The Bitcoin Cash (BCH) price is currently $550.18 in USD, with a circulating supply of 17.30M BCH. Its market capitalization (market cap) is $9.52B. $461.71M worth of BCH has been traded in the last 24 hours, with its price changing by +0.97% over this period.
About Bitcoin Cash
Bitcoin Cash (BCH) is the largest fork of Bitcoin (BTC) in terms of market capitalization. Spearheaded by Bitcoin evangelist Roger Ver, the fork aims to more closely follow the vision of Bitcoin creator Satoshi Nakamoto as outlined in the Bitcoin white paper.
The decision to fork was largely a result of differing opinions on how to scale Bitcoin. While members of the BTC camp favored second layer, off-chain solutions like the Lightning Network, BCH proponents favored increasing the block size of the blockchain. BCH’s current block size is 32 MB, whereas BTC’s is 1 MB.
Bitcoin Cash (BCH) has a number of advantages and disadvantages when compared to Bitcoin (BTC):
- Cheaper on-chain transaction fees.
- Proponents claim it’s safe to accept 0-confirmation transactions which, if true, would allow near-instantaneous use for purchases.
- Decreased on-chain network congestion.
- Increased number of orphaned blocks, due to a greater delay in block propagation.
- Larger block size makes full nodes more expensive to operate.
- BTC proponents believe no amount of increase to the block size would be a feasible solution if Bitcoin reached massive adoption. In general they think it’s at best a temporary solution.
There’s been no shortage of animosity between the two camps. The BCH side feels the BTC side has strayed from the vision of early “Bitcoiners”, while the BTC side feels that BCH has tried to trick people into thinking BCH is the real Bitcoin.
Bitcoin Cash Price History
On August 2nd, when many major exchanges opened BCH markets, its price was around $400. The current price of Bitcoin Cash is $550.18 with a market cap of $9.52B.
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