What Are CASH ACCOUNTs, and How Do They Work in Bitcoin Cash?

Did you know that with Bitcoin Cash, it is possible to use a name and identifier as your Bitcoin Cash wallet address?

If you didn't know, this article will clarify how this works.

CASH ACCOUNTs is a process that simplifies the way a Bitcoin Cash wallet address is displayed. It is a naming system that facilitates the sharing of payment information by allowing users to use a name and identifier as the wallet address.

The user only has to choose a desired name, link it to their Bitcoin Cash wallet address, and register for free on the website. The platform then assigns an account identifier that, together, forms a simple and easy-to-memorize Bitcoin Cash address:

Example: alberdioni8406#201212

The Cash Accounts system allows users to easily share payment information, for example, in conversations via SMS or even over the phone. After all, the address is a simple form of nomenclature with a minimal margin of error.

It is practically impossible to memorize the address of a Bitcoin Cash wallet system based on hashing data because it contains many characters. However, it is possible to copy it to the clipboard and paste it to share and receive payments. By using CASH ACCOUNTs, this problem is solved.

CASH ACCOUNTs allow User A to select a suitable name and publish a transaction on-chain to obtain the wallet address identifier. The transaction must be included in the block for User A to have the name and identifier information recorded.

Thus, the user has all the necessary information available to start sharing the new, simplified address conveniently with others.

When the user obtains a CASH ACCOUNT identifier, the wallet looks up the payment information corresponding to the account. The full identifier corresponds to an account name, account number, and a dash hash.

Why Have a CASH ACCOUNT?

First, by obtaining a CASH ACCOUNT, users gain an alias that replaces the long Bitcoin Cash payment address.

It is a system designed to meet the expectations of common Bitcoin Cash users. It allows a name that is easily read and shared in chats to serve as a payment address instead of a hashing data address.

It is a decentralized, immutable, and human-readable on-chain system, enabling users to have better wallet addresses without needing to memorize the long 160-bit addresses.

Cash Accounts enhance usability through simple addresses, representing a step forward for Bitcoin Cash as a truly impactful P2P electronic cash system for the world.

The Cash Accounts system is secure, efficient, and memorable, making wallet addresses similar to Telegram usernames. It also brings identity consistency, increases reputation, and simplifies the discovery of users and organizations operating in the Bitcoin Cash ecosystem.

Bitcoin Cash Wallets That Support CASH ACCOUNTs

It should be noted that not all wallets support CASH ACCOUNTs. However, the team of developers behind the "smart" addresses is actively working to ensure more wallets include this feature.

Currently, the following wallets provide full support for CASH ACCOUNTs:

Electron Cash Wallet

Zapit_io

Badger Wallet

Crescent Cash

BCH Gallery

Others, such as Bitcoin.com, BRD, and others, still do not support Bitcoin Cash "smart addresses."

Bottom Line

CASH ACCOUNTs are clever Bitcoin Cash addresses that users can share with others without worrying about errors, as they are simple by nature.

They can be shared during phone calls, in chats, or via SMS in a safe and fast manner.

It is a DECENTRALIZED and immutable system where everything is done on-chain, ensuring addresses are easy to find. This increases the reputation of individuals with CASH ACCOUNTs and makes them easily discoverable within the Bitcoin Cash ecosystem.


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alberdioni8406Post author

I'm a Creator dedicated of producing high-quality content on a wide range of topics, including cryptocurrency, Web3, blockchain technology, global news, and GameFi. I strive to provide my followers with the latest and most relevant information in these areas. Find me also on Bastyon : https://bastyon.com/alberdioni8406

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