Bitcoin Cash (BCH) is an altcoin version of the popular cryptocurrency Bitcoin. Bitcoin Cash is the result of a hard fork in blockchain technology. One of the most significant changes from Bitcoin to Bitcoin Cash is the size of the coin. Previously, Bitcoin’s 1MB limit caused transaction delays, so Bitcoin Cash increased the potential block size to allow more transactions and help scale cryptocurrencies as they grew and competed with more traditional cryptocurrency platforms.
After its inception, Bitcoin Cash quickly became the 3rd most successful cryptocurrency, after Bitcoin and Ethereum. Although Bitcoin Cash has a higher transaction speed, the currency is not accepted in as many places as Bitcoin or Ethereum, and disagreements in the developer community have caused Bitcoin Cash to be promoted as an investment tool rather than a transaction currency.
In November 2018, Bitcoin Cash developers decided that another hard fork was necessary, and Bitcoin Cash split into two parts. Forking is often the result of a deadlock in an open-source project that is so insurmountable that all work stops. This usually occurs when development team members are unable to resolve personal conflicts or fail to reach a consensus on the next steps.
In this particular fork, one group of developers felt that the block size should be limited to 32MB. A second group submitted a competing version of the software that increased the block size to 128MB. At the time of writing, the two Bitcoin Cash forks are commonly referred to as Bitcoin ABC (Bitcoin Adjustable Blocksize Cap) and Bitcoin SV (Satoshi’s Vision).
Bitcoin Cash trades on digital currency exchanges including Unocoin, Bitstamp, Coinbase, Bitfinnex, etc
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Disclaimer: Crypto products are unregulated as of this date in India. They could be highly volatile. At Unocoin, we understand that there is a need to protect consumer interests as this form of trading and investment has risks that consumers may not be aware of. To ensure that consumers who deal in crypto products are not misled, they are advised to DYOR (Do Your Own Research).
