Bitcoin (BTC), the granddaddy of all the cryptocurrencies, was the pioneer for the crypto industry. A decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries, Bitcoin was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto.
Since it’s launch in 2009, the rise of Bitcoin with it’s value peaking in December 2017 at around $20,000, has paved the way for a multitude of other altcoins.
One of which is Bitcoin Cash.
What is Bitcoin Cash (BCH)?
Bitcoin Cash, sometimes referred to as Bcash, is a cryptocurrency that is a fork of Bitcoin that was created in 2017. In 2018 Bitcoin Cash subsequently split into two cryptocurrencies: Bitcoin Cash, and Bitcoin SV.
The fork (or split) came about and Bitcoin Cash came into being because unhappy Bitcoin miners wanted to overcome issues Bitcoin was facing at the time – most notably scalability and speed issues. There was also a general disgruntlement about the introduction of SegWit2x which raised numerous transparency and decentralized concerns.
So, Bitcoin Cash (BCH) was born, designed for a quicker and cheaper transaction, it utilized a larger block size and at the time, offered transactions at 80% of the cost of regular Bitcoin (BTC)
BCH Has its Own Fork
Following the fork of Bitcoin and the creation of Bitcoin Cash, in November 2018, the Bitcoin Cash network experienced its own hard fork, resulting in the creation of yet another derivation of bitcoin called Bitcoin SV.
Bitcoin vs Bitcoin Cash
Although the two were once related and share a similar name, when discussing Bitcoin vs Bitcoin Cash, it is important to note that the two are entirely separate.
Bitcoin cash, because of the increased block size (8mb) can offer a more accelerated processing time and faster transactions, but as with larger block sizes, security is more vulnerable than in the Bitcoin network.
Also, Bitcoin remains the largest and most popular of all the cryptocurrencies, BCH users may experience more liquidity and real-world usability issues than they do with Bitcoin.
