First Things First let's define what bitcoin is all about.
What is Bitcoin? 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 was first described in a white paper written by an anonymous person who went by the name Satoshi Nakamoto in 2008.
What is Bitcoin Cash?
Bitcoin cash is a cryptocurrency created in August 2017, from a fork of Bitcoin.1 Bitcoin Cash increases the size of blocks, allowing more transactions to be processed. The cryptocurrency underwent another fork in November 2018 and split into Bitcoin Cash ABC and Bitcoin Cash SV (Satoshi Vision).2 Bitcoin Cash is referred to as Bitcoin Cash because it uses the original Bitcoin Cash client.
Bitcoin Cash believes larger transaction blocks will solve the scaling problem. When more transactions fit into one block, transactions will be processed faster. The block size of bitcoin is 1MB, bitcoin cash initially increased the block size to 8MB. But since May 15, 2018, the block size has increased more so. The current block size is 32MB. This is the biggest fundamental difference between Bitcoin and Bitcoin Cash.
Bitcoin sees SegWit as the solution. SegWit is a method to separate the signature information from the transaction block. As a result, the space of the transaction blocks is distributed more efficiently, therefore more transactions fit in one block. SegWit also clears the way for applications such as the Lightning Network and Atomic Swaps.
KEY TAKEAWAYS
I. Bitcoin is limited by transaction processing time, an issue which has caused rifts between factions within the bitcoin mining and developing communities.
II. Bitcoin Cash was started by bitcoin miners and developers concerned about the future of the bitcoin cryptocurrency, and its ability to scale effectively.
III. While bitcoin blocks are limited to 1 MB, BCH blocks are 8 MB.
Reference1:https://www.investopedia.com/terms/b/bitcoin-cash.asp
Reference2:https://www.bitcoin.com/get-started/what-is-bitcoin-cash/
Reference 3:https://btcdirect.eu/en-gb/about-bitcoin-cash