BCH Coin Price Today _ BCH Coin Update _ BCH Coin Market Trends【OKX Hot】
November 10th, 2022

How much is Bitcoin Cash (BCH) worth?

Bitcoin Cash today (2022.11.10) is valued at $703.69 per annum, with $454 million generated during the 24-hour period. The price of Bitcoin Cash has fallen 17.49 per cent in the past 24 hours. We'll be updating BCH / CNY prices live. The currency is currently ranked 27th in market capitalisation with a real-time market capitalisation of 13,515 million. It has 19,158,418 BCH in circulation for a total supply of 21,000,000 BCH.

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about Bitcoin Cash (BCH)

Bitcoin Cash (BCH), fully known as Bitcoin Cash, is a new crypto digital asset from miner Via BTC based on the Bitcoin ABC solution. Like Bitcoin, it is a cryptocurrency based on de-centralization, using peer-to-peer networks with blockchain as the underlying technology. The Bitcoin community debated expansion for three years until August 1, 2017, when Bitcoin Cash executed a hard fork in blockchain height 478558, distributed at Bitcoin 1: 1, for a total of 21 million. Removing quarantine witnesses, the block cap was upgraded to 8M and later upgraded to 32M, which addressed the high fees, slow recognition, and poor practicality of Bitcoin in the old Bitcoin system through chain expansion, fulfilling Bitcoin's promise to be a "peer-to-peer e-cash."

How does bitcoin cash work?

Like bitcoin, bitcoin cash consists of a network of distributed nodes. Both networks use workload proof consensus mechanisms.

The node receives the transaction and shares it with the rest of the network. Miners then collect the trades into blocks and try to hash all the trading data using random numbers. If the resulting hash falls below the dynamic threshold set by the network, the miner can add their block to the blockchain. Miners who successfully add blockchain rewards will be rewarded with bundles.

Because each block contains hash data from the previous block, they are called linked together -hence the term "blockchain." Attempting to change data in any previous block invalidates all subsequent blocks, that is, information recorded in the block cannot be tampered with.

What's the difference between bitcoin and bitcoin cash?

The biggest difference between bitcoin cash and bitcoin is the size of the block. Bitcoin cash blocks can now reach 32MB. Bitcoin blocks are theoretically capped at 4MB.

Bitcoin blocks, which are kept small to ensure maximum de-centralization and security, are increasingly used to store value assets -similar to digital gold. Bitcoin Cash, by contrast, aims to be a global, unlicensed, low-cost payment network.

Larger blocks allow Bitcoin cash to process more transactions per second. However, some argue that this enhanced transactional capacity comes at the expense of de-centralization and security.

What is Bitcoin cash for?

Bitcoin Cash's main goal is to become a payment network. By not relying on central intermediaries to issue new units or process transactions, BCH transactions do not require permits and are not affected by international borders. Thousands of retailers around the world have accepted Bitcoin cash payments, and that number is growing.

In addition, there is no central agency to issue new Bitcoin cash. This tightly controlled and reduced inflation rate encourages investors to buy BCH in the belief that their purchasing power will increase in the future.

Finally, changing demand in the context of this limited supply makes BCH prices highly volatile. BCH is popular with traders because of the ability of bitcoin cash prices to fluctuate wildly in a short space of time.

If you want to buy BCH as an investment or as a medium of exchange, you can do so at EY. We are the world's leading digital currency exchange.

What happens if I send Bitcoin cash to a Bitcoin address?

If the receiving address is not a SegWit address, the individual receiving BCH needs to know the private key to the BTC address. Since the old addresses on both networks are in the same format, you can retrieve the money software and associated private key through the BCH wallet.

If the receiving address is SegWit BTC, the miner's assistance is required.

If the receiving address is controlled by an exchange or other service provider, restoration will depend on their own policies. At EY, we regret that we are unable to help you recover the Bitcoin cash sent to our BTC address.

When you send any cryptocurrency, double-check your transaction address before clicking send, and risk losing it if you fill it out wrong!

What's the difference between BCH and BSV?

BSV is an offshoot of Bitcoin Cash, which was created in November 2018. At the time, some in the Bitcoin cash community wanted to increase the size of blocks, introducing 128MB of blocks and breaking up the Bitcoin cash network.

BSV represents Bitcoin's vision for Satoshi Nakamoto. Its most influential backer, computer scientist Craig Wright, also claims to be bitcoin creator Satoshi Nakamoto. The main difference between the two is that BSV has more blockchain space than Bitcoin Cash's 32MB limit.

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