Bitcoin Cash News: Know More About This Cryptocurrency – BCH
Bitcoin cash came into existence with the view of increasing bitcoin block size limit. Bitcoin Cash is a cryptocurrency and the supply limit as at the time of this publication is 21,000,000 BCH.
Bitcoin cash can simply be defined as a cryptocurrency created in August 2017, arising from a fork of Bitcoin Classic. Bitcoin Cash increases the size of blocks, allowing more transactions to be processed. Explaining further, Bitcoin Cash is another fork from Bitcoin Classic.
Following the Bitcoin cash news, Bitcoin Cash differs from Bitcoin Classic in that it increases the block size from 1 MB to 8 MB. It also removes Segregated Witness (SegWit), a proposed code adjustment designed to free up block space by removing certain parts of the transaction.
The goal of Bitcoin Cash is to increase the number of transactions that can be processed.
According to bitcoincash.org,
“Bitcoin Cash brings sound money to the world, fulfilling the original promise of Bitcoin as “Peer-to-Peer Electronic Cash”. Merchants and users are empowered with low fees and reliable confirmations. The future shines brightly with unrestricted growth, global adoption, permissionless innovation, and decentralized development.
All Bitcoin holders as of block 478558 are also owners of Bitcoin Cash. All are welcome to join the Bitcoin Cash community as we move forward in creating sound money accessible to the whole world.”
On Bitcoin cash news as at the time of this publication, Bitcoin Cash looks weak. However,notwithstanding the fact that it is close to the critical range of $777.5304 – $736.0137, the pullback on June 14th did not reach the downtrend line. This shows that the buyers are in no hurry to own the digital currency at these prices.
On the downside, any break below $736 levels can sink the BCH/USD pair to $620 level.
Also there is a new cryptocurrency known as Bitcoin core (BTCC) . BTCC is a new cryptocurrency which came about from a fork of bitcoin cash. Experts are of the opinion that the cryptocurrency came into existence with a view of trolling Bitcoin Cash.
It happened that after bitcoin cash’s November 2017 hard fork, which was executed to fix the cryptocurrency’s mining algorithm, a small group resisted, splitting the blockchain and creating a new project called “bitcoin clashic.” But because bitcoin clashic didn’t address the issue, it faded away after a few months.
Then another group of developers forked bitcoin clashic – fixing its issues but leaving the updates from bitcoin cash’s most recent hard fork – a couple weeks ago to create bitcoin core (BTCC) and this will be known to you if you have dept knowledge of Bitcoin cash news.
According to BTCC Twitter account:
“We are the cool cousin that’s a good wingman. Unlike the other one hating and trying to steal ur [sic] girl.”