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About Bitcoin Cash
“Peer-to-peer electronic cash for the Internet”
Bitcoin Cash (BCH) is the first and most successful hard fork of the original Bitcoin that was created in August 2017 in order to put an end to the scaling debate which was going on for a couple of years. Bitcoin (BTC) and Bitcoin Cash (BTH) are very similar with regards to construct, design and roadmap, so much so that BCH shares the entire blockchain history prior to August 1st with BTC.
While BTC’s first focus is to keep Bitcoin decentralized so that it can remain public, permissionless and a highly censor-resistant network, BCH’s priorities are to enable fast, cheap payments over the network. That’s the reason why BCH forked from BTC and increased the block size to 8MB from 1MB to accommodate faster and cheaper transactions.
Bitcoin Cash has its own unique ecosystem made up of its developers and supporters who view BCH as the “real” Bitcoin. Recently, however, the BCH network experienced a hard fork which further divided the Bitcoin Cash community. From it, Bitcoin SV was created by Craig Wright and his backers over another disagreement over scaling and how large block sizes should be.
Bitcoin Cash did not have an ICO. Instead, on August of 2017 every individual who was holding BTC would also receive BCH at a 1:1 ratio due to the hard fork.
Features of BCH
Both Bitcoin and Bitcoin Cash work more or less the same way. There are, however, a few key differences. BCH has, for example:
- A block size of 8Mb has opposed to 1Mb on Bitcoin’s network.
- Does not support SegWit.
- Has no “replace by fee” feature.
- Has replay and wipeout protection.
- Quicker adjustments to the proof-of-work difficulty level.
BCH claims the original Bitcoin whitepaper as being its inspiration and considers itself to be its actual embodiment.
BCH has a versatile team of dedicated developers and supporters who contribute as well. However, the main development team is mainly led and funded by Bitmain which is the largest mining group on the Bitcoin Network, founded by Jihan Wu.
Bitcoin Cash has had a volatile market history. In January of 2018 due to a controversial Coinbase listing, BCH jumped to around $4000 which was its all-time high. However, due to bearish market conditions it has since collapsed to its current price of $139.
Social Media and Website
BCH has a very active community online which has been embroiled in controversy over their disputes with the Bitcoin Core community. Their main forum for conversation is r/btc. You can find more information on Bitcoin Cash on their official website.
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