An alt coin that uses Bitcoin Cash for its transaction data.
Bitcoin Cash uses Bitcoin as its payment method and uses a new algorithm called “Proof of Work” to create its own block chain.
A block chain is a record of transactions in a distributed ledger.
Blockchain is a way to store the history of transactions.
Each transaction is a piece of data and a timestamp.
Transactions are recorded in blocks which are then verified.
There is also a “time stamp” which tells us when a transaction was made.
Blockchains are used in a variety of applications, including insurance, tax, banking, insurance, and more.
BitcoinCash was the second coin announced this week, after Ripple announced Bitcoin Classic.
Ripple has announced plans to release the first Bitcoin Cash block chain as well.