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Bitcoin Cash (BCH) is a cryptocurrency that was created and launched to bring decentralization back to cryptocurrency. It is the result of the 2017 Bitcoin “hard fork,” which occurs when an existing blockchain splits in two. Bitcoin Cash allows more transactions in one block than Bitcoin, which should reduce fees and transaction times.1 Learn more about Bitcoin Cash, how it differs from Bitcoin, where it is available, and whether the project was successful.
Bitcoin Cash trades on digital currency exchanges using the name Bitcoin Cash and the currency code BCH for the cryptocurrency. On March 26, 2018, OKEx removed all Bitcoin Cash trading pairs except BCH/BTC, BCH/ETH, and BCH/USDT due to “insufficient liquidity”. As of May 2018, Bitcoin Cash’s daily transaction numbers are roughly one-tenth that of Bitcoin. Coinbase listed Bitcoin Cash on December 19, 2017, and the Coinbase platform experienced price abnormalities that led to an insider trading investigation. As of August 2018, Bitcoin Cash payments are supported by payment service providers such as BitPay, Coinify, and GoCoin.
As of 2017, there were two factions of Bitcoin supporters: those who supported large blocks and those who preferred small blocks. The Bitcoin Cash faction favors using its currency as a medium of exchange for commerce, while the pro-Bitcoin faction sees Bitcoin’s primary use as a store of value.Bitcoin Cash is sometimes also referred to as Bcash.[26] Detractors of Bitcoin Cash called the cryptocurrency “Bcash”, “Btrash” or a “scam”, while its supporters claim that “it is a pure form of Bitcoin”.
Bryan Kelly, a stock analyst, compared it to a software upgrade:
Blockstream’s Samson Mow pointed out that Bitcoin Cash uses the name “Bitcoin” as a source of animosity between the Bitcoin and Bitcoin Cash camps. Emin Gün Sirer, a professor at Cornell stated that Bitcoin Cash was focused on usage and Bitcoin was “hugely” focused on stores of value.
Bitcoin Cash proposed to solve the situation by increasing the block size from 8 MB to 32 MB, which will allow more transactions to be processed per block. The average number of transactions per block on Bitcoin at the time Bitcoin Cash was designed was between 1,000 and 1,500.
Bitcoin Cash also differs from Bitcoin in another way, as it does not include Segregated Witness (SegWit), another solution designed for multiple transactions per block. SegWit only stores information or metadata about a transaction in a block. Typically, all details regarding a transaction are stored in a block.
Bitcoin Cash has also increased its block size on the blockchain throughout its history – in 2018 its block size was 8MB. In June 2022, the block size increased again to 32 MB.
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