What is Bitcoin Cash?

What is Bitcoin Cash?

Bitcoin Cash (BCH) cryptocurrency, also known as Bcash, appeared on August 1, 2017, as a result of Bitcoin hard fork. All BTC owners were credited with BCH coins in a 1:1 ratio.

This is the first successful bitcoin fork, which differs from the original network with an enlarged up to 8MB block size and lack of SegWit support. The official reason for Bitcoin Cash hard fork is the inability to continue using Bitcoin as a means of payment due to expensive and long-lasting transactions. The proposed solution to the scalability problem in the form of Segwit Bcash’s team considers difficult and ineffective. In their opinion, the right way of technology development is to increase the block size. The project plans to do this regularly by updating the network as needed.

Supporters of BCH call it true Bitcoin. The mouthpiece of this movement is Roger Ver (founder of the site Bitcoin.com). In turn, most of the community has a negative attitude towards this fork, considering it a centralized cryptocurrency and disapproving the methods that Bcash is advancing.

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