![]() ![]() ![]() Since its inception, Bitcoin Cash has experienced its own set of challenges and milestones. ![]() It received support from some in the Bitcoin community, like Roger Ver. Mining hardware manufacturer Bitmain proposed the hard fork for increasing the block size limit to allow more transactions per block, which went live on August 1, 2017, resulting in the creation of Bitcoin Cash. However, by 2016, as the popularity of Bitcoin increased, the number of transactions on its network grew, leading to slow processing times and higher fees. The fees were low and the transactions were reliable for several years. In 2009, the first Bitcoin software that powered the blockchain, went live. Satoshi Nakamoto, an anonymous creator of Bitcoin, published the coin’s whitepaper entitled “Bitcoin: A Peer-to-Peer Electronic Cash System” in 2008. Large block supporters, however, advocated for a faster solution, concerned that rising transaction fees could hinder growth. The scaling debate involved two sides: small block supporters opposed increasing block size as it could lead to blockchain centralization and vulnerability by making it harder to host full nodes. Moreover, another hard fork, which divided Bitcoin Cash into two parts, Bitcoin ABC and Bitcoin SV, took place in the fall of 2018. ![]() Bitcoin Cash is a result of a hard fork in the blockchain due to differences in the community over Bitcoin scaling and the SegWit upgrade. In 2017, BCH developers modified the BTC code, releasing their software version and a full-fledged competitive product, which split Bitcoin into two blockchains: Bitcoin and Bitcoin Cash. As a permissionless, decentralized cryptocurrency, Bitcoin Cash requires no trusted third parties.īitcoin Cash was created as an alternative to the first and most valuable cryptocurrency - Bitcoin (BTC). Bitcoin Cash (BCH) is a peer-to-peer electronic cash system that aims to become sound global money with fast payments, micro fees, privacy and larger block size. ![]()
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