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Author: Admin | 2025-04-28
Key TakeawaysBitcoin Cash was created through a hard fork to address Bitcoin’s scalability issues in 2017.Bitcoin Cash offers faster, cheaper transactions by increasing the block size to 32MB.Bitcoin Cash is positioned as a practical, peer-to-peer digital currency for everyday use.Despite its advantages, Bitcoin Cash faces competition and adoption challenges from other scalable cryptocurrencies.On Aug. 1, 2017, Bitcoin Cash was created through a hard fork that resulted from a long-standing debate within the Bitcoin community over how to scale the network effectively. Bitcoin Cash was created by a group of developers and prominent figures, including Roger Ver and Bitmain, a major Chinese mining company led by Jihan Wu. It sought to address Bitcoin’s scalability issues by increasing the block size.In August of 2017, two camps emerged:Big Blockers (supporters of larger block sizes) proposed increasing the block size to accommodate more transactions.Small Blockers favored optimizing the transaction process without increasing block size to preserve Bitcoin’s decentralization.Bitcoin Cash (BCH) ExplainedBitcoin Cash (BCH) was created by the “Big Blockers” camp, which believed that Bitcoin’s 1MB block size was insufficient for global adoption as a peer-to-peer payment system.On Aug. 1, 2017, Bitcoin Cash was created through a hard fork, meaning a split from Bitcoin’s blockchain, which allowed for an increased block size of 8MB at its inception (now 32MB) to accommodate more transactions per block.The primary vision behind BCH was to stay true to the idea of Bitcoin as “peer-to-peer electronic cash.” The larger block size meant faster transactions with lower fees, aiming to make Bitcoin Cash a practical currency for everyday use.Key Differences Between Bitcoin (BTC) and Bitcoin Cash (BCH)Block Size LimitBitcoin’s block size is capped at 1MB, while Bitcoin Cash’s is 32 MB. The increased block size allows BCH to handle more transactions per second, reducing congestion and fees.Transaction Fees and SpeedBitcoin transactions
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