Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen
Bitcoin Cash (BCH, BCC) is a hard forked version of the original Bitcoin, which is similar to the original cryptocurrency regarding to its protocol, same block times and reward system. However, the main difference is the blocksize limits, as from now on Bitcoin has a 1MB blocksize limit whereas BCC proposes 8MB blocks.
Distributed database that is used to maintain a continuously growing list of records, called blocks
As the Bitcoin blockchain hardfork was successfully launched on August 1st, a new cryptocurrency has entered the market.
The community’s attitude to BCC remains a bit diverse. Thus, while some exchanges are not going to rush to add BCC trading to their lists, the others give a warm welcome to BCC tokens.
A new cryptocurrency representing a hard-forked version of Bitcoin, different from it in the blocksize limits
One of the main reasons for such an ambiguous attitude towards Bitcoin Cash is BCC potential volatility. Although the cryptocurrency becomes the third-biggest cryptocurrency on the first day of creation, some experts predict extreme volatility for Bitcoin Cash. Firstly, it surged to $422 just after the first block was mined. Afterwards it dropped to $383. Then the price rose again up to $433.
Bitcoin Cash price chart on coinmarketcap.com
As the chart shows, BCC's price reached its peak so far at 13:50 UTC, that was 691 USD (so that the price has increased by more than 100% according to coinmarketcap.com).
However, at the time of writing the price is again on the decline. It goes without saying that that's intriguing to observe the roller coaster of the brand new cryptocurrency, so we are lucky to be present at such a historical moment.