What is bitcoin cash

1. bitcoin is a kind of virtual currency, which is characterized by decentralization, anonymity, and can only be used in the digital world. It does not belong to any country or financial institution, and is not subject to geographical restrictions. It can be exchanged in the world
reference link: http://wuhan.pbc.gov.cn/wuhan/2929354/3393665/index.html

2. Bitcoin is currently the most popular cryptocurrency in the world. From August 1, 2017, it was divided into two directions. In an event called "hard fork", a new digital currency called bitcoin cash was born. Due to version switching, bitcoin blockchain is forked into two independent blockchains. Everyone who owns bitcoin before the fork is entitled to the same amount of "bitcoin cash" tokens, similar to a dividend in a stock
bitcoin cash (BCC) is a new version of bitcoin with different configurations launched by a small number of bitcoin developers. It is a new type of blockchain asset. At 20:20 on August 1, 2017, bitcoin cash starts mining, and each bitcoin investor's account will have the same amount of bitcoin cash (BCC).

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The concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system

bitcoin (BTC) is the most popular digital currency in the world. The spread occurred on August 1, 2017. In a "hard fork" event, a new digital currency called bitcoin cash (BCH) was born

e to version switching, bitcoin blockchain is bifurcated into two independent blockchains. Everyone who owns bitcoin before the fork is entitled to the same amount of "bitcoin cash" tokens, similar to a dividend in a stock

bitcoin cash (BCH) is a new version of bitcoin with different configurations launched by a small number of bitcoin developers. It is a new type of blockchain asset. On August 1, 2017, the mining of bitcoin cash will begin, and each bitcoin investor will have the same amount of bitcoin cash (BCH) in his account

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currency features

Decentralization: bitcoin is the first distributed virtual currency, and the whole network is composed of users without a central bank. Decentralization is the guarantee of bitcoin's security and freedom

Global Circulation: bitcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can dig, buy, sell or collect bitcoin

exclusive ownership: private key is required to manipulate bitcoin, which can be stored in any storage medium in isolation. No one can get it except the user himself

low transaction cost: bitcoin can be remitted free of charge, but a transaction fee of about 1 bitfen will be charged for each transaction to ensure faster transaction execution

no hidden cost: as a means of payment from a to B, bitcoin has no cumbersome quota and proceres. If you know the other party's bitcoin address, you can pay

cross platform Mining: users can explore the computing power of different hardware on many platforms

reference source:

network bitcoin

4. Bitcoin cash is a new version of bitcoin with different configurations launched by a small number of bitcoin developers.

5. Bitcoin cash transaction is not congested, and the handling charge is lower

6. Bitcoin cash (BCC) is a new encrypted digital asset launched by viabtc based on bitcoin ABC scheme. It can be regarded as a bifurcated or competitive currency of bitcoin BTC.

7. Bitcoin (BTC) is the most popular digital currency in the world. The spread occurred on August 1, 2017. In a "hard fork" event, a new digital currency called bitcoin cash (BCH) was born. Due to version switching, bitcoin blockchain is forked into two independent blockchains. Everyone who owns bitcoin before the fork is entitled to the same amount of "bitcoin cash" tokens, similar to a dividend in a stock
bitcoin cash (BCH) is a new version of bitcoin with different configurations launched by a small number of bitcoin developers. It is a new type of blockchain asset. On August 1, 2017, the mining of bitcoin cash will begin, and each bitcoin investor will have the same amount of bitcoin cash (BCH) in his account
(1) the transmission mode of the two is the same
bitcoin cash and bitcoin are completely decentralized, and the central bank does not issue or need a third party to operate, but the electronic cash is transmitted through the Internet
the previous life of bitcoin cash is bitcoin. Before the bifurcation, the data stored in the blockchain and the running software are compatible with all bitcoin nodes. After the bifurcation, it has little association with bitcoin and becomes a new currency
(2) the block capacity of recording transaction information is different
the block capacity of bitcoin is 1MB, while the segwit of bitcoin cash is deleted, which cancels the limit of 1m block size, supports 8m block size at most, and adheres to the on chain expansion route. It is a blockchain asset generated by bitcoin ABC scheme, which has greater stability and security. It can also support more transactions in a specific time. The size of the first BCH block g up by bitcoin cash has exceeded 1MB
(3) the difficulty of the two algorithms is different
there are 21 million bitcoins at most. With more and more bitcoins being g and less and less remaining, the difficulty of the algorithm becomes more and more difficult. Bitcoin cash adopts the dynamic difficulty adjustment mode, and the proction difficulty will be adjusted with the computing power in the whole bitcoin cash network. The more nodes you join, the higher the difficulty, otherwise, the lower the difficulty. Because bitcoin cash takes a long time to get out of the block, bitcoin cash began to adjust the difficulty of mining on August 8, and improved the speed of getting out of the block
technically, both bitcoin cash and bitcoin's workload proof algorithms are sha256, but the difference is the difficulty adjustment mechanism. The measures taken in the original bitcoin chain are to adjust the mining difficulty once every 2106 blocks are excavated according to the computing power. In order to prevent the situation of insufficient computing power, bitcoin cash adopts the emergency difficulty adjustment mechanism (EDA), which automatically reces the difficulty by 25% if the number of blocks is less than 6 in the last 12 hours
from the point of calculation power allocation: when BTC and BCH use sha256 algorithm together, miners can decide which kind of mine to dig according to the mining income. In the past three months, whenever the difficulty of BCH is reced and the mining income is greater than BTC, the computing power will flow into the BCH chain, which seriously affects the block speed of the two chains
problems faced by bitcoin cash
BCH has been controversial since its birth. The dispute between BCH and BTC, and the contradiction between miners and core may continue. This is caused by the defects in the design at that time. It is a "congenital disease" and the irreconcilable contradiction after birth, which leads to today's inseparable situation. And with the rising price of BCH, this contradiction may be further intensified.

8. Bitcoin cash mining is the same as bitcoin mining, and both use the same computing power. You can use a miner to dig

9. It's mainly about interests. There are mainly the following types of people who oppose BCH:
1. They hype themselves and pave the way for their bifurcating bitcoin. For example, Liao Xiang, who once strongly opposed big blocks, paid big money, and they all bifurcated bitcoin
2. Misled by the core development team, the melon eaters regard the miners as a group of criminals
3. The core development group's opposition to BCH is not only a divergence of development roadmap, but also a dispute of interests. The lightning network promoted by the core development group can make the gold owners behind it profit through the lightning network.