About Bitcoin Cash
Realizing the promise of Bitcoin as "Peer-to-Peer Electronic Cash", Bitcoin Cash was brought to the world, making fees much lower-priced and confirmation trustworthy. Unlimited development, worldwide adoption and revolutionary innovation await.
White paper Abstract
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.
Bitcoin Cash Founders and Development Team
Satoshi Nakamoto published a paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System" on the cryptographic mailing list of "metzdowd.com". The paper describes in detail how to create a decentralized electronic trading system that does not need to be created on the basis of mutual trust between trading parties. On January 3, 2009, he developed the first client application programme that implemented the bitcoin algorithm and conducted the first "mining" to obtain the first batch of 50 bitcoins, including the famous phrase. :The Time 03/Jan/2009 Chancellor on brink of second bailout for banks On July 20, 2017, bitcoin cash began to branch out with Bitcoin at block height 478559 and has since become two blockchains, but their founders are all Satoshi Nakamoto.
Craig Wright, Bitcoin Jesus Roger Ver, founder of Bitcoin Wu Jihan and other influential people expressed their strong support for the expansion scheme of bitcoin cash chain.
Bitcoin cash differs from Bitcoin in that bitcoin cash is maintained by several independent development groups, including bitcoinABC, bitcoinXT, Bitcoin Unlimited, etc.
The first execution of the Bitcoin cash agreement was called Bitcoin ABC, and the future meeting of Bitcoin in Arnhem, Netherlands, was issued by Amaury "Dead Nix" Sechet. Subsequently, for the first time, Bitcoin released Bitcoin cash-compatible software, called BUCash, without restrictions. Bitcoin XT was also released before the bitcoin cash branch. This means that there will be 3 full node clients available before Bitcoins cash fork on August 1, 2017.
These customers implemented the following changes from Bitcoin:
1. The maximum block size has been increased to 8 megabytes.
2. Modify the transaction signature hash algorithm which provides rebroadcast protection for bitcoin cash transactions and bitcoin chains.
3. Replace the original bitcoin difficulty adjustment algorithm with the new Emergency Difficulty Adjustment Algorithm (EDA) algorithm (difficult adjustment per 2016 block). The purpose of the EDA is to allow a quicker response to the sharp drop in power after the bifurcation.
1.On Chain Scalability
On-chain scalability is one of the core features of Bitcoin Cash, it follows the Nakamoto roadmap and aims for mass adoption all over the world. Even massive future expansion will still be within Bitcoin Cash’s scalability scope.
2.New Transaction Signatures
The new transaction signatures make sure that the whole platform is under complete protection, improving wallet safety and doing away with many potential problems.
3.New Difficulty Adjustment Algorithm (DAA)
The New Difficulty Adjustment Algorithm (DAA) grants miners the ability to converse from blockchains as desired, at the same time shielding miners from mining-related undulations.
Bitcoin Cash is completely decentralized. Individuals, banks, financial organizations, or even governments have no influence on the network. Bitcoin Cash will develop without any sort of political or social interference.
Bitcoin Cash Price
The price of Bitcoin Cash to USD had been greatly fluctuating ever since its release. The price reached the historical high at 4,355.62 USD on Dec 21, 2017. After that, it had been on a falling trend.During April 2018， bitcoin cash are entering to the bull market. At May 6 reaching to the $1800 standard, then the price start to decrease.
Bitcoin Cash Network has completed the protocol upgrade on May 15, 2018.