Bitcoin Cash Price | BCH Live Chart and Price Index

What is Bitcoin Cash?

Bitcoin Cash (BCH) is a peer-to-peer electronic cash system due to the development stemming from the Bitcoin hard fork in August 2017. It is supposed to become a more practical peer-to-peer electronic payment system with a bigger block size, which allows for quicker processing of transactions with lower fees than Bitcoin.

What Problem Does Bitcoin Cash Solve?

Bitcoin Cash claims to solve a couple of issues associated with Bitcoin:

Scaling: The 1 MB block size limitation in Bitcoin only allows the processing of some transactions in an interval; hence, slow transaction time and high fees during peak demand. Bitcoin Cash increases the size of the blocks to 8 MB and later to 32 MB for more transactions to be processed, hence faster.
Transaction Costs: Bitcoin Cash reduces transaction fees by providing larger block sizes, making it more feasible for everyday transactions and micro-payments.
Speed: Faster transaction times make it more convenient to use Bitcoin Cash as a real digital currency for regular payments.

Why Does the Crypto Market Need Bitcoin Cash?

The features of Bitcoin Cash advantage the following aspects of the crypto market:

Enhanced Usability: With low transaction fees and relatively quicker processing time, Bitcoin Cash becomes a better contender for day-to-day transactions, thereby increasing the application of cryptocurrencies.
Decentralization: As an alternative to Bitcoin, Bitcoin Cash helps decentralize cryptocurrencies and gives users more choices.
Economic Efficiency: Lower transaction costs tend to encourage more activity regarding cryptocurrencies, which benefits both consumers and businesses.

History of Bitcoin Cash

Bitcoin Cash was born on August 1, 2017, after a hard fork from Bitcoin in controversial circumstances. There had been a long-running debate within the Bitcoin community about scaling the network. Roger Ver, amongst other influential figures in the Bitcoin Cash community, was rallying for an increased block size because it would provide more space for transactions within each block. This hard fork split the Bitcoin blockchain into two different chains, with Bitcoin Cash keeping the prior history of the ledger.

Who Created Bitcoin Cash?

Bitcoin Cash was created by a small team of developer and miner dissenters who saw misrepresentation in the proposed solutions to scale Bitcoin. Key players were Roger Ver, an early Bitcoin investor and advocate, and the developers from the Bitcoin ABC project, who gave the first implementation of the Bitcoin Cash software.

What Technology Does Bitcoin Cash Use and How Does it Work?

To meet the objective, Bitcoin Cash leverages some key technologies:

Bigger Block Size: Bitcoin Cash makes provisions to have more transactions processed in each block by increasing the block size to 32MB, thus reducing congestion and transaction fee rates.
DAA (Difficulty Adjustment Algorithm): An algorithm that maintains a continuous production of network blocks at a steady rate by adjusting the difficulty in mining without being affected by the variability of hash rates within the network.
Smart Contract Support: Bitcoin Cash has been augmented with support for smart contracts through the new Cashscript language, allowing users to write more complex transactions and applications on the network.

What Affects Bitcoin Cash Price?

Several factors influence the price of Bitcoin Cash:

Market Sentiment: News, developments, and the overall trends in the vast, lively cryptocurrency space could significantly impact BCH's price.
Adoption and Usage: Increased acceptance for transactions, payments, and merchant acceptance will drive up BCH demand.
Technological Developments: Upgrades and improvements in the Bitcoin Cash network to an even more secure technology with some new features could affect its value.
Regulatory Environment: There is a close nexus between changes in regulatory policies and legal considerations with investor confidence and market dynamics.

How Many Tokens of Bitcoin Cash Are in Circulation?

As per the most updated statistics, there are over 19 million BCH tokens in circulation. The total maximum supply is capped at 21 million, similar to Bitcoin, which creates a level of scarcity and foundation for long-term value appreciation.

What is the Maximum Supply of Bitcoin Cash?

The maximum supply for Bitcoin Cash is 21 million, just like the supply limit for Bitcoin. This fixed supply helps to keep scarcity and value over time, given the high demand for BCH.

What is Bitcoin Cash Utility?

Bitcoin Cash has a lot of possible uses within the virtual money world:

Transaction Fees: BCH is used to pay for transaction fees on the Bitcoin Cash network.
Payments: Many merchants widely receive BCH and can be used for everyday transactions ranging from buying coffee to paying for services.
Remittances: Bitcoin Cash is one of the cheap cross-border remittance choices in the line of peer-to-peer payments.
Smart Contracts: BCH allows for basic intelligent contracts, offering more complex use-case scenarios and applications.

Tokenomics of Bitcoin Cash

Tokenomics in Bitcoin Cash is designed to support its intention of being a digital currency. To describe it:

Fixed Supply: The total supply of BCH was set at 21 million tokens from the beginning, similar to the original Bitcoin.
Mining Rewards: Miners get rewards for validating transactions and securing the network, with block rewards halving about every four years. Because of this fixed supply and the periodicity of halving events, inflation is controlled, and the value of BCH is kept over time.

What is the All-Time High and All-Time Low for Bitcoin Cash?

For instance, Bitcoin Cash had its all-time high at approximately $4,356 in December 2017, back when cryptocurrencies were booming. Its record low was set at around $75 in December 2018 after a considerable correction of that market.

Where to Buy Bitcoin Cash?

BCH could be purchased on most of the major trading platforms for cryptocurrencies, like:

Binance
Coinbase
Kraken
Huobi
Bitfinex They have BCH trading pairs with both fiat currencies (USD, EUR) and other cryptocurrencies (BTC, ETH).

Who Invested in Bitcoin Cash at an Early Stage?

Early investments in Bitcoin Cash came from retail investors, miners, and notables within the cryptocurrency ecosystem. Roger Ver, an early entrant into and investor in Bitcoin, was perhaps the most prominent evangelist for Bitcoin Cash, helping to support its creation and development after its existence in 2017.

What Are the Revenue Streams of Bitcoin Cash?

Revenues from Bitcoin Cash:

Transaction Fees: The fee paid by the originator of each transaction that is processed on the Bitcoin Cash network.
Mining Rewards: Rewards are paid to miners to secure the network and process transactions.
Merchant Adoption: More merchant adoption and payment processing fees that add to the revenues in the Bitcoin Cash system.

Through solving methods related to scalability and the cost per transaction, Bitcoin Cash should be positioned to become an efficient and proven digital currency, supporting daily use and capturing more audience share within the cryptocurrency space.