WHAT IS BITCOIN CASH

Bitcoin cash is a peer to peer electronic cash .It is fork version of bitcoin. It is fully decentralized as there is no third party requirement for transaction. It Brings sound money to the world as its fulfilling the promise of Bitcoin. Bitcoin Cash is resistant to political and social attacks on protocol development. No single group or project can control it. It is Same as Bitcoin but Bcc aims to solve the scaling issue by increasing the block size. The Goal of BCC is to increase the number of transactions to be processed.

HISTORY OF BITCOIN CASH

On July 20, 2017,97% of Bitcoin Minor voted for making Improvement on Bitcoin. The Some members of the bitcoin community felt that adopting BIP 91 without increasing the block-size limit will delay the issue. So They announced implementation of Bitcoin Cash as a hard fork on August 1,2017 . It inherited the properties of the bitcoin currency but having its own properties . It implements a block size increase to 8 MB. Bitcoin Cash brings sound money to the world, fulfilling the original promise of Bitcoin as "Peer-to-Peer Electronic Cash". Merchants and users are empowered with low fees and reliable confirmations. The future shines brightly with unrestricted growth, global adoption, permissionless innovation, and decentralized development.

FEATURES OF BITCOIN CASH

Transaction Signatures:

A new SigHash type provides replay protection and improved hardware wallet security and elimination of the problem of bitcoin transaction system.

On Chain Scalability:

Bitcoin Cash follows global adoption with on-chain scaling. The blocksize limit has been made adjustable, with an increased default of 8MB

Transparency:

All Bitcoin transactions are public and transparent to all users. The Block chain stores all transaction details. Where user can any time verify.

Difficulty Adjustment Algorithm:

Responsive Proof-of-Work difficulty adjustment allows miners to migrate from the Bitcoin chain as desired, providing protection against hash rate fluctuations.

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STEP 1

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STEP 2

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STEP 3

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STEP 4

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