BitcoinCash (BCC), known as BitcoinCash in English, is a new blockchain asset created by a hard fork of bitcoin. It is a decentralized virtual currency supported by a community of large block advocates. BCC removes the block size limit of 1M and supports the block size of 8M. It insists on the on-chain expansion line. The goal is to better complete the Satoshi Nakamoto white paper described "point to point encrypted electronic cash system".
BCC was gradually mined at 20:00 on August 1, when block 478559 was separated from the Bitcoin main chain. Viabtc, a Chinese mining pool, mined the first BCC block, which subsequently mined the next block, 478560. Before the separation from the main chain, the information stored in the blockchain and the software running it were compatible with all Bitcoin nodes. After the separation from the main chain, it gradually implemented new coding and packaged large blocks, so a new BCC blockchain was born, and BCC gradually moved to the road of separate development.
At present, BCC network has been stable, most of the block rate close to the average of 10 minutes out of a block. BCC will have great development opportunities in the future, and the infrastructure of BCC is gradually improved.
BCC mining is the same as Bitcoin mining, with the only difference being the dynamic mining strategy used.
BCC when just was born for BTC difficult mining, mining is of faith can dig at a loss, in the currency of the and 12 hours out of a block, in order to ensure the BCC the development of network stability, BCC choose mining difficulty dynamic adjustment countermeasures, which can ensure the block rate of BCC can very good into count rate reduced.
BTC is a difficulty adjustment every 2016 blocks, and BCC adds a rule that "if the MTP interval between the previous six blocks is more than 12 hours, the next difficulty will be reduced by 20%". At present, the difficulty of BCC mining has been reduced a lot, and is about 13% of the difficulty of BTC mining. BCC's current block output rate is close to the average of one block per 10 minutes.
BCC is technically very similar to BTC, enhanced with more blockization and transaction replay maintenance, the latter in a new signature approach. Newly signed Hashing also brings additional benefits, such as improved hardware wallet security with input value signing and the elimination of secondary Hashing headaches. In short, it can be said to be intrinsically more secure than BTC, and it is intended to run and use quickly and more quickly.
However, the BCC does face a key threat: most of the attacks, where a single entity gets more than 51% of the network's processing power, are security risks. At the same time, the common enemy shared by the two blocks is the terminal break attack. Most attackers use network interruption to disrupt the network, which is used to improve the chance of success.
While both partitioned networks and network latency attacks are threats, according to the new Exploration Paper, for so-called decentralized networks, there are likely to be fewer than assumed, with 20% of Bitcoin nodes being hosted in fewer than 100 IP prefixes.
To sum up, BCC Cash is a new blockchain asset caused by the hard fork of bitcoin. The principle of BCC mining is similar to that of bitcoin, the only difference is dynamic mining. At present, BCC mining returns are still considerable, which can be used as an investment choice.