it, Bitcoin, came into the market during times when Bitcoin was seeing increased popularity and it became painstakingly obvious that pending transaction times were no longer competitively advantage in terms of other anonymous digital asset transactional solutions.

Bitcoin Cash Functionality

The Bitcoin cash signature hashing algorithm is different from the original bitcoin legacy network one. This is done in order to ensure that double spending transactions are not an issue on the bitcoin Blockchain.

The primary purpose of Bitcoin Cash was to enable fast and cheap payments. The second primary purpose was to retain bitcoins image as a public, trustless, and censor resistant distributed database.

There was quite a strange situation involving Coinbase and Bitcoin Cash. Initially, the cryptocurrency exchange declared that they’ve not the intent to support Bitcoin Cash. What’s also interesting is that Bitmain, Chinas biggest producer of mining equipment publicly declared that they will only be supporting Bitcoin Cash in terms of the purchase of their equipment.