It empowers you to engage with your fellow human beings without intrusion. As usage grows, old power structures will erode while fresh ideas blossom. It may help usher in the greatest peaceful revolution the world has ever known. The network fee for a typical Bitcoin Cash transaction is less than one penny. If you want to convert your BCH into fiat currency, such as US dollars, you can do that through merchant processors for a cost that is still much lower than credit card processing.
Unlike credit cards, there are never any automatic voids, refunds, chargebacks, or other unexpected fees. Fraud protection is built into the system with no cost to the merchant. A growing number of patrons are choosing Bitcoin Cash as a preferred payment method. They favor merchants who offer this payment option and actively seek them out. By accepting Bitcoin Cash, merchants can gain free listings in website and app directories, gaining even more customers.
They can also take advantage of this new trend and generate press for their business. In , he released the first bitcoin software that powered the network, and it operated smoothly for several years with low fees, and fast, reliable transactions. Unfortunately, from to , Bitcoin became increasingly unreliable and expensive. This was because the community could not reach consensus on increasing the network capacity.
Instead, they preferred Bitcoin become a settlement layer. Fortunately, a large portion of the Bitcoin community, including developers, investors, users, and businesses, still believed in the original vision of Bitcoin -- a low fee, peer to peer electronic cash system that could be used by all the people of the world.
On August 1st, , we took the logical step of increasing the maximum block size, and Bitcoin Cash was born. The network now supports up to 32MB blocks with ongoing research to allow massive future increases. With multiple independent teams of developers providing software implementations, the future is secure. Bitcoin Cash is resistant to political and social attacks on protocol development. No single group or project can control it.
The bitcoincashresearch. For those wishing to implement changes to the Bitcoin Cash protocol, it is recommended to seek early peer-review and engage collaboratively with other developers. Peer-to-Peer Electronic Cash. Fast Transact in seconds. Get confirmed in minutes. Reliable A network that runs without congestion. Low Fees Send money globally for pennies. Simple Easy to use. Since the fees and transaction times are so low, Bitcoin Cash is also effective for micro-transaction use cases like tipping content creators and rewarding app users.
Economic freedom is the ability for individuals to freely acquire and use personal resources however they choose, both independently and in cooperation with others. It is a vital component of human dignity and a fundamental human right. Money - as a vehicle that can be used for both storing and exchanging value - is a central tool for enabling economic freedom. Bitcoin Cash provides, on an opt-in basis, an alternative form of money that supports economic freedom. Unlike national currencies, Bitcoin Cash integrates strong protection against 1 monetary confiscation, 2 censorship, and 3 devaluation through uncapped inflation.
It was created on August 1 after participants in the Bitcoin ecosystem were unable to agree on methods for scaling the cryptocurrency. Since transactions consist of data, a larger block size enables more transactions to be included in each block, resulting in a higher throughput. The Bitcoin protocol had for years limited the size of each block to 1MB. As the number of Bitcoin users grew, competition for the limited block size gradually led to higher transaction fees and prolonged settlement times.
Bitcoin is not a static protocol. In other words, people decide what Bitcoin is. Faced with the challenge of scaling Bitcoin, one side felt the need to maintain 1MB block sizes. The other side wanted to increase the block size, allowing for more transactions per block. This instant upgrade was seen as a simple method to keep transactions fast and reliable, and fees low.
Read more: What is Bitcoin? Since forking in , the multiple independent teams of developers working on the Bitcoin Cash protocol have brought a number of innovations aimed at improving the usability of Bitcoin Cash as a peer-to-peer electronic cash system that supports economic freedom. These innovations, which set Bitcoin Cash apart from Bitcoin, are summarized below:. The larger block size increases the volume of transactions that the Bitcoin Cash network can process on chain.
While Bitcoin typically processes between transactions per second, Bitcoin Cash has the capacity to process as many as transactions per second. This helps to reduce the cost per transaction and increase transaction speed and reliability. Bitcoin Cash transactions typically cost less than a penny.
Bitcoin Cash developers can use smart contract languages like Cashscript to enable more complex functions than the basic transactions that are possible on Bitcoin. Other use cases include private payments with tools such as CashShuffle and CashFusion.
Using the Simple Ledger Protocol , developers can issue new tokens that live on the Bitcoin Cash blockchain similar to how ERC tokens live on the Ethereum blockchain. This enables people to send and receive USDT for pennies per transaction using a non-custodial digital wallet like the Bitcoin. The key feature of NFTs is that they are digital tokens which are distinguishable from each other. This enables a wide range of potential use cases, from digital artwork marketplaces to tradeable in-game items.
The lack of replace-by-fee in the Bitcoin Cash BCH protocol makes Bitcoin Cash more secure, as unconfirmed transactions are irreversible. It also enables near-instant transactions of small amounts. With the May Bitcoin Cash protocol upgrade, the unconfirmed chained transaction limit which was previously set at 50 was removed and double-spend tests were introduced. This is a digital signature scheme that allows for more complex signing capabilities. Transactions that adopt Schnorr signatures consume less space, making them less expensive.
Although currently supported by the Bitcoin Cash protocol, Schnorr signatures have yet to be widely adopted by wallet providers. Bitcoin Cash deploys an exponential moving target difficulty adjustment algorithm called asertid. For every two days that blocks are behind schedule, the difficulty is cut in half, while for every two days blocks are ahead of schedule, the difficulty doubles.
This difficulty adjustment algorithm helps to ensure new blocks are generated at a stable rate every 10 minutes even if there is high price volatility and hash power elasticity. Read more: How to use Bitcoin Cash. Visit Bitcoin Cash Projects to browse through the full list of projects and applications.
Choose from Bitcoin, Bitcoin Cash, Ethereum, and more. More getting started articles. What is Bitcoin? How to use bitcoin cash. How to buy bitcoin cash? How to sell bitcoin cash? How do I send bitcoin cash? How do I receive bitcoin cash? From creating a Bitcoin Cash wallet to sending, receiving, spending and more: This is your complete guide for how to use Bitcoin Cash.
From exchange services to peer-to-peer platforms, this is your comprehensive guide to selling bitcoin cash into local currency. Learn how to securely send bitcoin cash. Learn how to securely receive bitcoin cash. Everything you need to buy, sell, trade, and invest your Bitcoin and cryptocurrency securely.