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1. What is Bitcoin Cash (BCH)?
Name: Bitcoin Cash
Symbol: BCH
History:
In 2017, a lot of efforts were being made to solve Bitcoin’s scalability issue
There were two popular solutions:
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increase the block size to allow more transactions to fit into each block, and
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maintain a 1 MB block size and scale using layer-two solutions.
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In July 2017, Bitcoin (BTC) miners representing more than 80% of the Bitcoin computing power voted to incorporate the SegWit2x (segregated witness) technology to improve Bitcoin.
Many miners and developers, who did not want SegWit2x to be introduced, initiated a hard fork on 1 August 2017 and created a new crypto – Bitcoin Cash (BCH).
BTC holders at block 478558 automatically got BCH free in a 1:1 ratio.
Features of BCH:
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BCH has its own blockchain, and its network supports up to 32MB blocks. BTC has a block size of 1 MB.
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BCH processes 200 transactions per second, while BTC manages around seven transactions per second.
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BCH uses the Cashscript smart contract languages for enabling more complex functions.
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The BCH Simple Ledger Protocol (SLP) enables developers to issue tokens on top of BCH in a manner similar to the Ethereum blockchain.
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Bitcoin SV
Bitcoin SV (BSV), also called Bitcoin Satoshi’s Vision, is the result of a BCH hard fork in 2018. BSV seeks to raise its block size to 1 TB.
2. Metrics
As of 22 March, the core metrics of BCH are:
Price metrics:
| Current Price |
$351 |
| All-time high (20 December 2017) |
$4355.62 |
| All-time low (15 December 2018) |
$75.08 |
Supply metrics:
| Circulating supply |
19 million BCH |
| Total supply |
19 million BCH |
| Maximum supply |
21 million BCH |
Note:
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Circulating supply is the number of coins/tokens in public hands.
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Total supply is the number of coins/tokens created minus the number burned.
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Maximum supply is the maximum amount of this crypto that can ever exist
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Figures have been rounded off for convenience
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Marketcap & Volume metrics:
| Market Cap: |
$6.7 billion |
| Fully Diluted Market Cap: |
$7.4 billion |
| Volume (24h): |
$3.9 billion |
| Volume / market cap ratio: |
0.59 |
Note:
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Market cap = Current Price x Circulating Supply
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Fully Diluted Market Cap would be the market cap if the maximum supply was in circulation
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Volume (24h) is the fiat value of this crypto traded over the last 24 hours
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Volume / market cap ratio = 24h Volume / Marketcap
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Figures have been rounded off for convenience
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Note: The data is from CoinMarketCap, Messari, and Future Money Wallet and may be rounded off.
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The author is an amateur boxer, a blockchain architect, a Tintinologist and a retired hacker.
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