Bitcoin Cash

What is Bitcoin Cash?

Bitcoin Cash (BCH) is a hard fork of bitcoin. It’s an electronic cash platform that allows peer-to-peer online cash payments to be made without the clearance of a clearinghouse. One of the most pressing issues for bitcoin has always been its scalability; the size of a block of transactions was limited to one MB. Bitcoin Cash was initiated to increase this block size.

The goal of Bitcoin Cash

Bitcoin cash is very similar to bitcoin and also used as a payment system. Bitcoin Cash allows faster transaction times and lower transaction fees; it enabled the increase of the block size from one MB to eight MB. Its overall goal is to increase the number of transactions that can be processed by the network.

Who started Bitcoin Cash

Bitcoin Cash was officially released in August 2017, as a result of a discussion about the scalability of Bitcoin; the community had some concerns about Bitcoin’s ability to process the large number of transactions on the Bitcoin network. Looking for a solution, the community was divided into two groups. Unable to find a compromise, a hard fork was implemented, and Bitcoin Cash was created.