Bitcoin Cash is a cryptocurrency that forked off the Bitcoin blockchain in August of 2017. This means that anyone who held BTC at the time of the fork received an equal amount of BCH.
In short, the reason for the fork was that the Bitcoin community split in two camps who had very different ideas on how to ensure that the Bitcoin network is sufficiently scalable.
Bitcoin Cash differs from Bitcoin in a few key ways, but one of the most prominent is its block size limit. The debate that led to Bitcoin’s hard fork in 2017 hinged largely on this issue.
Key Bitcoin Cash features:
Bitcoin Cash was created in 2017 when the Bitcoin blockchain forked.
While Bitcoin and Ethereum both work to solve the same problem, they go about it in different ways.
Uses a mechanism that requires work to be done in order to prove consensus.
Bitcoin Cash has a maximum block size of 32 megabytes, while Bitcoin’s max is only one megabyte. Consequently, more trades can be processed per second with Bitcoin Cash; however, the flip side is that it costs more to maintain a full node for BCH than BTC.
Many people who support Bitcoin Cash say that it is fulfilling Satoshi Nakamoto’s original vision of a peer-to-peer electronic cash system. In general, the Bitcoin Cash community tends to emphasize the cryptocurrency’s role as a medium of exchange more than the Bitcoin community does.
Although it is not as large as Bitcoin, Bitcoin Cash has become one of the leading cryptocurrencies by market capitalization. In addition, BCH is listed on most major cryptocurrency exchanges and can be stored in several popular cryptocurrency wallets.
In 2018, Bitcoin Cash hard forked and created Bitcoin SV.