What is a bitcoin cash address and how does it work?

3 answers

• Nov 26, 2021 · 3 years ago
  A bitcoin cash address is a unique identifier used to receive or send bitcoin cash. It is a string of alphanumeric characters that starts with a 'q' or 'p'. When you want to receive bitcoin cash, you provide your address to the sender, and they can send the funds to that address. When you want to send bitcoin cash, you enter the recipient's address in your wallet and specify the amount you want to send. The transaction is then broadcasted to the network and included in a block. Once the transaction is confirmed by the network, the recipient's balance is updated with the received funds.
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• Nov 26, 2021 · 3 years ago
  Think of a bitcoin cash address as a digital mailbox for your bitcoin cash. It's like an email address, but instead of receiving messages, you receive money. When someone wants to send you bitcoin cash, they need your address. You can think of it as sharing your mailing address with someone so they can send you a package. The address is generated using cryptographic algorithms and ensures that only the owner of the address can access the funds. It's important to keep your bitcoin cash address private and secure to prevent unauthorized access to your funds.
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• Nov 26, 2021 · 3 years ago
  A bitcoin cash address is a fundamental component of the bitcoin cash network. It is generated using a combination of public and private keys. The public key is derived from the private key and is used to create the address. The private key is kept secret and is used to sign transactions, proving ownership of the funds. When you receive bitcoin cash, the sender uses your address to create a transaction that transfers the funds to your address. The transaction is then validated by miners and added to the blockchain. Once the transaction is confirmed, the funds are available in your wallet.
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