- Bitcoin Cash (BCH) is a cryptocurrency that (BCH)
Since it is one of the earliest and most popular hard forks of the original Bitcoin, Bitcoin Cash (BCH) holds a significant position in the history of altcoins. A fork occurs in the cryptocurrency environment as a result of disagreements and debates between developers and miners. Because of the decentralized existence of digital currencies, wholesale adjustments to the code underlying the token or coin in question need consensus; the mechanism for this process differs by cryptocurrency.
When various sides can’t agree, the digital currency is split. The original chain holds to its original code, and the new chain starting as a new version of the previous coin, complete with code changes.
As a result of one of these breaks, BCH was born in August of 2017. The debate that led to the development of BCH revolved around scalability; the Bitcoin network has a block size limit of one megabyte (MB).
The block size in BCH has been increased from one MB to eight MB, with the expectation that larger blocks will accommodate more transactions and thereby increase transaction speed. Other improvements include the elimination of the Segregated Witness protocol, which affects block space. BCH had a market cap of $8.9 billion and a token value of $513.45 in January 2021.