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Current status of SegWit2x and Bitcoin cache
What is Bitcoin Cash?
Bitcoin Cash emerged as an alternative to Bitcoin, and is currently one of the third and second most valuable cryptocurrencies in the world by market cap, after Bitcoin and Ethereum. The founder of Bitcoin Cash created Alternative Cryptocurrency on August 1, 2017 to address the annual time of transactions and the increase in fees on the original Bitcoin network. Bitcoin cash increases the amount of transactions that can be processed per block.
In this "What is Bitcoin Cash" guide, we will discuss the history of Bitcoin Cash, its current status, and how to compare it with the original Bitcoin.
Problem: Why create bitcoin cash?
It's no secret that Bitcoin has a scaling problem.
As the currency has gained popularity, so have the number of transactions performed on the networks, and Bitcoin is currently pushing the limits of its software.
The main problem is that Bitcoin imposes a hard limit on the size of a block, where the transfer information is stored. Currently, Bitcoin blockchain blocks are limited to 1 MB.

Transactions on Bitcoin over time
Why limit the number of processed transactions on the Bitcoin network?
Well, using a controversial interpretation of Bitcoin, every user on the network must download and keep a copy of the entire history of Bitcoin transactions. Allowing unlimited transactions means that the account will grow exponentially and ordinary users will not have to have computing storage or bandwidth to use the network.
If unlimited transactions are allowed, Bitcoin will become the domain of a few centralized organizations with enough processing power to handle thousands of new transactions every second.
Bitcoin has been created to avoid centralized institutions, it is not an interesting option.
The 1 megabyte limit of block size in the current position means that the transaction lease does not get too big too quickly. New users can easily join Bitcoin by downloading the transaction history. However, this block limit also means that there is more demand for transactions in which block locations can be compared with all of them.
As a result, Bitcoin mining fees are being charged and included to prioritize your transactions. If you decide not to pay the fee in November 2015, it will take more than 2 hours to fully confirm your transaction.
These fees and confirmation times also seem to be the opposite of the money for the democratization of Bitcoin.With Fiat Transfer, you pay a fee from a bank. For Bitcoin, the payment of fees from mining does not seem much different, although the fees are variable and generally lower than a bank transfer.
The founders and community of Bitcoin Cash believe that a block size limit is required, but the 1MB limit is unique. Instead, they offer a system of 8 MB block size, but it is still reasonable for new users to download but not enough that the new system can hold the number of transactions per second many times as the original Bitcoin blockchain!
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