- Bitcoin's explosive growth was driven by the fact that it was an open source cryptocurrency. Hence the big problem: the block size was 1MB. As a result, the reliability of transactions fell, and fees began to rise. However, what is a block and why is it limited to 1 MB?
- Before being accepted by the network, every transaction must be confirmed. This is the block. The fact is that bitcoin makes it possible to carry out only 7 operations per second. If you have exceeded the limit, the network will reject your operation. This was done in order to protect against intruders who could interfere with the operation of the network by conducting the so-called DDOS attack.
- In 2015, Bitcoin XT was released, a fork of the Bitcoin Core client. Researcher Gavin Andresen was already talking openly about 8 MB in his BIP 101. Soon BIP 101 was dropped from the Bitcoin XT code. It has been superseded by the 2MB flash protocol used by Bitcoin Classic. It, in turn, was another fork of Bitcoin Core.
- As soon as Bitcoin Classic appeared, it immediately gave the hope of increasing the block size, which was supposed to be 2 MB instead of 1. But, unfortunately, this project was closed.
- Bitcoin Cash, which became the first official Bitcoin hard fork, with blocks of the long-awaited 8MB. However, unfortunately, even 8 MB does not completely solve the issues with commissions.
How to buy BCH? You can buy BCH on the exchange.
You can look at this list on an independent resource: https://coinmarketcap.com/rankings/exchanges/
To start the buying process, follow the steps below:
1. Go to the section: "Buy and Sell Cryptocurrency".
2. Select the cryptocurrency you want to buy (BCH) and the currency in which you will pay.
3. Log in to the exchange or register if you do not have your own account.
4. Select a Payment Method.
5. If necessary, enter the card details and go through the verification of your identity.
6. That's all! Your BCH will be credited to your account shortly.
Then you can transfer BCH to your account at coin-bet.io
1. Go to the website coin-bet.io
2. Login or register if you do not have your own account
3. Go to the deposit page, activate the BCH deposit method
4. Copy the address on the website coin-bet.io
5. Open your account on the exchange website and enter the copied address in the recipient line.
6. That's all! Your BCH will soon be credited to your Coin-Bet account.