{"id":1112,"date":"2018-06-14T16:40:54","date_gmt":"2018-06-14T14:40:54","guid":{"rendered":"https:\/\/www.closeoption.com\/blog\/?p=1112"},"modified":"2024-12-15T08:23:12","modified_gmt":"2024-12-15T07:23:12","slug":"whatever-you-should-know-about-bitcoin-cash","status":"publish","type":"post","link":"https:\/\/www.closeoption.com\/blog\/whatever-you-should-know-about-bitcoin-cash\/","title":{"rendered":"Whatever you should know about\u00a0Bitcoin Cash"},"content":{"rendered":"<p>We addressed with regard to <strong>digital currencies<\/strong> in the previous articles and we are going to introduce you another currency called <strong>Bitcoin<\/strong> <strong>Cash<\/strong>.<\/p>\n<p>One of the biggest problems with <strong>Bitcoin\u00a0<\/strong>is the <strong>extension<\/strong> of the network and the number of users <strong>increases<\/strong>. Therefore, transaction confirmation will be much slower. Bitcoin will choose a <strong>hard process<\/strong> to verify the money to <em>transfer<\/em> due to the <strong>hacker\u2019s attacks<\/strong> and this will make the network slower and it takes time to transfer money from one account to another in Bitcoin.<\/p>\n<p><a href=\"https:\/\/www.closeoption.com\/blog\/wp-content\/uploads\/2018\/05\/intro-btc.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-1177\" src=\"https:\/\/www.closeoption.com\/blog\/wp-content\/uploads\/2018\/05\/intro-btc.jpg\" alt=\"\" width=\"610\" height=\"388\" srcset=\"https:\/\/www.closeoption.com\/blog\/wp-content\/uploads\/2018\/05\/intro-btc.jpg 1500w, https:\/\/www.closeoption.com\/blog\/wp-content\/uploads\/2018\/05\/intro-btc-300x191.jpg 300w, https:\/\/www.closeoption.com\/blog\/wp-content\/uploads\/2018\/05\/intro-btc-768x488.jpg 768w, https:\/\/www.closeoption.com\/blog\/wp-content\/uploads\/2018\/05\/intro-btc-1024x651.jpg 1024w\" sizes=\"auto, (max-width: 610px) 100vw, 610px\" \/><\/a><\/p>\n<p>This problem will make <strong>Bitcoin\u00a0<\/strong>less usable for smaller <strong>purchases<\/strong> of less than $100 because the seller and buyer normally detest waiting for a <strong>few hours<\/strong> <strong>to get low fees<\/strong>. This, of course, will make Bitcoin\u00a0useless in <strong>purchasing in person<\/strong>, because a salesman is not interested in waiting for a gum for <strong>30 minutes<\/strong> to have his money!<\/p>\n<p><strong>The problem triggers the Bitcoin\u00a0developer engineers, Amaury <\/strong>Sechet<strong>, creates hard fork as a new long-lasting which is called the new Bitcoin\u00a0cash and is now known as the BCH symbol.<\/strong><\/p>\n<h2><span style=\"color: #000000;\">All should we know about the digital exchange platform (<span style=\"color: #800000;\">Hard Fork<\/span>)<\/span><\/h2>\n<p><span style=\"color: #800000;\"><strong>Hard Fork<\/strong><\/span> means a new branch from a <strong>digital exchange platform<\/strong> that will <strong>create<\/strong> a new <strong>digital currency<\/strong>, so <strong>Bitcoin\u00a0<\/strong>can be considered as an <strong>independent currency<\/strong>.<\/p>\n<p><span style=\"color: #800000;\"><strong>Hard Fork<\/strong> <\/span>means <strong>cryptographic programmers<\/strong> have decided to make some changes in their programs. These changes are a lot which no further transfer is made based on these changes. In fact, a new currency has actually been created.<\/p>\n<p><b>Take, for example, you are familiar with PDFs. Annually, new versions of software that can open PDF files are presented, along with software that can make PDFs, and updates. The changes are applied to them, but if you create a PDF with an old version, new software and update can also open your PDF\u00a0so here is presented a new soft fork from\u00a0PDF<\/b><\/p>\n<p>But if the changes in the new software are not able to open the old PDF files so you have to copy and paste your old PDF from scratch, then rebuild it to the new PDF format to be opened. Despite the fact that it creates a PDF file, it does not support the previous version.<\/p>\n<h2>What is the main difference between <span style=\"color: #000000;\"><strong>Bitcoin<\/strong> <strong>cash<\/strong> and <strong>Bitcoin<\/strong><\/span>?<\/h2>\n<p>The <strong>length<\/strong> of a block in <strong>Bitcoin\u00a0<\/strong>is <strong><span style=\"color: #ff0000;\">1 megabyte<\/span><\/strong>, and in <strong>Bitcoin cash<\/strong> is <strong><span style=\"color: #ff0000;\">8 megabytes<\/span><\/strong>. As a result, with the increase in the <strong>length<\/strong> of each block in the Bitcoin, the number of more transactions in a block can be processed and stored, thus we can see increasing the <strong>rate<\/strong> of <strong>transfer<\/strong> of money in the <strong>Bitcoin\u00a0cash<\/strong>.<\/p>\n<p>In the previous articles, we uttered about Block that one block in <strong>Bitcoin<\/strong> is defined as a <strong>megabyte<\/strong>. If a transfer wants to take place, each block must verify the previous block and the less data is stored on an MB, so when the processors ask for a Verification to be transferred, more blocks should be checked, while in Bitcoin cash has stored eight-time more information, so processing speed rises.<\/p>\n<p>Bitcoin cash established on first of August in 2017 since it has not been for a long time. Since Bitcoin cash price is $ 1,362.35 on April 25, 2018, indicating the success of this currency, so Bitcoin Cash is said to be a good investment option.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We addressed with regard to digital currencies in the previous articles and we are going [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":1177,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1314],"tags":[],"class_list":["post-1112","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Essential Bitcoin Cash Info<\/title>\n<meta name=\"description\" content=\"Bitcoin Cash (BCH) is a fast-paying, low-fee crypto that aims to be global money. Learn more about this altcoin.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.closeoption.com\/blog\/whatever-you-should-know-about-bitcoin-cash\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Whatever you should know about\u00a0Bitcoin Cash\" \/>\n<meta property=\"og:description\" content=\"Bitcoin Cash (BCH) is a fast-paying, low-fee crypto that aims to be global money. Learn more about this altcoin.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.closeoption.com\/blog\/whatever-you-should-know-about-bitcoin-cash\/\" \/>\n<meta property=\"og:site_name\" content=\"CloseOption Official Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CloseOption.LLC\" \/>\n<meta property=\"article:published_time\" content=\"2018-06-14T14:40:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-15T07:23:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.closeoption.com\/blog\/wp-content\/uploads\/2018\/05\/intro-btc.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"954\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Hooper\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Closeoption1\" \/>\n<meta name=\"twitter:site\" content=\"@Closeoption1\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Scott Hooper\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.closeoption.com\\\/blog\\\/whatever-you-should-know-about-bitcoin-cash\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.closeoption.com\\\/blog\\\/whatever-you-should-know-about-bitcoin-cash\\\/\"},\"author\":{\"name\":\"Scott Hooper\",\"@id\":\"https:\\\/\\\/www.closeoption.com\\\/blog\\\/#\\\/schema\\\/person\\\/2c9732ab75e145fe72602f1298a8e30c\"},\"headline\":\"Whatever you should know about\u00a0Bitcoin Cash\",\"datePublished\":\"2018-06-14T14:40:54+00:00\",\"dateModified\":\"2024-12-15T07:23:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.closeoption.com\\\/blog\\\/whatever-you-should-know-about-bitcoin-cash\\\/\"},\"wordCount\":558,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.closeoption.com\\\/blog\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.closeoption.com\\\/blog\\\/whatever-you-should-know-about-bitcoin-cash\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.closeoption.com\\\/blog\\\/wp-content\\\/uploads\\\/2018\\\/05\\\/intro-btc.jpg\",\"articleSection\":[\"Blockchain\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.closeoption.com\\\/blog\\\/whatever-you-should-know-about-bitcoin-cash\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.closeoption.com\\\/blog\\\/whatever-you-should-know-about-bitcoin-cash\\\/\",\"url\":\"https:\\\/\\\/www.closeoption.com\\\/blog\\\/whatever-you-should-know-about-bitcoin-cash\\\/\",\"name\":\"Essential Bitcoin Cash Info\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.closeoption.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.closeoption.com\\\/blog\\\/whatever-you-should-know-about-bitcoin-cash\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.closeoption.com\\\/blog\\\/whatever-you-should-know-about-bitcoin-cash\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.closeoption.com\\\/blog\\\/wp-content\\\/uploads\\\/2018\\\/05\\\/intro-btc.jpg\",\"datePublished\":\"2018-06-14T14:40:54+00:00\",\"dateModified\":\"2024-12-15T07:23:12+00:00\",\"description\":\"Bitcoin Cash (BCH) is a fast-paying, low-fee crypto that aims to be global money. 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