Bitcoin Cash is a fork of the Bitcoin blockchain. It was formed as a result of the Bitcoin network bifurcation on August 1, 2017. This is a peer-to-peer digital currency, which has all the advantages of decentralized cryptocurrencies. Transactions of Bitcoin and Bitcoin Cash are in two separate blocks.
Bitcoin Cash addresses the main problem of Bitcoin – network scaling. Its block size was increased to 8 megabytes, which allows faster processing of transactions on the network.
Compared to Bitcoin, the development of Bitcoin Cash is completely decentralized and is carried out by several groups of independent developers. One of the main advantages of Bitcoin Cash is the lower network commission compared to Bitcoin.
Following are the major distinctive features of Bitcoin Cash:
- The block size limit is increased to 8 MB, which allows faster confirmation of transactions.
- Replay and wipeout protection mechanism implemented.
- Faster response to hashrate changes. In Bitcoin, the algorithm is adjusting difficulty every 2016 blocks.
Learn more about Bitcoin Cash.