Bitcoin Cash

Bitcoin Cash (BCH) is a cryptocurrency that was created and launched to bring decentralization back to cryptocurrency. It is the result of a 2017 Bitcoin “hard fork,” which occurs when an existing blockchain splits into two. Bitcoin Cash allows a greater number of transactions in a single block than Bitcoin, which should lower fees and transaction times. Learn more about Bitcoin Cash, how it differs from Bitcoin, where it’s available, and if the project has been successful.

Bitcoin Cash is a cryptocurrency, created from a hard fork from the Bitcoin blockchain in 2017. A hard fork is when a blockchain splits, with no compatibility between the two forks. This is a radical change to a network’s protocol that makes previously invalid blocks and transactions valid, or vice versa. A hard fork requires all nodes or users to upgrade to the latest version of the protocol software.

Bitcoin Cash is designed to be used as a cheap payment system, much in the way Bitcoin was designed to be originally. Transactions fees are generally less than $.01, and transaction confirmation times are significantly less than Bitcoin’s, generally within seconds.

Bitcoin Cash was created and is maintained by an active community of developers. These developers still see Bitcoin Cash as a necessary alternative to Bitcoin, because in their view, Bitcoin has become more of an investment instrument than a payment system. It was designed as a peer-to-peer payment system that removes regulatory authorities and other third parties from financial transactions.

Bitcoin Cash operates on Bitcoin Cash Node, which is an ecosystem that enables users to transact in Bitcoin Cash. Bitcoin Cash Node is the blockchain for Bitcoin Cash, and can be thought of as the virtual machine that runs the network, powering transactions. Bitcoin Cash was created in 2017 when developers disagreed on the route Bitcoin should take to address emerging issues with the blockchain. Transaction fees, paid to the miners for doing the work as an incentive for more people to become miners, had continued to rise between 2009 and 2016. In December 2017, fees had risen to nearly $.03 per transaction. By June 2017, fees hit $5.56 before dropping again in July and fluctuating through the rest of the year to skyrocket to $54.64 in December of that year.

Typically, a hard fork takes place when groups of miners and developers can’t agree on updates to the software governing a particular digital token.

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