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What is BCH coin? Introduction to BCH coin issue price, total amount and white paper
BCH (Bitcoin Cash) emerged in 2017 as a hard fork of the Bitcoin blockchain, addressing scalability issues by increasing the block size limit to enhance transaction capacity.
Oct 15, 2024 at 07:29 am
What is BCH Coin?
1. Overview of BCH Coin
Bitcoin Cash (BCH) is a cryptocurrency created in 2017 as a hard fork of the Bitcoin (BTC) blockchain. It was originally designed to address scalability issues with Bitcoin by increasing the block size, allowing for more transactions to be processed per block.
2. Issue Price and Total Supply
- Issue Price: The initial offering price of BCH was $393.70 per coin.
- Total Supply: The maximum supply of BCH is capped at 21 million coins, similar to Bitcoin.
3. White Paper
The Bitcoin Cash white paper was published on August 1, 2017, outlining the technical specifications and rationale behind the project. Key highlights include:
- Increased Block Size: BCH increased the block size to 8MB, allowing for more transactions to fit in each block.
- Adjustable Difficulty: The difficulty of mining BCH blocks adjusts every six blocks to ensure a predictable block time of 10 minutes.
- Privacy Enhancements: BCH supports Confidential Transactions (CT), which allow users to hide transaction details from the public ledger.
4. Key Supporters and Developers
- Roger Ver: A prominent Bitcoin early adopter and advocate who became a strong supporter of BCH.
- Amaury Séchet: The lead developer of Bitcoin ABC, a software implementation of BCH.
- Jihan Wu: A co-founder of Bitmain, one of the largest cryptocurrency mining companies.
5. Purpose and Use Cases
BCH is intended to be a fast, low-cost, and scalable cryptocurrency for everyday transactions. It is gaining popularity in regions with high transaction volumes and low banking infrastructure.
- Peer-to-Peer Payments: BCH can be used to send and receive payments directly between individuals without the need for intermediaries.
- Merchant Adoption: BCH is accepted by a growing number of merchants both online and offline.
- Smart Contracts: BCH supports smart contracts, enabling developers to create decentralized applications on the BCH network.
6. Market Performance
BCH has experienced significant price volatility since its launch. Its market capitalization ranks among the top 10 cryptocurrencies.
- Highest Price: $4,355.22 (December 20, 2017)
- Lowest Price: $95.56 (July 13, 2022)
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