Bitcoin Cash (BCH)
Bitcoin Cash is a currency that derived from Bitcoin on August 1, 2017. Its total amount, algorithm, block interval, and difficulty adjustment mechanism are basically similar to Bitcoin. The main difference is the block size. The size of Bitcoin Cash is 8M while the size of Bitcoin block was 1M. After Bitcoin Cash derived from Bitcoin, Bitcoin Cash was expanded again. And the current block size is 32M.
In 2017, Bitcoin transactions were heavily congested as Bitcoin is more widely used. The capacity of Bitcoin block is 1M and each block can accommodate a limited number of transactions. In order to solve this problem, the community proposed to conduct a segregation witness (SegWit) upgrade to update the block capacity from 1M to 2M. At the moment, some people proposed an 8M expansion plan, and derived Bitcoin Cash BCH. Bitcoin and Bitcoin Cash are officially forked at the height of the 478558 block.
The function of Bitcoin Cash miner is similar with Bitcoin miner, such as Antminer S9i, Innosilicon T2 and so on.
- BCH official website: https://www.bitcoincash.org/
- Explorer address: https://bch.btc.com/
- Total Amount: 21000000 BCH
- Algorithm: SHA256
- Block interval: 10 minutes on average
- Block reward adjustment interval: 210000 blocks
- Difficulty adjustment: block by block
- Block reward: 6.25 BCH
- The above statistics are recorded on December 7, 2021.