Bitcoin Cash Node Specification

Bitcoin Cash (BCH) is the fork of the main cryptocurrency, Bitcoin. The split of the Blockchain into Bitcoin and Bitcoin Cash (BCH) occurred in 2017. Unlike another fork, Bitcoin SV, which is considered by developers only as a means of accumulation and payment, Bitcoin Cash implements technical solutions that are not available in the original Bitcoin. The first and one of the main innovations was the increase in the size of the transaction block first to 8, and after hard fork to 32 megabytes. The primary Bitcoin has second-level solutions, such as the Lightning Network for transaction acceleration or Plasma. Bitcoin Cash (BCH) cryptocurrency can be implemented with second-tier solutions, but for the time being it remains outside of developers' interests. Bitcoin Cash also supports smart contracts and decentralized application development. No one has implemented any significant projects in this direction either.

In many ways, the Bitcoin Cash (BCH) cryptocurrency inherited properties from Bitcoin. It also has a Genesis Block, and the maximum number of cryptocurrency units is limited to 21 million. Creating new blocks provides a Proof of Work algorithm. Just like the original Bitcoin, there is a system of light public crypto nodes, full public crypto nodes, and super Bitcoin Cash nodes. Each device connected to the network with installed Bitcoin Cash software performs functions of the light Bitcoin Cash node, checking and transferring transactions over the network. The full Bitcoin Cash node is synchronized with the blockchain, which means a deeper check of the transaction before it is written to the blockchain. From the original Bitcoin inherits a proven and stable system super Bitcoin Cash node, this is a particularly powerful Bitcoin Cash node. The structure of Bitcoin Cash node connections ensures that over time each transaction will spread across the network and reach each full BCH node.

The size of the fund intended for financing promising projects related to Bitcoin Cash (BCH) exceeds $200 million. One of the main organizers of the project, Roger Wer, has, though not unambiguous, but huge popularity in the community of cryptographic enthusiasts. The implementation of technical innovations is much faster than in the original Bitcoin and the way from idea to implementation takes months. More and more cryptocurrency exchanges support Bitcoin Cash, offering exchange in pairs with both digital and fiat currencies. There is a good chance that futures on Bitcoin Cash will appear on the major U.S. stock exchanges.

If you have Bitcoin on your wallet, it will not be difficult to pay for goods or services in cryptocurrency. Bitcoin Cash accepts a small number of stores, and this cryptocurrency has not really become neither a means of accumulation nor a means of payment. The number of blockchain nodes’ providers is clearly not enough, so this cryptocurrency has a problem with centralization. Also, the popularity of Bitcoin Cash cryptocurrency was affected by the further division of its blockchain into two parts. These are Bitcoin ABC and Bitcoin SV. The team that created and maintained Bitcoin Cash named their network Bitcoin ABC, and the Bitcoin SV team created a competitor cryptocurrency. The letters SV represent Satoshi Vision, as the creators of Bitcoin SV believe that their cryptocurrency is closer to the origins. Once there was a technical failure, because of which public crypto nodes of Bitcoin ABC were mistakenly connected to public crypto nodes of Bitcoin SV. A significant problem is that another fork of Bitcoin ABC network is possible at any moment.