Bitcoin Cash

Bitcoin Cash is a peer-to-peer electronic cash system characterized by fast payments, low transaction fees, privacy, and high transaction capacity (large blocks). It is no coincidence that Bitcoin Cash includes “Bitcoin” in its name. BTC is a fork of Bitcoin created on August 1, 2017, by a group of developers aiming to increase the size of the BTC block. Bitcoin Cash aims to be useful to users for everyday transfers, which is why it offers fast payments, very low fees, privacy, and high transaction capacity thanks to large blocks.

Bitcoin Cash (BCH) holds an important place in the history of altcoins, as it is one of the earliest and most successful hard forks of the original Bitcoin. Due to the decentralized nature of digital currencies, major changes to the code underlying the token must be made by general consensus. When developers and miners cannot agree, sometimes the digital currency splits, with the original chain remaining faithful to its original code, while the new chain begins as a new version of the previous coin, supplemented with changes to its code.

BCH began its life in August 2017 as a result of one of these forks. The debate that led to the creation of BCH was related to the issue of scalability; the Bitcoin network has a block size limit: one megabyte (MB). BCH increases the block size from one MB to eight MB, with the idea being that larger blocks can contain more transactions, thereby increasing transaction speed. It also makes other changes, including the removal of the Segregated Witness protocol, which affects the blockchain.