What is Bitcoin ABC (BCHABC) – How Does it Works? (Easy To Understand)

What is Bitcoin ABC (BCHABC) - How Does it Works? (Easy To Understand)

What is Bitcoin ABC (BCHABC)? – While the cryptocurrency market is not happy with positive news, and CoinMarketCap is all in “bloody snot”, we decided to write several articles about new altcoins. Today, we will tell you about Bitcoin ABC cryptocurrency.

What is Bitcoin ABC cryptocurrency

Bitcoin ABC cryptocurrency is a new type of electronic payment system based on cryptography, which appeared as a result of the separation of the Bitcoin Cash network on November 15, 2018. Proponents of this project want to significantly change the technology that was laid in the original Bitcoin blockchain cryptocurrency.

The main ideological inspirer of Bitcoin ABC is Roger Ver – the owner of one of the most popular and ancient cryptocurrency sites, his main assistant is the co-founder of the largest mining company Bitmain Cihan Wu. The name of this cryptocurrency comes from the name of the team working on it – Bitcoin ABC.

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According to experts, it is Bitcoin ABC that will trade under the ticker BCH, although it is possible that you will see Bitcoin ABC.

Bitcoin ABC Features

Some developers of Bitcoin Cash cryptocurrency, in particular the Bitcoin ABC group, from whose name the name of the new branch in the Bitcoin Cash network appeared, decided to radically change their blockchain. Due to disagreement with the change, the so-called Satoshi Vision, the nChain team decided to separate from the other development team. This is how the Bitcoin SV project appeared, which, according to Craig Wright and the nChain team, will correspond to the true cryptocurrency model.

The Bitcoin ABC cryptocurrency team wants to implement the following technical changes:

  • integrate new code for cross-transaction transactions;
  • integrate “canonical order transactions” to make the platform as scalable as possible;
  • provide functionality that allows the community to vote for the block size;
  • integrate smart contracts into the Bitcoin ABC blockchain, as well as to realize the possibility of creating decentralized applications.
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About the features of Bitcoin SV cryptocurrency, you can read here.

Where to buy Bitcoin ABC

After hardforka, it was Bitcoin ABC that got the cryptocurrency ticker Bitcoin Cash – BCH. According to some publications, BCHABC won the name from its competitor Bitcoin SV.

Bitcoin ABC cryptocurrency coins you can buy on the Binance exchange, and other cryptocurrency exchanges. At the time of the cost of writing the price of its cost is $ 250. 

We will not specifically write our opinion about the prospects of this cryptocurrency, because at the moment it is difficult to assume something and talk about something, since the market is in limbo.

Let’s wait for the stabilization of the market situation, and then make our forecast.

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