Bitcoin Cash (BCH)
Bitcoin Cash (BCH) is a Cryptocurrency that was created on August 1, 2017, as a result of a Hard Fork from Bitcoin (BTC). The primary motivation behind the creation of Bitcoin Cash was to increase the block size limit, allowing for more transactions to be processed in each block and thereby aiming to reduce transaction fees and times.
Bitcoin Cash has a block size limit of 8 MB, compared to Bitcoin’s 1 MB at the time of the split, which allows for a higher volume of transactions. This adjustment was made to enhance the usability of the network for everyday transactions.
Examples of Bitcoin Cash use cases include:
- Microtransactions: BCH is often used for small payments due to lower transaction fees.
- P2P Payments: Users can send BCH directly to one another without intermediaries, making it suitable for peer-to-peer transactions.
- Merchant Adoption: Some online and physical retailers accept BCH as a form of payment, expanding its usability as a currency.
As of now, Bitcoin Cash is one of the top cryptocurrencies by Market Capitalization and continues to be actively traded on various Cryptocurrency exchanges.