Bitcoin Cash
Bitcoin Cash is Bitcoin's hard fork, addressing on-chain capacity issues through a protocol upgrade.Bitcoin Cash aims to become the Bitcoin, without adopting Segregated Witness (SegWit) as a soft fork. Its protocol upgrade is primarily completed through a hard fork and does not change Bitcoin's original economic rules.Bitcoin Cash (BCH) was released on 1st August 2017 as an upgraded version of the original Bitcoin Core software. The main upgrade was raising the block-size limit from 1MB to 8MB. Compared with Bitcoin, this effectively enabled miners on the BCH blockchain to process up to 8 times as many payment transactions per second. This resulted in faster, cheaper transactions and a smoother user experience. Why was Bitcoin Cash？ Bitcoin Cash created? Its primary objective was to restore the fundamental monetary properties inherent in the original Bitcoin software. Over the years, these properties were removed from Bitcoin Core, while various individuals, organizations, and companies involved in developing the Bitcoin protocol obstructed progress. As a result,Bitcoin Core is currently unusable as a currency because transaction fees are increasingly high and transfers take hours. This is all due to the 1MB block-size limit of Bitcoin Core, which prevents it from accommodating a large number of transactions. Essentially,Bitcoin Cash is a community-activated upgrade of Bitcoin(also known as a hard fork) that increased the block size to 8MB, resolving the scaling issues now affecting Bitcoin Core. Nov 16th 2018: A hashrate war caused Bitcoin SV and Bitcoin ABC to split.
Overview
Bitcoin Cash is Bitcoin's hard fork, addressing on-chain capacity issues through a protocol upgrade.Bitcoin Cash aims to become the Bitcoin, without adopting Segregated Witness (SegWit) as a soft fork. Its protocol upgrade is primarily completed through a hard fork and does not change Bitcoin's original economic rules.Bitcoin Cash (BCH) was released on 1st August 2017 as an upgraded version of the original Bitcoin Core software. The main upgrade was raising the block-size limit from 1MB to 8MB. Compared with Bitcoin, this effectively enabled miners on the BCH blockchain to process up to 8 times as many payment transactions per second. This resulted in faster, cheaper transactions and a smoother user experience. Why was Bitcoin Cash？ Bitcoin Cash created? Its primary objective was to restore the fundamental monetary properties inherent in the original Bitcoin software. Over the years, these properties were removed from Bitcoin Core, while various individuals, organizations, and companies involved in developing the Bitcoin protocol obstructed progress. As a result,Bitcoin Core is currently unusable as a currency because transaction fees are increasingly high and transfers take hours. This is all due to the 1MB block-size limit of Bitcoin Core, which prevents it from accommodating a large number of transactions. Essentially,Bitcoin Cash is a community-activated upgrade of Bitcoin(also known as a hard fork) that increased the block size to 8MB, resolving the scaling issues now affecting Bitcoin Core. Nov 16th 2018: A hashrate war caused Bitcoin SV and Bitcoin ABC to split.