Tech moves fast! Stay ahead of the curve with Techopedia!
Join nearly 200,000 subscribers who receive actionable tech insights from Techopedia.
Bitcoin Cash (BCH) is a derivative of bitcoin that hard forked off of original bitcoin in 2017. Bitcoin Cash emerged when there was no consensus on whether to increase block sizes. Some individuals wanted to increase block size and so after the hard fork, Bitcoin Cash became its own altcoin.
The Bitcoin Cash hard fork, like others, had its share of controversy. Bitcoin Cash has been backed by a controversial figure, Craig Steven Wright, who claims to have a lot of influence in crypto. Since the creation of Bitcoin Cash, the currency itself has forked again, leading to Bitcoin SV and Bitcoin ABC.
As for the intial rationale of Bitcoin Cash's fork, there are a lot of debates about the pros and cons of increasing block sizes. While increased block sizes can facilitate a larger number of transactions, it can also centralize Bitcoin mining and present other issues.
Bitcoin Cash has also been an excellent example of how crypto changes move markets. Experts can look at Bitcoin Cash and its related coins after a fork and get some real insight into mining, trader consensus, exchange positions and much more.