What you need to know about the Bitcoin Cash ‘hard fork’

November 14, 2018

 

On Thursday, Bitcoin Cash, perhaps, the most famous hard fork of bitcoin and the fourth-largest cryptocurrency, will split in two, creating a second cryptocurrency.

The two digital currencies will go by the names Bitcoin ABC (core Bitcoin Cash) and Bitcoin SV (Satoshi’s Vision). A hard fork is when developers and miners no longer agree on a proposed change to the software, despite operating on the same blockchain. Once the fork takes place, one group of so-called nodes — computers that are connected to the network and are part of the transaction confirmation process — will upgrade to the new software and the other will operate on the old rules, creating two separate blockchains and digital currencies.

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About Bitcoin Cash: Bitcoin Cash brings sound money to the world, fulfilling the original promise of Bitcoin as "Peer-to-Peer Electronic Cash". Merchants and users are empowered with low fees and reliable confirmations. The future shines brightly with unrestricted growth, global adoption, permissionless innovation, and decentralized development. Bitcoin Cash is a peer-to-peer electronic cash system. It's a permissionless, decentralized cryptocurrency that requires no trusted third parties and no central bank. In 2017, the Bitcoin project and its community split in two. Perhaps the least controversial way to refer to each side is simply by their respective ticker symbols, BTC and BCH. Bitcoin Cash is usually represented by the BCH ticker symbol and is considered by its supporters to be the legitimate continuation of the Bitcoin project as peer-to-peer digital cash. With Bitcoin Cash, you can send money to anyone, anywhere in the world, 24 hours a day, 365 days a year. Like the Internet itself, the network is always on. No transaction is too big or too small. And you never need anyone’s permission or approval.

 

Bitcoin cash is the 4th largest cryptocurrency by market cap size with a current market cap of $9,100,074,159. It's up 2.56% over the past 24 hours and is currently trading at $521.28. Bitcoin cash has a circulating supply of 17,457,063 BCH. It can be bought with fiat dollars, debit, and credit cards at cryotocurrency exchanges such as Coinbase and Changelly.

 

Click here to open an account at Coinbase and get $10 worth of FREE Bitcoin Cash

 

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