Bitcoin Cash (BCH) is a cryptocurrency that was created as a result of a hard fork of the Bitcoin blockchain in 2017. The hard fork was the result of a long-standing debate within the Bitcoin community about how to scale the network to meet increasing demand.
One of the main points of contention was the size of Bitcoin’s blocks, which are used to store transaction data on the blockchain. Some members of the community felt that the block size should be increased in order to allow for more transactions to be processed per block, while others believed that the block size should be kept small in order to maintain the decentralization of the network.
The group that supported increasing the block size eventually decided to create a new cryptocurrency, Bitcoin Cash, that would have larger block sizes and a different set of rules than Bitcoin. The new cryptocurrency was launched on August 1, 2017, and its block size was increased to 8 megabytes, compared to the 1-megabyte block size of Bitcoin.
One of the main differences between Bitcoin and Bitcoin Cash is the block size and the number of transactions that can be processed per second. Because it has a larger block size, Bitcoin Cash is able to process more transactions per block and has a higher transaction throughput compared to Bitcoin. This has made it more attractive for use in day-to-day transactions and has contributed to its popularity.
In addition to its larger block size, Bitcoin Cash also has a few other differences compared to Bitcoin. These include the use of a different proof-of-work algorithm and the inclusion of a few additional features, such as support for smart contracts and increased security.
Overall, Bitcoin Cash is a cryptocurrency that was created as a result of a hard fork of the Bitcoin blockchain in order to address the scalability issues of Bitcoin. Its larger block size and additional features make it a popular choice for use in day-to-day transactions and have contributed to its growing adoption.
