Bitcoin Cash is a 1:1 distributed hard fork cryptocurrency that emerged from the Bitcoin blockchain on August 1, 2017. It was developed to solve the problems of increasing transaction fees and extending expected times in the Bitcoin network. A block size of 1 MB had become insufficient over the years. Updated block sizes to 8MB in BCH. Bitcoin Cash has set the same goals as Bitcoin as a roadmap for itself.
Bitcoin Cash is faster and more centralized than BTC. Being centralized goes against the nature of cryptocurrencies. While Bitcoin is used as a store of value, the name Bitcoin Cash is intended to be used as a global currency that allows to carry out large and small financial transactions.
Bitcoin Cash is the 21th highest cryptocurrency by market cap. While there are 18,883,631.25 BCHs in circulation, a total of 21,000,000 BCH will be reached.
Mining System
Miners are needed for the network to function normally. Mining is done with a proof-of-work system like Bitcoin. Mining is done with ASIC systems. Since the size of BCH blocks is 8 times larger than Bitcoin blocks, more energy is needed in Bitcoin Cash mining. Mining can be done through software such as EasyMiner, CGminer, BFGminer. 60 transactions per second can be processed on the Bitcoin Cash network. 20 transactions can be made in Ethereum, while this number is 7 in Bitcoin. In Bitcoin Cash, the internal mining pool develops more than half of the total transactions. This means that these three pools have a say in the network. That's why BCH is far from a decentralized cryptocurrency.
