Bitcoin Cash

Bitcoin Cash is a Layer 1 blockchain that emerged as a hard fork of Bitcoin on 1 August 2017, designed to function as a medium of everyday payment. Its central claim is that the original Bitcoin network became too slow and costly for ordinary transactions, and Bitcoin Cash addresses this by increasing the block size limit from 1 MB to 8 MB, allowing more transactions to be processed per block. The intended users are anyone who wants to send and receive digital payments at low cost without long confirmation waits.

Bitcoin Cash uses the same SHA-256 Proof of Work consensus algorithm as Bitcoin, where miners compete to add blocks and are rewarded with newly issued BCH plus transaction fees. Over a recent 24-hour period the network produced 140 blocks at a median block time of roughly 617 seconds and settled 11,283 transactions, carrying a 24-hour average fee of approximately 0.006772 USD and a median fee of 0.001 USD per transaction. BCH is the native token used to pay those fees and to transfer value on the chain, which has grown to 217.094585 gigabytes in total size.

Miners are the primary recipients of economic flows on Bitcoin Cash, collecting both block rewards and transaction fees paid by users in BCH. Over the most recent 24-hour period, new issuance amounted to 116,624.38 USD, reflecting an annualized inflation rate of 0.793683 percent; because the protocol has no burn mechanism, net issuance equals gross issuance at that same figure. Transaction fees themselves are very small — the 24-hour average was 0.006772 USD and the median was 0.001 USD — meaning the fee stream directed to miners is modest relative to the block reward at present. The protocol itself retains nothing: there is no treasury, no protocol fee, and no fee-sharing mechanism beyond miner rewards.