To explain Bitcoin Cash (BCH) we have to start with Bitcoin Core (BTC). Since the inception of Bitcoin, there have been questions surrounding Bitcoin’s ability to scale effectively. Because Bitcoin has a fixed block size of 1 MB only a certain amount of transactions can be included in a block. This block size led to network congestion as demand for Bitcoin transactions has continued to grow. If a certain block is full your transaction has to wait to be included the next block, but it will only be included if your transaction has enough transaction fee to be included. Reason being that miners will process transactions with the highest fees first. If your transaction doesn’t include a high transaction fee it can take much longer before it is concluded in a block and processed by the Bitcoin network.
There are two solutions to this scaling issue:
- Make the amount of data needed to be verified in each block smaller so more transactions fit within the 1 MB block size.
- Increase the block size so more transactions can be included.
Bitcoin Cash opted for the second solution and increased the block size from 1 MB to 8 MB. This change took effect on August 1, 2017 and from that date blocks could contain 8 times the amount of transactions compared to Bitcoin. This makes Bitcoin Cash transactions faster and cheaper, because you are guaranteed that your transaction is included in the next block without the need to pay high fees!
Bitcoin Cash gambling websites
Because Bitcoin Cash transactions require less fees and are processed faster compared to Bitcoin we see an increasing amount of gambling sites starting to accept Bitcoin Cash payments. As of today the following gambling sites accept Bitcoin Cash