Buy Bitcoin Cash (BCH)

What is Bitcoin Cash?

Bitcoin Cash (BCH) is a cryptocurrency that emerged in August 2017 via a hard fork of Bitcoin. The fork resulted from debates about how to scale Bitcoin for increasing transaction volumes, leading advocates like Haipo Yang and Roger Ver to push for larger block sizes—initially 1 MB to 8 MB, and later up to 32 MB—to enable faster transaction throughput and lower fees. This approach aims to establish BCH as a peer-to-peer electronic cash system, emphasizing speed and affordability over Bitcoin’s more conservative scaling strategy.

How does Bitcoin Cash work?

Bitcoin Cash uses a Proof-of-Work (PoW) blockchain with the SHA-256 hashing algorithm (like Bitcoin), but it supports blocks of up to 32 MB, allowing more transactions per block at reduced fees. In addition to straightforward payments, BCH supports smart contracts through the Simple Ledger Protocol (SLP), enabling custom tokens and on-chain applications. It also uses the Adaptive Block Limit Algorithm (ABLA) to dynamically adjust block sizes, maintaining efficiency even as the network grows.

What are the potential use cases for Bitcoin Cash?

Thanks to its quick transaction speeds and low fees, Bitcoin Cash is an attractive option for a variety of real-world scenarios:

• Online and In-Store Payments: Merchants such as TravelbyBit and BitPay accept BCH, while many businesses in Japan and Australia integrate it for fast, low-cost sales.
• Charitable Efforts: Organizations like EatBCH in Venezuela use BCH for grassroots fundraising and food distribution.
• Tokenization and DeFi: Through SLP, BCH enables token creation, asset management, and potential DeFi applications.
• Micropayments and Tipping: Low fees allow practical uses like tipping on social media and IoT integrations.
• Privacy-Enhanced Transactions: Tools such as CashFusion increase anonymity for users who need enhanced privacy.

What is the history of Bitcoin Cash?

Bitcoin Cash debuted at Bitcoin block height 478,558 in August 2017. Beyond the initial block size upgrades, key milestones include:

• Launch of the Simple Ledger Protocol (SLP) for token creation.
• Introduction of CashFusion to enhance transaction privacy.
• A chain split in November 2020 that produced Bitcoin Cash Node (BCHN) and Bitcoin Cash ABC (BCHA), with BCHN gaining the most community and miner support.

BCH reached over $4,000 USD in December 2017 at its price peak. The network continues to evolve by refining its smart contract capabilities and improving scalability, striving to be a widely accepted, global electronic cash solution—evidenced by merchant adoption and its use in regions with high inflation, such as Venezuela.