B
itcoin Cash (BCH) is a decentralized digital currency that was created in 2017 as a result of a hard fork of the Bitcoin (BTC) blockchain. A hard fork is a significant change to a blockchain's protocol that creates a new blockchain with separate rules and features from the original blockchain. The hard fork was created in response to the scaling debate within the Bitcoin community, which involved disagreement on how to increase the network's capacity to handle more transactions. Bitcoin Cash was created with the intention of addressing the scaling issues that Bitcoin was facing.
Bitcoin Cash has a similar design and architecture to Bitcoin, as it is based on the same open-source code and uses a consensus mechanism based on proof-of-work mining. However, Bitcoin Cash has several distinct features that differentiate it from Bitcoin, including a larger block size limit of 32 MB (compared to Bitcoin's 1 MB limit) and a different difficulty adjustment algorithm.
The larger block size limit enables Bitcoin Cash to handle more transactions per second than Bitcoin. Additionally, Bitcoin Cash has lower transaction fees and faster confirmation times than Bitcoin due to its larger block size limit.
Bitcoin Cash is often seen as a currency that is more suitable for everyday use compared to Bitcoin. It is accepted by a growing number of merchants and can be used for online purchases, remittances, and peer-to-peer transactions.
Overall, Bitcoin Cash aims to provide a fast, low-cost, and reliable cryptocurrency that can be used for day-to-day transactions. While it shares similarities with Bitcoin, it has a distinct identity and set of features that make it an attractive alternative for individuals and businesses alike.