Bitcoin Cash (BCH) is a decentralized digital currency that emerged as a hard fork of the original Bitcoin (BTC) blockchain in 2017. Designed with the vision of becoming peer-to-peer electronic cash, BCH aims to deliver fast, low-cost transactions on a global scale. With growing adoption and consistent network upgrades, Bitcoin Cash continues to carve its niche in the cryptocurrency landscape—especially in emerging markets where affordable cross-border payments are in high demand.
This article explores the current Bitcoin Cash price in Sri Lankan Rupees (BCH/LKR), real-time market trends, key technical upgrades, use cases, and how it compares with Bitcoin. Whether you're an investor tracking BCH exchange rates, a merchant considering crypto payments, or simply curious about blockchain scalability, this guide offers valuable insights.
What Is Bitcoin Cash (BCH)?
Bitcoin Cash was launched on August 1, 2017, following a hard fork from the Bitcoin blockchain. Initiated by mining pools such as ViaBTC and driven by developers advocating for larger block sizes, BCH was created to restore Bitcoin’s original purpose as a usable digital cash system.
While Bitcoin prioritized security and decentralization with small 1MB blocks (later extended via SegWit), Bitcoin Cash increased the block size limit to 8MB by default, allowing more transactions per block and significantly reducing fees and confirmation times.
👉 Discover how Bitcoin Cash enables fast, low-fee global payments with real-time exchange updates.
Core Features of Bitcoin Cash
1. On-Chain Scaling
Unlike layered solutions like the Lightning Network, Bitcoin Cash focuses on on-chain scaling—increasing block size to accommodate more transactions directly on the main blockchain. This aligns with Satoshi Nakamoto’s original vision of a peer-to-peer electronic cash system.
The current 8MB block size can be adjusted dynamically, paving the way for future scalability improvements without relying on off-chain protocols.
2. Enhanced Transaction Security
Bitcoin Cash introduced a new signature hashing (SigHash) algorithm that:
- Prevents replay attacks between BTC and BCH chains
- Improves hardware wallet compatibility
- Solves the "transaction malleability" issue
These enhancements make BCH more secure for both users and developers building on the network.
3. Dynamic Difficulty Adjustment (DAA)
The Difficulty Adjustment Algorithm (DAA) ensures mining stability by recalibrating the proof-of-work difficulty after each block. This allows miners to quickly switch between chains based on profitability, preventing long chain stagnation during hash rate drops.
4. Decentralized Development Ecosystem
Multiple independent teams—including Bitcoin ABC, BCHN, and Flowee—develop and maintain compatible software implementations. This decentralization strengthens network resilience against centralized control or protocol manipulation.
Developers collaborate through open forums like the bitcoin-ml mailing list, ensuring transparent and community-driven decision-making.
Use Cases of Bitcoin Cash
Fast and Low-Cost Transactions
With larger blocks, Bitcoin Cash processes transactions faster and cheaper than Bitcoin. Average fees remain under $0.01, even during peak usage.
This makes BCH ideal for:
- Daily purchases (coffee, groceries, online services)
- Cross-border remittances
- Micropayments (content tipping, pay-per-use apps)
Merchants benefit from near-instant settlement without chargeback risks—a major advantage over credit cards.
Merchant-Friendly Payment Solution
Accepting Bitcoin Cash requires minimal setup:
- Generate a BCH wallet address
- Display a QR code at checkout
- Use platforms like Coinbase Commerce to integrate with e-commerce sites
No monthly fees, no per-transaction percentages—just direct peer-to-peer value transfer.
👉 Learn how businesses use BCH for frictionless international transactions.
Irreversible and Secure Payments
Once confirmed, Bitcoin Cash transactions cannot be reversed—even by fraudsters. This eliminates:
- Chargeback fraud
- Refund abuse
- Third-party interference
For online retailers, this means lower operational risk and reduced processing costs.
Easy Integration for Small Businesses
Even brick-and-mortar stores can adopt BCH with just a smartphone or tablet. Customers scan a QR code, send payment, and receive instant confirmation—all without intermediaries.
Network Upgrades and 2019 Milestones
Bitcoin Cash follows a scheduled upgrade cycle every six months, ensuring continuous innovation.
May 2019 Upgrade (Block 582680)
Key features implemented:
- Schnorr Signatures: Improved privacy and efficiency by enabling batch verification of multiple signatures.
- Segwit Recovery Exemption: Allowed retrieval of funds accidentally sent to SegWit addresses.
These changes laid the foundation for advanced smart contract capabilities and better scalability.
November 2019 Upgrade (Block 609135)
Major improvements included:
- Minimaldata Rule: Removed remaining sources of transaction malleability, making most BCH transactions immutable.
- Expanded Schnorr support to
OP_CHECKMULTISIG, enhancing multi-signature security.
These upgrades strengthened trust in the network’s integrity and long-term viability.
Simple Ledger Protocol (SLP) and Token Innovation
One of the most exciting developments on the BCH network is the Simple Ledger Protocol (SLP)—a token creation standard similar to Ethereum’s ERC-20.
In 2019 alone:
- Over 6,141 tokens were issued
- More than 312,505 SLP transactions occurred
Popular tokens built on SLP include:
- Honk Honk
- Spice
- ACD Coin
- Flex Coin
- Realmx (a blockchain-based video game)
These projects demonstrate how Bitcoin Cash supports not only payments but also decentralized applications and digital asset creation.
Cryptophyl, a dedicated SLP exchange, launched in 2019, providing liquidity for token pairs and fostering a vibrant ecosystem.
Bitcoin Cash vs Bitcoin: Key Differences
| Feature | Bitcoin Cash (BCH) | Bitcoin (BTC) |
|---|---|---|
| Block Size | Up to 8MB (adjustable) | 1MB base + SegWit |
| Transaction Speed | Faster confirmations | Slower due to congestion |
| Fees | Typically under $0.01 | Can exceed $5 during peaks |
| Scaling Approach | On-chain expansion | Off-chain (e.g., Lightning Network) |
| Transaction Finality | Highly irreversible | Same, but slower |
| Development Philosophy | Payments-focused | Store of value ("digital gold") |
While BTC has evolved into a store-of-value asset, Bitcoin Cash remains committed to being digital cash—usable for everyday transactions around the world.
Adoption and Global Impact
Bitcoin Cash adoption continues to grow in regions where financial access is limited:
- Venezuela: The "Bitcoin House" initiative in Barquisimeto educates locals on BCH usage.
- Africa: Projects like EatBCH provide food aid using cryptocurrency donations; operations expanded into Ghana in 2019.
- Charity: Nonprofits leverage BCH for transparent, low-cost fund distribution.
These real-world applications show that decentralized money can empower communities beyond speculation.
Frequently Asked Questions (FAQ)
Q: What is the current price of Bitcoin Cash in Sri Lankan Rupees (LKR)?
A: The BCH/LKR exchange rate fluctuates based on global market conditions. Check live data on major exchanges for up-to-date pricing.
Q: Is Bitcoin Cash a good investment?
A: As with any cryptocurrency, prices are volatile. However, its focus on usability, low fees, and consistent upgrades may support long-term value.
Q: Can I send BCH to a BTC address?
A: No. Despite shared history, they are separate blockchains. Sending BCH to a BTC address may result in lost funds unless recovered via replay protection tools.
Q: How do I buy Bitcoin Cash?
A: You can purchase BCH on regulated exchanges using fiat currency or other cryptocurrencies. Always use secure wallets for storage.
Q: Why did Bitcoin Cash fork from Bitcoin?
A: Disagreements over scaling led to the split. BCH supporters believed larger blocks were essential for global adoption as electronic cash.
Q: Does Bitcoin Cash have a future?
A: With active development, growing merchant acceptance, and innovative token projects via SLP, BCH maintains relevance in the evolving crypto economy.
Final Thoughts
Bitcoin Cash represents a bold experiment in digital money—one that prioritizes usability, affordability, and decentralization. While often overshadowed by Bitcoin in media coverage, BCH delivers practical solutions for real-world financial challenges.
From fast microtransactions to global remittances and tokenized assets via SLP, the network continues to evolve. For users seeking an efficient alternative to traditional payment systems—or investors watching BCH price trends against LKR and other fiat currencies—Bitcoin Cash remains a compelling option.
👉 Stay ahead with real-time BCH price tracking and secure trading tools.