Bitcoin Cash (BCH) is a fully open-source decentralized platform allowing users to make international financial transactions without wasting time standing in queues or filling out tedious bank forms.
Due to some differences concerning scalability and the proposed Bitcoin (BTC) SegWit upgrade of 2017, some holders voted for a hard fork away from the parent community, and Bitcoin Cash (BCH) was founded. Hence, Bitcoin Cash (BCH) launched using Bitcoin’s (BTC) source code and inherited its robust security.
Like Bitcoin (BTC), Bitcoin Cash (BCH) operates a Proof-of-Work consensus mechanism where miners solve complex puzzles to validate new blocks of transactions. However, unlike Bitcoin (BTC), which has a block size of 1MB, Bitcoin Cash (BCH) operates with a 32MB block size, allowing more transactions to be included in a validated block.
This upgrade ensures that more transactions are processed per second, increasing the network’s output while maintaining low user fees. Thus, Bitcoin Cash (BCH) satisfies the global demand for a functional payment system resistant to governmental censorship and regulation.
Cointelegraph reports increased activity on the Bitcoin Cash (BCH) blockchain after its recent halving event. During the BCH halving, the reward given to miners for successfully validating a block of transactions decreased from 6.25 BCH to 3.125 BCH.
Correspondingly, the BCH token’s price has fallen in the past few months, from $600 in March to a current value of $376.13. It has created massive speculation about the token’s future. AMBCrypto analysts forecast positive price movement, with Bitcoin Cash (BCH) possibly breaking past the $600 mark by Q4 2024.
However, this optimistic price prediction is still far from BCH’s all-time high of $4,355.62. Thus, the next bull run may only favor new BCH token holders or investors comfortable with less risky investments.#bitcoin #BCH #memecoin🚀🚀🚀 #ETH