Bitcoin Cash / BCC (BCH)
|Market Cap||Volume||Last Trade|
Bitcoin Cash / BCC Details
|Max Supply||Algorithm||Proof Type||Launch Date||Platform||Website|
|20999999.9769||SHA-256||PoW||2017-08-01||blockchain||NO||Block RR||Block No||Network H/S||Current Supply||Block Reward||Bitcoin Cash / BCC|
Bitcoin is a peer-to-peer digital currency — sometimes referred to as a cryptocurrency — that allows users to pay for goods and services without the need for banks and traditional payment methods. Bitcoin cash (BCC or BTC) doesn’t rely on any one monetary authority, so transactions can take place anonymously. These transactions are also largely untraceable and not subject to tax. To say that Bitcoin cash is just a currency is to simply its functions and capabilities. BCC is a commodity, as well as a currency. Anyone with a computer can, potentially, start mining BCC. CPUs are used to carry out enormous calculations, with the aim of finding a specific sequence of data. It is becoming increasingly difficult to mine bitcoin cash in any great volume, however, and there is a cap of just 21 million until at least 2040.
History of Bitcoin Cash
The idea of a virtual currency using the blockchain was first discussed by members of the cypherpunk mailing list. The original premise involved using a distributed database, which would be spread over the many nodes of a peer-to-peer network. The science and code behind the digital currency was developed and perfected by a programmer named Satoshi Nakamoto in 2008, and the platform was launched in 2009.
Much like finding prime numbers, the process of mining bitcoin cash was relatively easy back in 2009. However, as word of this anonymous cryptocurrency spread around the World, more and more people joined the party. As a result, it is now harder than ever to mine bitcoin cash. There have also been a few serious price fluctuations over the years. Opportunists have attacked a BCC exchange in the past in a bid to destabilise it. They do this in the hope that owners will panic and sell — flooding the market with cheaper BCC.
Technology of Bitcoin Cash
Bitcoin cash harnesses the power of individual CPUs and GPUs to execute complex calculations. The main objective of these calculations is to find the specific sequence of data that constitutes a “block”. It is this block that produces a pattern with the Bitcoin algorithm is applied. The computer that manages to successfully perform this huge calculation wins the available Bitcoins.
A simple home computer on its own is very unlikely to mine any Bitcoins over the Internet — unless it is left running for two or three years. Only the most powerful computers in the World are up to this mammoth task, which is why more and more people are joining “mining pools” in order to pool their data processing assets.
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Coins similar to Bitcoin Cash / BCC
Bitcoin Is Here to Stay
If you’re thinking about mining BTC, you’ve probably missed the boat. The calculations required are way beyond even the most powerful home processors. However, this is a great time to buy, sell and spend Bitcoin cash, thanks to the increasing number of public businesses that are accepting the digital currency as secure payments. As well as being a practical alternative to money, credit cards and bank transfers, BTC is a commodity that can be traded on the international market — making it attractive to speculators.
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