BCH Price Update
The price of Bitcoin Cash (BCH) today is $494.49 USD, which has increased by 18.30 (3.85%) over the last 24 hours. The total number of BCH coins in circulation stands at 18,629,118 and $140,562,149 USD has been traded for the BCH/USD pair across exchanges over the last 24 hours.
About Bitcoin Cash
Bitcoin Cash launched on August 1st 2017 following a contentious software upgrade on the Bitcoin network. The software upgrade, which was proposed as a means to help increase transaction throughput on Bitcoin, was considered unsafe by many in the community. As the software upgrade looked evermore inevitable, a group of developers and users coordinated to launch Bitcoin Cash, a new blockchain that inherited the user balances and code from Bitcoin but excluded the contentious upgrade. Bitcoin Cash has since implemented an alternative approach to scaling by increasing the chain’s maximum blocksize from 1mb to 32mb and beyond.
Bitcoin Cash hopes to reinstate the original vision of Bitcoin that was outlined in Satoshi Nakamoto’s whitepaper: “Peer to Peer Electronic Cash”. The slow throughput of the Bitcoin network and the high fees associated with it are – according to Bitcoin Cash proponents – antithetical to this vision.
The price of Bitcoin Cash (BCH) tracks the price if Bitcoin (BTC) closely and experiences similar levels of volatility.