Want to know more about BCHA? We’ve got you covered!
On November 15, the Bitcoin Cash (BCH) blockchain split into two chains. To tell the two chains apart, each was given a provisional name by exchanges: Bitcoin Cash ABC (BCHA) and Bitcoin Cash Node (BCHN).
When a chain split happens, one chain will typically hold onto the original cryptocurrency name and ticker, while the other chain will become a separate cryptocurrency with new branding. In this case, BCHN held on to the BCH name and ticker.
That means BCHA will soon be branded with an official coin name, logo, and ticker. When it launches we’ll reach out to exchanges and other businesses directly to make them aware. If you’d like to get notified too, you can sign up here:
Described as innovative by Binance, BCHA has a unique funding feature called the coinbase rule, which reinvests 8% of each BCHA block reward to fund future network development. This funding model rewards the technical talent developing the network through predictable compensation (a salary), whereas BCH relies on a donation funding model instead.
Half of the funds raised by the coinbase rule will finance ongoing roadmap development, so BCHA can scale to become sound money for the world. The other half of the funds will be managed by the Global Network Council—a collection of miners and holders who decide which projects will receive funding to bring value to the network.
Before sending BCHA or BCH from your wallet, it is important to split your pre-fork coins so that your transactions are not replayed (for example also sending BCH when you only meant to send BCHA to someone). There a several ways this can be done.
A good way to split BCH and BCHA from each other is to use Electrum ABC and Electron Cash, as described here.
Some other methods are to use an exchange, as this tutorial explains, or alternatively you can use this website. But remember that the splitting process may not always go as planned so it is wise to test with smaller amounts first, or use a method where you only send coins to yourself (as with the Electrum ABC - Electron Cash method above).