Bitcoin Cash

1. What is Bitcoin Cash (BCH)?

• Bitcoin Cash (BCH) was created through a hard fork from Bitcoin in 2017, aimed at enhancing scalability by expanding the block size from 1MB to 8MB.

• It aims to process more transactions at a faster rate and with lower fees, positioning itself as an efficient electronic cash system.

2. Tokenomics

• Bitcoin Cash shares Bitcoin’s supply limit, establishing a cap to prevent inflation and ensure a finite supply.

• BCH is mined similarly to Bitcoin, with a decreasing supply growth rate and mining rewards halving approximately every four years.

3. Market Data

As of today 17 November 2024, the price of Bitcoin Cash is ₹39,110.37 INR, with a 24-hour trading volume of 1119827843.69 USD. The market capitalisation for Bitcoin Cash is 8910177634.63USD. The circulating supply is 19789440.63 Bitcoin Cash, with the total supply also being 19789440.63 Bitcoin Cash.

4. Token Pros and Cons

Pros:

• Bitcoin Cash offers faster transaction speeds and lower fees thanks to its larger block size.

• It maintains a decentralised currency system, which reduces reliance on centralised financial institutions.

• The cryptocurrency addresses scalability efficiently by having the capability to handle more transactions.

Cons:

• Bitcoin Cash potentially has weaker security because it requires less mining power to verify new blocks.

• There are environmental concerns associated with Bitcoin Cash due to its proof-of-work system, which consumes a significant amount of energy.

• Bitcoin Cash faces challenges in gaining the same level of acceptance and recognition as Bitcoin.

5. Why Should You Invest in the Coin?

• Bitcoin Cash could be a viable investment for its scalability and efficiency as a digital cash system, with lower fees and quicker transactions.

• Investment decisions should consider the coin’s specific advantages and disadvantages, along with market volatility.

6. USP of the Coin

• The unique selling proposition of Bitcoin Cash is its focus on being a scalable, efficient electronic cash system, offering faster transactions and lower fees than Bitcoin.

Problem the Coin is Solving

• BCH aims to solve Bitcoin’s scalability and high transaction fee issues by increasing block size, allowing for the simultaneous processing of more transactions, thus reducing fees and times.

Founder and Team Background

• Created by developers and miners from the Bitcoin community who advocated for larger block sizes to address scalability, BCH’s team comprises diverse, prominent figures in the cryptocurrency space.

9. ICO Price

• Bitcoin Cash did not undergo an ICO but was distributed to Bitcoin holders at a 1:1 ratio during its creation through a hard fork.

10. Risks Associated in Investing in the Coin

• Investing in BCH involves risks like market volatility, security vulnerabilities in exchanges and wallets, potential regulatory changes affecting its value and legality, and challenges in adoption and competition with other cryptocurrencies.

11. Whitepaper Insights

The Bitcoin Cash whitepaper presents a comprehensive solution to the scalability challenges faced by the original Bitcoin network. It begins by revisiting the fundamental purpose of Bitcoin, as outlined by Satoshi Nakamoto: to create a decentralised peer-to-peer electronic cash system that is both efficient and widely accessible. The whitepaper identifies the main bottleneck in Bitcoin's scalability as the 1MB limit on block size, which restricts the number of transactions that can be processed per block, leading to increased fees and longer confirmation times during periods of high demand.

To address these issues, Bitcoin Cash proposes a significant increase in block size to 8MB, which would allow a greater number of transactions to be included in each block. This change aims to reduce transaction fees and improve processing times, making Bitcoin Cash a more practical choice for everyday transactions and microtransactions. The whitepaper argues that this approach will maintain the original vision of a decentralised electronic cash system while enhancing its functionality and user experience.

The document also delves into the technical details of the hard fork from Bitcoin, explaining the necessary consensus changes and the mechanisms that would allow Bitcoin Cash to operate alongside Bitcoin while sharing a common transaction history up to the point of the fork. It emphasises the importance of maintaining the core principles of decentralisation and user empowerment, ensuring that Bitcoin Cash remains true to the ethos of the cryptocurrency movement.

Furthermore, the whitepaper outlines a roadmap for future development, which includes potential further increases in block size and other optimisations to ensure that Bitcoin Cash can scale effectively as demand grows. The overarching goal is to provide a stable, secure, and scalable digital currency that can serve as a viable alternative to traditional fiat currencies for consumers and businesses around the globe.