Bitcoin Cash Price BCH

Bitcoin Cash is a hard fork of Bitcoin with a protocol upgrade to fix on-chain capacity. Bitcoin Cash intends to be a Bitcoin without Segregated Witness (SegWit) as soft fork, where upgrades of the protocol are done mainly through hard forks and without changing the original economic rules of the Bitcoin.

Bitcoin Cash (BCH) is released on 1st August 2017 as an upgraded version of the original Bitcoin Core software. The main upgrade is the increase in the block size limit from 1MB to 8MB. This effectively allows miners on the BCH chain to process up to 8 times more payments per second in comparison to Bitcoin. This makes for faster, cheaper transactions and a much smoother user experience.

Why was Bitcoin Cash Created?

The main objective of Bitcoin Cash is to to bring back the essential qualities of money inherent in the original Bitcoin software. Over the years, these qualities were filtered out of Bitcoin Core and progress was stifled by various people, organizations, and companies involved in Bitcoin protocol development. The result is that Bitcoin Core is currently unusable as money due to increasingly high fees per transactions and transfer times taking hours to complete. This is all because of the 1MB limitation of Bitcoin Core’s block size, causing it unable to accommodate to large number of transactions.

Essentially Bitcoin Cash is a community-activated upgrade (otherwise known as a hard fork) of Bitcoin that increased the block size to 8MB, solving the scaling issues that plague Bitcoin Core today.

Nov 16th 2018: A hashwar resulted in a split between Bitcoin SV and Bitcoin ABC

Categories: Smart Contract Platform · Layer 1 (L1) · Bitcoin Fork · Proof of Work (PoW) · Coinbase 50 Index

Bitcoin Cash (BCH) is a cryptocurrency that emerged from a hard fork of the original Bitcoin blockchain in August 2017. The fork was primarily driven by disagreements within the Bitcoin community regarding scalability solutions.

The project aims to be a peer-to-peer electronic cash system that can be used for everyday transactions, with a focus on faster transaction times and lower fees compared to Bitcoin. It maintains many of Bitcoin's original features but with some key technical differences.

Bitcoin Cash's price is influenced by its adoption as a payment system, with merchant and service provider acceptance being a key factor. The more businesses that accept BCH, the more utility it has.

As a fork of Bitcoin, it is also affected by the overall cryptocurrency market conditions and Bitcoin's performance. Positive sentiment in the crypto market tends to lift all boats, including BCH.

The coin's supply schedule is similar to Bitcoin's, with a maximum supply capped at 21 million coins. This scarcity is a fundamental factor that can influence its price.

Technological developments, such as improvements in transaction speed and security, also play a role in its market performance. Additionally, regulatory changes affecting cryptocurrencies in major markets can impact BCH's price.

Bitcoin Cash has a circulating supply of 20,098,594 BCH out of a maximum of 21,000,000 BCH, and a total supply of 20,098,866 BCH. Its fully diluted valuation is $6.38B.

You can buy Bitcoin Cash (BCH) on major exchanges such as Binance, Coinbase, Kraken, Bybit and OKX. In Nigeria, BCH is also available via local exchanges and P2P — see our BCH in naira page. Always compare fees and use reputable platforms.