Bitcoin Cash (BCC)/BCH is a hard forked version of the original Bitcoin. It is similar to bitcoin with regards to its protocol; Proof of Work SHA-256 hashing, 21,000,000 supply, same block times and reward system. However, two main differences are the block size limits, as of August 2017 Bitcoin has a 1MB block size limit whereas (BCC)/BCH proposes 8MB blocks. Also, (BCC)/BCH will adjust the difficulty every 6 blocks as opposed to 2016 blocks as with Bitcoin.
Bitcoin Cash is a proposal from the via BTC mining pool and the Bitmain mining group to carry out a UAHF (User Activated Hard Fork) on August 1st 12:20 pm UTC. They rejected the agreed consensus (aka BIP-91 or SegWit2x) and have decided to fork the original Bitcoin blockchain and create this new version called “Bitcoin Cash”. Bitcoin Cash can be claimed by BTC owners who have their private keys or store their Bitcoins on a service that will split (BCC)/BCH for the customer.
FAQ About Bitcoin Cash (BCH)
What Is Bitcoin Cash (BCH)?
Bitcoin Cash (BCH) is a cryptocurrency that emerged as a result of a hard fork from the original Bitcoin (BTC) blockchain in August 2017.
How to Buy Bitcoin Cash (BCH)?
You can buy Bitcoin Cash (BCH) here on Toobit with Credit/ Debit card or USDT. Read our guide on How to Buy Crypto on Toobit for more information.
Where to Sell Bitcoin Cash (BCH)?
You can sell Bitcoin Cash (BCH) here on Toobit for USDT. Read our guide on How to Trade Spot on Toobit for more information.
