Bitcoin Cash (BCH) is a cryptocurrency that was created in 2017 as a result of a hard fork from Bitcoin (BTC). It was designed to address some of the scalability issues that BTC was facing, particularly with regards to transaction fees and processing times. Since its inception, Bitcoin Cash has seen significant adoption and has become one of the most popular cryptocurrencies on the market. In this article, we will explore how many Bitcoin Cash are currently in circulation.
At the time of writing, there are 18.7 million Bitcoin Cash in circulation. This number is constantly changing as new blocks are mined and more Bitcoin Cash are released into circulation. The maximum supply of Bitcoin Cash is 21 million, which means that there are still around 2.3 million Bitcoin Cash yet to be mined.
Unlike fiat currencies, Bitcoin Cash has a fixed supply, which means that the number of coins in circulation will never exceed 21 million. This is a deliberate feature designed to ensure that the currency is not subject to inflation. As the supply of Bitcoin Cash approaches 21 million, the rate at which new coins are mined will decrease, eventually reaching zero.
The process of mining Bitcoin Cash involves using specialized computer hardware to solve complex mathematical equations. When a miner successfully solves a block, they are rewarded with a certain number of Bitcoin Cash. This reward is halved every 210,000 blocks, which occurs roughly every four years. The last halving occurred in April 2020, and the next one is scheduled for 2024.
The current block reward for mining Bitcoin Cash is 6.25 BCH. This means that every time a new block is mined, 6.25 BCH are added to the circulating supply. As more blocks are mined, the total supply of Bitcoin Cash will gradually increase until it reaches the maximum of 21 million.
It is worth noting that not all Bitcoin Cash that have been mined are in circulation. Some Bitcoin Cash may be held in wallets or on exchanges, while others may have been lost or destroyed. It is estimated that around 2.3 million Bitcoin Cash have been lost or destroyed over the years, which means that the actual circulating supply is slightly lower than the total number of coins that have been mined.
In conclusion, there are currently 18.7 million Bitcoin Cash in circulation, with a maximum supply of 21 million. The number of Bitcoin Cash in circulation will continue to increase as more blocks are mined, but the rate of increase will gradually slow down until it reaches zero. The fixed supply of Bitcoin Cash is one of its key features and is designed to ensure that the currency is not subject to inflation.