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What is the issuance and circulation of BCH coins?
BCH coins emerged from a 2017 Bitcoin hard fork, with an initial supply matching Bitcoin's, distributed on a 1:1 basis to holders.
Oct 12, 2024 at 05:05 pm
BCH coins, also known as Bitcoin Cash, emerged as a result of a hard fork in the Bitcoin blockchain on August 1, 2017. The following outlines the key aspects of its issuance and circulation:
1. Issuance:- BCH coins were created through the duplication of Bitcoin (BTC) balances held by users at the time of the hard fork.
- The initial total supply of BCH was equal to the total Bitcoin supply at that time (approximately 12,763,192 BTC).
- BCH coins were distributed to eligible Bitcoin holders in a 1:1 ratio.
- This means that if an individual held 1 BTC before the fork, they received 1 BCH.
- BCH coins entered circulation immediately after the hard fork.
- They are traded on various cryptocurrency exchanges and can be stored in BCH-specific wallets.
- BCH transactions are processed and verified by a separate blockchain distinct from the Bitcoin blockchain.
- As of February 2023, the circulating supply of BCH is approximately 19,209,972 BCH.
- The market value of BCH fluctuates in relation to the supply and demand dynamics in the cryptocurrency market.
- It is currently ranked among the top 20 cryptocurrencies by market capitalization.
- Similar to Bitcoin, BCH undergoes halving events approximately every four years.
- During a halving, the block reward for miners is reduced by half, slowing down the issuance rate of new coins.
- The most recent BCH halving occurred on April 8, 2020, reducing the block reward from 12.5 BCH to 6.25 BCH.
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