Bitcoin Cash is a cryptocurrency developed in mid 2017 by a group of developers wanting to increase bitcoin’s block size limit prepared a code change.
The change called “hard fork” took effect on 1st August 2017 at 18:24:41 UTC (GMT) as bitcoin underwent hardfork and it separated into bitcoin and bitcoin cash.
Note:- A hard fork is when a new blockchain is created from an existing blockchain,however the existing blockchain technology has to undergo changes.
It was in an effort to improve the efficiency of transactions that bitcoin cash broke off from the original bitcoin network.
Bitcoin Cash aims to take bitcoin in a new direction geared towards faster transaction speed and lower fees.
*It is decentralized :- The network is spread out across many different computers all over the world.
*Secure:- Bitcoin Cash uses strong secured encryption to prevent hacking,fraud,and cyber attacks.
*Open:- The history of all bitcoin cash transactions is logged on a publicly accesible blockchain that can be viewed and verified by anyone.
*Peer-to-Peer:- Mr Don can send Bitcoin Cash directly to Mr Charles from anywhere in the world without needing an intermediary,like bank.
Ways To Avoid Replay Attacks And Access To Your BCH.
*Keep your bitcoin private keys with you.
*Use reliable exchanges and wallets like Tehlex
*if you hold your keys in a reliable wallet like tehlex,wait for instructions from Tehlex on how to access your BCH coin.
Future Of Bitcoin This 2019
Bitcoin Cash is currently the 4th largest cryptocurrency and one of the top altcoins in the market with a capitalization of $20.69 billion.
Even though 2018 was a tough year for Bitcoin Cash, 2019 would be a very wonderful year for the altcoin.
Note:- The cryptocurrency market is highly speculative and price changes can happen within minutes due to factors like regulations, competitions,emergence of a new tech,market sentiments, e.t.c.
So it is difficult to come up with an accurate forecast for bitcoin cash this year.
According to Bitcoin Cash Expert,Roger Ver,he predicted that Bitcoin Cash would be two times more valuable this year.
Another Blockchain Analyst,predicted Bitcoin Cash Price $6,700.
That’s about 500% growth in just a year,others say $7,000,$7520.50,but nevertheless we expect an increase in the price of Bitcoin Cash this year.