Bitcoin Cash Payment works through blockchain technology to facilitate peer-to-peer transactions without the involvement of a central authority.
The process begins when the sender initiates a transaction by entering the recipient’s wallet address and the amount of Bitcoin Cash to send. Once the details are confirmed, the transaction is broadcasted to the Bitcoin Cash network, where it is picked up by miners.
These miners verify the transaction by solving a complex cryptographic puzzle and adding the transaction to a block on the blockchain. The first miner to solve the puzzle is rewarded with newly minted BCH and transaction fees.
After the transaction is included in the blockchain, it is confirmed, although additional confirmations are often needed to ensure the security of the transaction. Once confirmed, the recipient receives the Bitcoin Cash in their wallet and can use the funds for future transactions.