When Bitcoin first emerged in 2009, it was little more than a...
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Bitcoin Cash (BCH) is a cryptocurrency that was created in August 2017 as a result of a hard fork of the original Bitcoin blockchain. It was created by a group of developers and users who wanted to increase the block size limit of the Bitcoin network from 1 MB to 8 MB in order to improve transaction speed and reduce fees.
Bitcoin Cash shares many of the same characteristics as Bitcoin, including a decentralized and trustless network, a limited supply of coins (21 million), and the ability to be used as a medium of exchange or store of value. However, it differs from Bitcoin in several key ways, including its larger block size limit, its different hashing algorithm, and its use of a different address format.
One of the primary goals of Bitcoin Cash is to provide a cryptocurrency that is more suitable for everyday transactions, particularly for small payments. By increasing the block size limit, Bitcoin Cash is able to process more transactions per second than Bitcoin, which can help to reduce network congestion and lower transaction fees.
Bitcoin Cash has its own community of developers and users, and is supported by a number of exchanges and wallets. However, it remains controversial within the wider cryptocurrency community, with some critics arguing that it represents a centralized and less secure version of Bitcoin.
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