What is Bitcoin Cash?
Bitcoin (BTC) split in two on August 1st 2017, creating a new, separate blockchain. Say hello to Bitcoin’s new twin: Bitcoin Cash.
Bitcoin Cash (BCH or BCC) is a new Bitcoin clone designed to speed up digital transactions. Bitcoin Cash launched on August first after some miners decided to split bitcoin’s blockchain in two. Blockchain is the digital ledger that records every bitcoin transaction. If you owned Bitcoin during the split, you might already have some Bitcoin Cash in your wallet. Most Bitcoin owners received an equal amount of the new currency, doubling their cryptocash.
Bitcoin Cash vs Bitcoin
|Block size: 8 MB maximum||Block size: 1 MB maximum|
|SecureSigs: Transaction signatures must be validated and secured on the blockchain||Segwit: Transaction signatures can be separated from the blockchain|
|Implemenation: Bitcoin Unlimited, Bitcoin XT, Bitcoin Classic, Bitcoin ABC||Implementation: Bitcoin Core|
|Scaling: On-chain transactions and market driven blocksize increases||Scaling: Off-chain payment channels|
What does it mean for online players and casinos?
Because of the 1MB limit on blocks, Bitcoin transactions are not cheap anymore and require high fees in order to be confirmed quickly. This problem could be solved by off-chain methods, but those solutions are very complex to build, and not as secure and trustless as the bitcoin blockchain. By hard forking bitcoin and increasing the block size, Bitcoin Cash reinstall very low fees and faster transactions. Players can now deposit their coins instantly on the casino platform, without paying high fees. It’s a matter of time before online casinos and players embrace Bitcoin Cash cryptocurrency.
List of gambling sites accepting Bitcoin Cash
- Luckygames: play roulette, dice, balls, cells games with Bitcoin Cash. No registration required. Verify each bet with the fair tool.