A digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.
Bitcoin Cash (BCH) is a peer-to-peer electronic cash for the Internet. It is fully decentralized, with no central bank and requires no trusted third parties to operate. It allows users to send and receive any amount of money, anywhere around the world, virtually for free, and there nothing that anyone can do to stop it. Bitcoin Cash is a fork of Bitcoin that upgrades the blocksize to allow more transactions per second while keeping fees extremely low. It is a revolution that is changing the way everyone sees and uses money.
In 2009, Satoshi Nakamoto (a pseudonym) published the Bitcoin white paper. Satoshi left the project in late 2010 without revealing much about himself. The community has since grown exponentially with many developers working on Bitcoin.
August 1, 2017.
While nobody owns the Bitcoin Cash network much like no one owns the technology behind email, Bitcoin Cash is controlled by all Bitcoin Cash users around the world. While developers are improving the software, they can't force a change in the Bitcoin Cash protocol because all users are free to choose what software and version they use. In order to stay compatible with each other, all users need to use software complying with the same rules.
The Blockchain is a vast, distributed public ledger of account. It keeps track of every transaction ever made in the network, and all transactions are timestamped and verified by network miners.
Crypto mining is analogous to the mining of gold, but its digital form. The process involves specialized computers solving algorithmic equations or hash functions. These problems help miners to confirm blocks of transactions held within the network. Crypto mining provides a reward for miners by paying out in cryptocurrency in turn the miners confirm transactions on the blockchain. Miners introduce new cryptocurrency coins into the network and also secure the system with transaction confirmation. They are also rewarded network fees for when they harvest new coin and a time when the last coin is found mining will continue.