Introduction to Bitcoin Cash

Bitcoin Cash is peer-to-peer electronic cash. This means it is digital money that anyone can send and receive anywhere in the world. Bitcoin Cash uses a decentralized and globally distributed network of computers. This network has no central authority or single coordinator. Instead, it relies on a consensus mechanism that incentivizes and rewards participants who act honestly, and deters and punishes those who try to exploit the honest use of the network.

History of Bitcoin Cash

Bitcoin Cash was introduced to the world in 2008 in a technical document titled “Bitcoin: A Peer-to-Peer Electronic Cash System”. Since then, the Bitcoin Cash network has operated uninterrupted, fulfilling the central objective proposed in that document: to serve as a generalized medium of exchange for users who choose to use it instead of centralized alternatives.

Advantages of Bitcoin Cash

The main advantages of using Bitcoin Cash are:

• Low usage costs compared to other cryptocurrencies, where fees can be very high.
• Fast transactions.
• Scalability and ability to handle a high volume of transactions.

From an economic perspective, Bitcoin Cash follows the classical principles regarding the function and origin of money.

Global Use of Bitcoin Cash

Bitcoin Cash is used by many people around the world to meet the demand for money that is not controlled by a central bank. It offers the advantages of money that does not require high maintenance costs, is always available, and works very well for small transactions. This is especially important in emerging economies where the availability of good money is not abundant.