Bitcoin Cash

Halal Rating :
Comfortable
Last Price $460.54 Last updated:
Rank 19
1D Change 2.27 %
Market Cap $9.12b
Circulating supply 19,810,372
Maximum supply 21,000,000

Crypto Overview

Categories
  • Mineable
  • PoW
  • SHA-256
  • Marketplace
  • Medium of Exchange
  • Store Of Value
  • Enterprise Solutions
  • Payments
  • Bitcoin Ecosystem
  • Layer 1

Purpose and Utility

Bitcoin Cash was created in 2017 as a fork of Bitcoin, with the primary purpose of serving as a peer-to-peer electronic cash system. The main technical difference is larger block sizes (32MB vs Bitcoin's 1MB), enabling more transactions per second and lower fees.

Business Model and Implementation

BCH operates as a decentralized payment network, facilitating direct value transfer between parties. The network is maintained by miners who secure transactions through Proof of Work, receiving block rewards and transaction fees as compensation. This aligns with halal principles as it involves real asset exchange and provides clear utility.

Real-World Adoption

Bitcoin Cash has achieved notable merchant adoption, with thousands of businesses worldwide accepting BCH as payment. Popular platforms like BitPay support BCH transactions, and various exchanges list BCH trading pairs. The network processes thousands of daily transactions, demonstrating active usage for its intended purpose.

Development Activity

Bitcoin Cash maintains active development through multiple independent teams. Regular protocol upgrades occur through a community-driven process. Notable improvements include the Schnorr signature implementation and plans for enhanced smart contract capabilities.

Token Distribution

As a Bitcoin fork, BCH inherited Bitcoin's distribution model. There was no pre-mine or ICO, and new coins are created through mining rewards. The maximum supply is capped at 21 million BCH, with approximately 19.5 million currently in circulation. This distribution method is considered fair and transparent.

Crypto Impact

To assign a comfort level investing in Bitcoin Cash from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Bitcoin Cash.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

We will review your contribution for accuracy before publication.

Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

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