Bitcoin Cash (BCH)

About Bitcoin Cash

Bitcoin Cash is a hard fork of Bitcoin that occurred on August 1, 2017, with the primary upgrade being an increase in the block size limit from 1MB to 8MB. This change aims to improve transaction capacity, allowing for faster and cheaper payments compared to Bitcoin. The project intends to restore the original qualities of money envisioned in Bitcoin, which it argues were lost in Bitcoin Core due to scaling limitations. Bitcoin Cash uses a proof-of-work consensus mechanism with the SHA-256 hashing algorithm. A subsequent hard fork on November 16, 2018, led to the creation of Bitcoin SV.

Consensus

proof-of-work

Token standard

native

Algorithm

SHA-256

• Bitcoin Cash was created as a hard fork of Bitcoin on August 1, 2017.
• The block size limit was increased from 1MB to 8MB, allowing up to 8 times more transactions per second.
• Bitcoin Cash aims to be a version of Bitcoin without Segregated Witness (SegWit).
• A hash war on November 16, 2018, resulted in a split between Bitcoin Cash and Bitcoin SV.
• Bitcoin Cash is categorized as a Smart Contract Platform, Layer 1, and Bitcoin Fork.

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