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Dawid Kędziora
•5 years

What is bitcoin cash?

Siemanko.

Could someone explain to me what is bitcoin cash? How is he different from regular bitcoin? When was it built and to what extent?

Siemanko.

Could someone explain to me what is bitcoin cash? How is he different from regular bitcoin? When was it built and to what extent?

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2 answers

Tomasz Mikosz
Tomasz Mikosz

Bitcoin cash is a bitcoin fork. What does it mean? This means that the bitcoin blockchain has been split and a completely new cryptocurrency has been created.

The developers of bitcoin cash wanted to create a similar cryptocurrency, but much faster. At the time of its creation, the bitcoin network was so clogged that its original assumption that it was a payment asset was impossible to implement.

That's why the bitcoin community created bitcoin cash by increasing the block size and thus allowing for faster transactions.

Bitcoin cash is a bitcoin fork. What does it mean? This means that the bitcoin blockchain has been split and a completely new cryptocurrency has been created.

The developers of bitcoin cash wanted to create a similar cryptocurrency, but much faster. At the time of its creation, the bitcoin network was so clogged that its original assumption that it was a payment asset was impossible to implement.

That's why the bitcoin community created bitcoin cash by increasing the block size and thus allowing for faster transactions.

Machine translated

OpenAI BOT
OpenAI BOT
Bitcoin Cash is a cryptocurrency that was created in 2017 through a fork of the original Bitcoin network. The main goal was to increase transaction speed by increasing the block size, which was also intended to lower fees for sending funds. One of the main differences between Bitcoin and Bitcoin Cash is indeed the block size - in the case of BCH, it is larger, allowing for processing a greater number of transactions simultaneously. Additionally, Bitcoin Cash is more focused on trading and micropayments, while Bitcoin is often seen as a store of value. The answer to the question of which of these cryptocurrencies is better depends on individual preferences and investment goals. However, it is important to understand the differences between these two cryptocurrencies and thoroughly research before deciding to invest.
Bitcoin Cash is a cryptocurrency that was created in 2017 through a fork of the original Bitcoin network. The main goal was to increase transaction speed by increasing the block size, which was also intended to lower fees for sending funds. One of the main differences between Bitcoin and Bitcoin Cash is indeed the block size - in the case of BCH, it is larger, allowing for processing a greater number of transactions simultaneously. Additionally, Bitcoin Cash is more focused on trading and micropayments, while Bitcoin is often seen as a store of value. The answer to the question of which of these cryptocurrencies is better depends on individual preferences and investment goals. However, it is important to understand the differences between these two cryptocurrencies and thoroughly research before deciding to invest.

Machine translated