A Beginner’s Guide To What is Bitcoin Cash?

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What is Cash?

Cash is a digital currency forked from the network in late 2017 with the goal to be the real implementation of Satoshi’s original white paper. It is intended to be the real “Peer to peer electronic cash” as described by Satoshi Nakamoto.

How does it work?

Bitcoin Cash works almost exactly like Bitcoin since it’s based on the original Bitcoin core software. The main difference is the block size limit. Bitcoin Cash changes the block limit size with the goal of lowering transaction fees.

What are the features of Bitcoin Cash?

Fast Transaction Time With large blocks, the Bitcoin Cash network can afford to validate many transactions in a relatively short period of time compared to the original Bitcoin core implementation. Low transaction fees big blocks prevent large transaction pools from building up. With no congestion in the pools, fees are low to validate these transactions from the miner’s perspective. Soft fork a change to the Bitcoin Cash protocol that makes old blocks invalid which was valid in the past.

Bitcoin cash

Bitcoin Segwit transactions feature was implemented as a soft fork to the network. Hard Fork Change to the Bitcoin Cash protocol that makes previously invalid blocks or transactions valid. The BerkeleyDB bug activated an accidental hard fork to the Bitcoin network in 2013.

There are many wallets that support bitcoin cash. Each type of wallet has its own characteristics and is different in terms of usability and security. For example, there are mobile wallets, software wallets, and hardware wallets.
Send and receive Bitcoin anywhere in the world without fees, questions, or delays. Bitcoin Cash transactions cost less than a cent to send, so you can make cross-border payments for next to nothing.

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Approximately $140B worth of Bitcoin lost or inaccessible to owners

The entire transaction history of any particular cryptocurrency is stored on the blockchain. With a wallet, you can prove that you are the owner of your coins. Your wallet holds the private keys that grant you access to your coins. You could compare your wallet to a keychain. The coins themselves aren’t stored in your wallet, they are stored on the blockchain. You use your wallet to manage the coins and send or receive them.

Reference

Bitcoin Cash Wallet (BCH) | BCH Wallet | Trust Wallet 

Bitcoin Wallet | Store Bitcoin Cash (BCH) & Bitcoin (BTC) 

Bitcoin cash wallet 

 

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