BCH, short for Bitcoin Cash, is a peer-to-peer electronic Cash system. It is a hard-fork of a peer-to-peer digital currency at the height of 478558 Bitcoin block.

It is intended to enable "a new economy of low cost small transactions, large commercial transactions and unauthorised spending".

As bitcoin's user base further expanded, the 1M block size could not handle the increasing volume of transactions, and the network began to suffer from congestion, excessive fees, and transactions that could not be packaged for a long time.

On August 1, 2017, Bitcoin Cash implemented a hard fork at block height 478558, following a three-year debate in the community about bitcoin congestion: 1 distribution, total 21 million, delete isolated witness, upgrade block upper limit to 8M, later upgrade to 32M, solve the problems of high handling fee, slow confirmation, poor practicability in the old version of Bitcoin system through on-chain expansion, fulfill the promise of Bitcoin as "point-to-point electronic cash".

BCH is a peer-to-peer digital currency hard forked at bitcoin block height 478558. Compared to BTC, it removed the isolated witness and increased the block size to 8M, followed by 32M following a hard fork upgrade in May.

1. Payment: BCH can make better use of its services as point-to-point electronic cash with its advantages of low handling fee and zero confirmation. 2. BCH has a wide application prospect in poverty alleviation, small reward, and color coin (dyeing some addresses to make them have a specific meaning)

A total of 21 million BCH are mined using sha256 algorithm's proof of work mechanism, and the reward for mining is halved every 4 years.

By design, the Bitcoin Cash network is set up to process transactions quickly and cheaply. 2. Bitcoin cash transactions that are affordable for both customers and merchants will soon be mined -- even at low fees. Since more transactions fit in an 8MB block, there is less competition to ensure that transactions are confirmed in the next block. One of the risks of accepting credit card payments, especially online, is fraud. Merchants always face the risk of a refund (transferring funds from a consumer's credit card or bank account). Some financial institutions actually charge merchants a fee. 4. Easy to implement Small merchants only need their Own Bitcoin Cash address to start accepting BCH payments. Physical stores should have a device, such as a phone or tablet, so consumers can easily scan the QR code. The Bitcoin Cash community is unique in its commitment to continue upgrading the network. Recently, the developers released an update to the BCH address format. BCH addresses now include "Bitcoincash:" before the usual string of letters and numbers, so people scan the bar code without mistaking it for a Bitcoin address. Mitigating this risk helps simplify and speed payments.

Bitcoin Cash is a peer-to-peer cryptocurrency algorithm driven by SHA-256Dproof-of-work (PoW). It was derived from the original Bitcoin protocol to increase the network block size from 1M bytes to 8M (32M) bytes by increasing the block size.

BCH has no pre-mining behavior, so its total amount is 21 million pieces, the same as BTC. However, due to its unstable starting block speed, the current flux is more than BTC. The current flux is 17.29 million, and the block reward is 12.5BCH, and the rest need to be dug out through mining.

1. The decentralized Bitcoin Cash network is controlled by all Bitcoin Cash users, and no one or organization can change or stop Bitcoin Cash operations unless a majority of Bitcoin users agree to make a change (such as a rule change or version upgrade). As an Internet currency, bitcoin cash can be sent and received at a very low cost, just like sending and receiving emails, wherever there is a network. You can send money to anyone around the globe 24 hours a day, 365 days a year. Like the Internet, the Bitcoin Cash network is year-round. Transactions are large and small, and no one's authorization or approval is required anymore. Anonymous Bitcoin Cash is more private and anonymous than traditional payment methods such as bank transfers and credit card payments because it is generally impossible to know who controls bitcoin addresses. Fixed cap The Bitcoin Cash protocol guarantees that there will never be more than 21 million bitcoins in existence. The government keeps printing money, endlessly oversupplying it and devaluing everyone's savings. Bitcoin cash is rationed and therefore sound money. Bitcoin Cash is a programmable currency that can implement smart contracts on top of money. A programmable economy will significantly solve the problem of transparency and credibility in economic operation and reduce the cost of social operation.

BTC can be said to be the preexistence of BCH, but after the fork, BCH has been considered as the new DIRECTION of BTC, with a larger block, can handle more transactions, there will not be BTC due to the block is too small, processing speed can not keep up with the number of transactions, resulting in congestion phenomenon. This is the most detailed difference between BCH and BTC. This also directly results in the lower procedure cost of BCH than THAT of BTC. Due to the slow transaction processing speed of BTC, the transaction whose commission price is higher will be processed first, which is impossible for BCH. Since the BCH community is different from the current BTC community core team in concept, simply speaking, BCH and BTC are not much related, becoming a new currency. BCH can be regarded as the "innovation" in the currency, they agree with the currency block size through ascension, agree more project can implement, should use the latest technology on the COINS, but their radical also let they criticized, say they are profit-seeking miners, does not respect the will of the hearing, they are like innovation in the history of the pie, Passionate but too radical.

In addition to the risks affected by the project's own factors, it is also susceptible to the external environment, such as government regulation, industry development, technology safety and other factors.