Introduction

Despite the short-term activation of "bears" on the Crypto market, many cryptocurrencies and coins continue to grow.

Among the many bullish cryptos, Bitcoin Cash posted the best percentage gain in the 7-day period and met the hopes of many investors.

In this blog, we will tell you what is the leading coin of the week - Bitcoin Cash, what was the growth of the coin in a week and where you can buy it using the fastest and the easiest way in Georgia.

What is Bitcoin Cash?

Bitcoin Cash (BCH) is a cryptocurrency that emerged as a result of a hard fork from the original Bitcoin blockchain in August 2017. To better understand the essence of cryptocurrency, we must first know what a Hard Fork is, the one that gave rise to the creation of Bitcoin Cash.

Hard fork refers to a significant and permanent divergence in the blockchain's protocol. It occurs when the rules governing the blockchain are changed in such a way that the new version is not compatible with the previous version. As a result, the blockchain splits into two separate chains, each following a different set of rules.

When a hard fork happens, the existing blockchain and its transactions are replicated, creating a new and independent blockchain with its own history. This means that from the point of the fork onward, the two blockchains operate independently, and transactions on one chain are not recognized on the other.

Hard forks can be initiated for various reasons, including:

1. Protocol upgrades: Hard forks are sometimes used to implement significant upgrades or improvements to the blockchain's protocol, such as adding new features, enhancing security, or improving scalability. These changes require a modification of the existing rules and often result in a hard fork.

2. Disagreements within the community: In decentralized blockchain networks, conflicts and differences of opinion among developers, miners, or users can arise regarding the direction of the blockchain. If consensus cannot be reached on proposed changes, it may lead to a hard fork, with one group of participants continuing to support the original chain while the other group follows the new chain.

Bitcoin Cash shares a lot of similarities with Bitcoin, but it also incorporates some significant differences that make it stand out. The primary goal behind the creation of Bitcoin Cash was to address certain scalability issues and improve the speed and efficiency of transactions.

Bitcoin Cash operates on a decentralized peer-to-peer network, meaning it does not rely on a central authority like a government or financial institution. It allows users to send and receive digital cash directly, without the need for intermediaries. This decentralized nature ensures transparency, security, and freedom for its users.

What are the advantages of Bitcoin Cash?

One of the key features of Bitcoin Cash is its larger block size. While Bitcoin has a block size of 1 MB, Bitcoin Cash increased it to 8 MB, which allows for more transactions to be processed in each block. This results in faster and cheaper transactions, making Bitcoin Cash an attractive option for everyday use.

All this combined helps investor with day-to-day transactions.

On What Blockchain does Bitcoin Cash Operates?

Bitcoin Cash operates on its own blockchain, separate from the Bitcoin blockchain. The blockchain is a public ledger that records and verifies all transactions made with Bitcoin Cash. It is a chain of blocks, where each block contains a list of verified transactions.

The Bitcoin Cash blockchain utilizes a consensus mechanism called Proof of Work (PoW). Miners, who are individuals or entities with specialized hardware, compete to solve complex mathematical problems. The miner who successfully solves the problem adds a new block to the blockchain and is rewarded with newly minted Bitcoin Cash as an incentive.

The blockchain acts as a secure and transparent record of all Bitcoin Cash transactions. Once a transaction is added to a block, it becomes part of the permanent blockchain history, ensuring immutability and preventing any tampering or double-spending.

What was the Growth in 7-days for Bitcoin Cash?

Although the crypto market has been in a negative trend for the past two weeks and cryptocurrencies started to fall in price, the green wave still won at the end of the day and the market was finally active again.

A lot of coins have increased their price, and among them, the most successful in terms of percentage growth in a week was Bitcoin Cash, which increased its price by an average of 83%.

You can buy the asset for $195, which is far from its all-time high, but Bitcoin Cash is showing a positive trend and maybe history will repeat itself.

If Cryptal’s user bought $1000 of Bitcoin Cash on Monday of last week, today his assets would be equivalent to $1830, taking into account the percentage growth, which means an increase of $830 in 7 days.

According to the latest data, the Market Capitalization of Bitcoin Cash is up to 4 billion dollars, and the average trade of the last one day is equal to 865 million dollars, which indicates the activity of large investors, called “Whales”.

As the price rises, people will become more interested in buying Bitcoin Cash, which will ultimately have a positive impact on the value of the crypto.

Bitcoin Cash ranks 20th in terms of volume on coinmarketcap, indicating that the cryptocurrency is one of the biggest "players" in the market and many crypto investors are pinning their hopes on it.

Where and How to buy Bitcoin Cash?

If you think that it's a good time to buy Bitcoin Cash and you don't know where and how to buy the asset in Georgia, don't worry.

The most popular cryptocurrencies are available on Cryptal, including Bitcoin Cash. Buying it requires a simple registration process to purchase.

To buy the crypto, you can use 2 simple ways:

• Spot Exchange

When you place a buy request for a specific amount of Bitcoin Cash on an exchange, it triggers a process where the exchange endeavours to match your request with a suitable counterparty. This involves connecting traders who are looking to buy with those who are willing to sell Bitcoin Cash. The exchange aims to ensure that your request is fulfilled within a predetermined price range, facilitating a seamless transaction between the two parties. This matchmaking mechanism helps create a liquid marketplace where buyers and sellers can efficiently trade Tron and ensure that orders are executed as efficiently as possible.

• Instant Convert

With the Instant Convert functionality, customers looking to buy or sell Bitcoin Cash can bypass the wait for a suitable counterparty to fulfil their request. This feature enables users to swiftly purchase or sell the desired amount of cryptocurrency directly from a crypto exchange at a fixed price. The transaction occurs instantaneously, and the acquired Bitcoin Cash or the proceeds from the sale are promptly transferred to the customer's digital wallet. This streamlined process eliminates the need for waiting and offers immediate access to Bitcoin Cash without relying on matching orders with other traders.

Summary

Bitcoin Cash offers a new and improved take on the concept of digital cash. Its larger block size and faster transaction speeds make it an attractive option for those seeking a more efficient payment system.

By operating on its own blockchain, Bitcoin Cash provides a secure and decentralized environment for conducting peer-to-peer transactions.

Over the past week, the price of the asset has increased by around 83%, which is quite an impressive number, and with this figure, it has topped many assets in the vast ocean of cryptocurrencies.