Background
Bitcoin Cash is a cryptocurrency that was forked from Bitcoin in August 2017. The block size of Bitcoin Cash was increased, enabling for more transactions to be completed and enhancing scalability.
In November 2018, the cryptocurrency split again, this time into Bitcoin Cash ABC and Bitcoin Cash SV (Satoshi Vision). Because it uses the original Bitcoin Cash client, Bitcoin Cash is known as Bitcoin Cash.
Getting to Know Bitcoin Cash
The difference between Bitcoin and Bitcoin Cash is logical.
Bitcoin was intended to be a peer-to-peer cryptocurrency that could be used for everyday transactions. Bitcoin became an investment instrument rather than a currency over time as it gained public support and its price surged. Because it couldn't handle the growing quantity of transactions, its blockchain fell into scalability concerns. The time it takes to complete a transaction on the bitcoin blockchain has increased, as have the costs. This was primarily due to bitcoin's 1MB block size limit. Because blocks couldn't manage the increase in transaction size, transactions were queued and awaiting confirmation.
On the other hand, Bitcoin Cash proposes to address this issue by increasing block sizes to between 8 and 32 MB, allowing for the processing of more transactions per block. At the time Bitcoin Cash was proposed, the average number of transactions per block on Bitcoin was between 1,000 and 1,500.
Quick Facts
BCH is decentralized and not backed by a bank or government
Bitcoin Cash is a “hard fork”, or branching off, of Bitcoin that eventually became its own separate Crypto due to philosophical differences about the purpose of Bitcoin.
While Bitcoin can process about 7 transactions per second, Bitcoin Cash can support more than 100 transactions per second.
What is the best way to purchase Bitcoin Cash?
Since you have got all the basics now, you might need some assistance purchasing some!
A broker exchange is the simplest way to do this. Coinbase is the most popular of these, as it is ideal for beginners. Bitcoin Cash can also be purchased with fiat currency using a credit/debit card or a bank account.
A Promising Future
Multiple distinct teams of developers are working on software implementations for Bitcoin Cash. They're already working on new features and improvements to make Bitcoin Cash the best money in the market. Bitcoin Cash's decentralized development also makes it immune to political and social attacks on the protocol's development.
Bitcoin Cash developers have already upgraded the blocksize to 32MB blocks since the separation in 2017. The Bitcoin Cash network is being used by many of the new and innovative projects. Bitcoin Cash has a bright future ahead of it, thanks to a robust roadmap, experienced developers, and a clear vision of what Bitcoin should be.