Bitcoin Cash: A popular Cryptocurrency

Bitcoin Cash: A popular Cryptocurrency

Bitcoin Cash is a cryptocurrency that is a Bitcoin fork. Bitcoin Cash is a cryptocurrency that was created in 2017 as a spin-off or altcoin.

General

Bitcoin Cash (BCH) was further divided into two cryptocurrencies in November 2018: BCHand Bitcoin SV.

Bitcoin users have followed a set of rules for the cryptocurrency since its inception. On July 21, 2017, bitcoin miners approved Bitcoin Improvement Proposal (BIP) 91, which meant that the Segregated Witness upgrade would be activated at block 477,120. Segwit would, controversially, enable second layer bitcoin solutions such as the Lightning Network. The operation of nodes was a major point of contention among Bitcoin users. Bitcoin supporters wanted to keep blocks small so that nodes could be operated with fewer resources, whereas some large block supporters believe that (due to large block sizes), nodes should only be run by universities, private companies, and nonprofits. At a conference that month, the first implementation of the software was proposed under the name Bitcoin ABC. ViaBTC, a mining pool, proposed the name Bitcoin Cash in July 2017. In July 2017, Roger Ver and others stated that they believed that implementing BIP 91 (which would later activate SegWit) favored people who wanted to treat bitcoin as a digital investment rather than a transactional currency. On August 1, 2017, the fork that resulted in Bitcoin Cash went into effect.

The technical difference between BCH and Bitcoin is that Bitcoin Cash allows larger blocks in its blockchain than Bitcoin, allowing it to process more transactions per second in theory. Bitcoin Cash was the first of the Bitcoin forks, in which software development teams modified the original Bitcoin computer code and released coins with the word “Bitcoin” in their names, with the stated goal of “creating money out of thin air.”

Where can you spend Bitcoin Cash online?

The Accept Bitcoin Cash initiative is a community-curated list of merchants that accept BCH, a peer-to-peer electronic cash system. Link