Bitcoin Cash
Bitcoin Cash (BCH) is the upgraded version of Bitcoin, which dates back to the Genesis Block in 2009, sharing the same blockchain from day one. Bitcoin Cash addresses all the scalability issues that Bitcoin (BTC) has. Bitcoin Cash (BCH) continues on with the original idea of a peer-to-peer digital cash system that is decentralized and does not rely on third-parties. It aims to become sound global money with fast and secure payments, micro-fees, privacy layers, high transaction capacity, bigger blocks, while still keeping the original attributes of Bitcoin like a 21 million coin supply limit and proof-of-work.[1]
Benefits[edit]
- Low fees making it affordable worldwide
- Fast and borderless transactions
- Onchain scaling with an adaptive block size limit
- Decentralized development and is open source
- Smart contracts, DeFi, and CashTokens
- Peer-to-peer protocol with no custodians needed
- Secure transaction layer with zero confirmations
- Immutable transactions that cannot be reversed
- Transactions that are censorship resistant
- Limited supply of only 21 million coins
Syntax[edit]
Bitcoin Cash (BCH) addresses should include the "bitcoincash:" prefix before the address to avoid mistakes, although it's not required. BCH addresses start with the letter 'q' and are called a "Cash Address (CashAddr)". Cash Addresses are compatible with legacy bitcoin addresses, which work but not recommended to avoid mistakes.
Here are two examples:
bitcoincash:qpgvuuwh9jjak2nrjwg53kq5hllvewk88cnyl0q5kd (Cash Address) 18NGNNkGbJ7BtTP7Ari6cB7G9UCEXk2s9E (Legacy Address)