Hold onto your digital wallets, Busha Tribers! Busha is ecstatic to welcome Bitcoin Cash (BCH) into our vibrant crypto community. Beyond being a mere fork, BCH is a powerhouse of innovation, offering a peer-to-peer electronic cash system redefining the very nature of money.
What is Bitcoin Cash Used For?
Bitcoin Cash is a versatile crypto that serves as both a long-term store of value and a highly effective medium of exchange. Let’s explore its two primary use cases:
- Long-Term Store of Value: With a fixed supply and gradual decrease in issuance, Bitcoin Cash becomes a ‘disinflationary’ asset. The protocol’s ‘set-in-stone’ supply schedule makes it a unique and secure option for storing value in the digital realm.
- Highly Effective Medium of Exchange: Bitcoin Cash facilitates peer-to-peer payments with low fees and near-instant settlement. It’s perfect for remittances, cross-border trade, and everyday grocery transactions. Microtransactions, such as tipping content creators, are a breeze with BCH.
What Sets Bitcoin Cash Apart from Bitcoin?
Bitcoin Cash emerged as a ‘fork’ of Bitcoin in 2017, born out of a desire to enhance scalability and transaction speed. Since then, it has introduced several innovations that differentiate it from Bitcoin:
- Maximum Block Size: Bitcoin Cash boasts a larger maximum block size (32MB), enabling faster transactions at lower costs compared to Bitcoin.
- Smart Contract Support: BCH supports smart contracts using languages like Cashscript, paving the way for decentralized finance applications.
- No ‘Replace-by-Fee’: Bitcoin Cash lacks the ‘replace-by-fee’ feature, making transactions more secure and irreversible.
- Schnorr Signatures: Although not widely adopted yet, Schnorr signatures have the potential to enhance privacy and reduce transaction costs.
- Difficulty Adjustment Algorithm: Bitcoin Cash utilizes the aserti3-2d algorithm, ensuring stable block generation even amidst price volatility and hash power fluctuations.
What’s the Difference Between Bitcoin and Bitcoin Cash?
Bitcoin Cash is a dynamic evolution of Bitcoin, driven by the need for scalability and lower transaction fees. With innovations like a larger block size, smart contract support, and no ‘replace-by-fee,’ Bitcoin Cash is not just a fork – it’s a forward-thinking cryptocurrency at the forefront of the digital revolution.
Ready to dive into the world of Bitcoin Cash ($BCH) and make it a star in your crypto portfolio? Look no further – Busha has your back with our seamless platform. As a non-custodial exchange, we hand you the keys to control and own your crypto assets. Curious about the first steps? Let our guides lead you through setting up your crypto wallet and securing top-notch rates for $BCH on Busha.
Here’s where to get all the information on BCH: