Thanks to you @besticofinder, for your lecture this week. I’m here to present my homework and I will be writing on Bitcoin Cash, a great project I fell in love with. Please join me as I explore.
Introduction and History of BCH
The price hike of Bitcoin and the increasing unreliability of the Bitcoin network gave birth to the idea of a better payment system: Bitcoin Cash.
Among the benefits of BCH, are low transaction fees, speed of transaction, among others. The BCH payment system is a P2P network, which offers the community the consensus towards increasing the network capacity.
It should be noted that at the beginning of the project on 1st August, 2017. Recall that anyone who held bitcoin in their wallets at the time of launch of BCH got equivalent amount of BCH in a 1:1 proportion.
It is ranked 11th on coinmarketcap.
Scope of BCH
The BCH community is decentralized, offering different developers all over the world the opportunity to improve upon the software. It is resistant to political influence and as such it is not prone to social attacks on its protocol.
Looking at the review, anyone can propose a change on the protocol by going to bitcoin-ml mailing list.
Why Invest In BCH? – Benefits
There are a lot of benefits for both individual investors and merchants in the BCH community. We look at the following:
Almost zero transaction fee: With BCH you can transfer money to anyone around the world, 24 hours, 365 days. There is no need for third party and the low cost of transaction permit for small transfers of as low as $0.5.
Known fixed supply and scarcity: The BCH protocol is designed in a way that the total circulating supply can never exceed 21,000,000. As such, under market volatility, scarcity can still be created, leading to price hike and subsequent profit for investors.
This is contrary to conventional banks where users money can be devalued under inflation and recession.
BCH offers one of the best use cases and with the above benefits, it has the ability to command more popularity in the future. BCH is the asset of the people, as anyone can own it, no matter how small. Check it out today.