What is Bitcoin cash? Bitcoin is a decentralized peer-to-peer electronic cash system that does not rely on any central authority like a government or financial institution,All transactions are recorded on a global public ledger called the blockchain.
Bitcoin Cash was started by bitcoin miners and developers equally concerned with the future of the cryptocurrency and its ability to scale effectively. However, these individuals had their reservations about the adoption of a segregated witness technology.
Bitcoin Cash is thus able to process transactions more quickly than the Bitcoin network, meaning that wait times are shorter and transaction processing fees tend to be lower, Despite years of decline Bitcoin cash as continue to fork off with everyone having different ideas about how bitcoin-cash should be run.
The first fork-off
Bitcoin cash experience it first split when the developer could not agree on an upgrade. Some developers backed an upgrade to the code called Bitcoin ABC while others defended a more conservative update dubbed Bitcoin Satoshi Vision (Bitcoin SV).
Some miner pools decided to adopt one of those forks while others adopted the other — and it led to a split. Well Bitcoin cash SV increase the transaction block so as to lower transaction fee, but it lost the war to Bitcoin cash Abc and Bitcoin cash Abc became the dominant form of Bitcoin-cash that we have today.
Second Fork-off
After the split that lead to the creation of Bitcoin cash Abc and Bitcoin cash SV. Another disagreement occured between the developers of Bitcoin-cash Abc, the team lead by Amulet Satchet believe that Bitcoin Cash Abc was under funded and it need to upgrade it system to include 8% taxes for miners who want to use their software for mining Bitcoin cash, these lead to another war in the camp of Bitcoin-cash Abc, with some developer like Bitcoin-cash Node believing that it not necessary and Bitcoin cash can be run by Voluntary donation. Amulet never accepted and these lead to another split of the Bitcoin-cash Block into two, Bitcoin-cash Abc and Bitcoin cash Node., Most miner have already switched to Bitcoin cash Node, these made Bitcoin cash Node the dominant Bitcoincash.
What future holds for Bitcoincash?
With the word of Bitcoin jesus, when he was interviewed by coindesk, Roger ver said that if PayPal had know that Bitcoincash would undergo another hard fork, it won't have listed it under it exchange, the future of Bitcoin-cash is still unknown, with some investors already losing faith in the project due to the uncertainty about the future of the Bitcoin-cash. With some people still believing that Bitcoincash would likely split again Into two at later times in the future.
Hard fork? What is that ?