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Bitcoin Cash Price – BCH/USD
Bitcoin Cash (BCH) is one of the hard forks of original Bitcoin that was created in August 2017 in order to put an end to the scaling debate which was going on for a couple of years.
Bitcoin (BTC) and Bitcoin Cash (BTH) are very similar with regards to construct, design and roadmap, so much so that BCH shares the entire blockchain history prior to August 1st with BTC.
While BTC’s first focus is to keep Bitcoin decentralized so that it can remain public, permissionless and highly censor-resistant network, BCH’s priorities are to enable fast, cheap payments over the network. That’s the reason why BCH forked from BTC and increased the block size to 8MB from 1MB to accommodate faster and cheap transactions.
That being said, BTC camp also wants the transactions to be cheap and fast, but not at the risk of its decentralization.
This is how Bitcoin Cash describes itself: “Bitcoin Cash is peer-to-peer electronic cash for the Internet. It is fully decentralized, with no central bank and requires no trusted third parties to operate.”
Both the cryptocurrencies work more or less the same way except, BCH:
- has a blocksize of 8MB
- does not have SegWit
- does not have “replace by fee” feature
- has replay and wipeout protection.
- offers a way to adjust the proof-of-work difficulty quicker as compared to Bitcoin
Since BCH is the hardfork of Bitcoin, anyone who held BTC prior to the fork got an equal amount of BCH coins provided they didn’t have their BTC in exchanges and were in possession of their private keys at the time of the hardfork.
Although, some exchanges like Poloniex and Bittrex allotted an equal amount of BCH to all the users who kept BTC in the exchange. Coinbase, on the other hand, will let users withdraw BCH on January 1, 2018.
Soon after the fork hardly any exchange enabled BCH for trading. HitBTC was the only exchange that was allowing deposits within a reasonable timeframe. As of now, in the middle of November 2017, BCH can be bought at major cryptocurrency exchanges. Bithumb, HitBTC, Bitfinex, Coinone, Korbit, and Bittrex are to name a few.