What is Bitcoin Cash (BCH) & how does it work?

What Is Bitcoin Cash (BCH), and How Does It Work? 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.

What is the difference between Bitcoin & Bitcoin Cash?

Bitcoin and Bitcoin Cash each hold a total supply cap of 21 million coins, which creates a parallel in their supply-and-demand market dynamic. BCH boasts 32 megabytes to Bitcoin’s 1 megabyte in block size. Bitcoin Cash processes 100 transactions per second to Bitcoin’s seven transactions per second.

What is a Bitcoin Cash Fork?

In this case, that previous network is Bitcoin, while the Bitcoin Cash fork forged its own future. The fork was decided on by various miners and developers within the Bitcoin network who were hoping to get rid of its limitations. After all, many assume Bitcoin is meant to be used for digital transactions as opposed to as a store of value.

Why did Bitcoin Cash start?

The primary impetus for creating Bitcoin Cash was to indirectly increase the transaction time by increasing block size. Bitcoin’s maximum block size is 1MB, and by most technological standards, that’s not a lot of data. Bitcoin Cash increased the block size of its network to 8MB to facilitate transactions quickly.