Bitcoin Cash (BCC) is safe

Bitcoin Cash (BCC) is safe

zupago
Jul 28, 2017

On August 1st the Bitcoin fork called “Bitcoin Cash” or “BCC” will likely be introduced. For more information about BCC, Contact Us.

If the fork is successful you will automatically have the equivalent amount of BCC as the amount of BTC stored in your ZuPago.pe wallet. At the moment, the ZuPago.pe wallet does not support making transactions with Bitcoin Cash nor displaying a separate balance for it. We are, however, offering a tool to allow users to extract Bitcoin Cash from the ZuPago.pe wallet using the PDF wallet backup

What is Bitcoin Cash?
Bitcoin Cash is peer-to-peer electronic cash for the Internet. It is fully decentralized, with no central bank and requires no trusted third parties to operate.

Is Bitcoin Cash different from 'Bitcoin'?
Yes.  Bitcoin Cash is the continuation of the Bitcoin project as peer-to-peer digital cash.  It is a fork of the Bitcoin blockchain ledger, with upgraded consensus rules that allow it to grow and scale.


If I own Bitcoin, do I automatically own Bitcoin Cash too?
Yes.  Because Bitcoin Cash is a fork of the ledger, that means you own the same amount of Bitcoin Cash as you did Bitcoin at the time of the forking block.  However, if your Bitcoins are stored by a third party such as an exchange, then you must inquire with them about your cash.

How is transaction replay being handled between the new and the old blockchain?
Bitcoin Cash transactions use a new flag SIGHASH_FORKID, which is non standard to the legacy blockchain.  This prevents Bitcoin Cash transactions from being replayed on the Bitcoin blockchain and vice versa.


Why was a fork necessary to create Bitcoin Cash?
The legacy Bitcoin code had a maximum limit of 1MB of data per block, or about 3 transactions per second.  Although technically simple to raise this limit, the community could not reach a consensus, even after years of debate.

 
Alternatively, you can leave your Bitcoin in your ZuPago.pe wallet and extract it at a later date. Regardless of your choice, you can feel confident that all of your funds will remain safe as you continue making transactions. You can create a wallet here: https://Zupago.pe/



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