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Bitcoin Cash (BCH)

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What is Bitcoin Cash (BCH)?

In 2017 there was a war behind the scenes of the world’s largest cryptocurrency: Bitcoin. Developers fell into a contentious debate about whether or not to increase the size of each block. The sides aligned into so-called “big blockers” vs “small blockers”. The small block crowd believed that keeping the size of Bitcoin’s blocks low, at around 1MB, would maintain the ability of anyone with a decent computer to run their own node. This approach favored the security and decentralization of the network, in exchange for scalability. Big blockers wanted to increase the block size significantly, to allow more transactions to be processed quicker. They believed this would make Bitcoin a more cash-like asset, sacrificing decentralization and security for scalability. The small block crowd won and Bitcoin continues to this day with a 1MB block size. However, a hard fork of Bitcoin was created where big blockers created their own version of the network and called it Bitcoin Cash. 

 

What makes it unique?

  • The result of a war between developers, BCH claims to be “the real Bitcoin”;

  • Spearheaded by Craig Wright, BCH aims to be a more cash-like asset;

  • At the time of the split BCH increased block sizes from 1MB to 8MB;

  • As of late 2021, BCH block size sits at 32MB;

 

Finality

The result of a bitter war between miners, developers and early adopters, BCH was the result of a hard fork of the Bitcoin source code. It has since undergone its own fork, splitting into two rival factions traditional BCH and BSV, called “Bitcoin Satoshi’s Vision”. The latter is mainly championed by Craig Wright, an early Bitcoin adopter and big block enthusiast who claims to be Satoshi Nakamoto himself. Roger Ver, along with some other BCH supporters, acquired the domain Bitcoin.com and maintains it to this day as one of the primary educational portals of the asset.

 

Sources of knowledge


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