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A DETAILED DESCRIPTION OF BCH Bitcoin Cash
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BCH Bitcoin Cash
Bitcoin Cash (BCH) Is a hard fork of the Bitcoin network that has caused quite a stir in the cryptocurrency space. The fork, which began to receive attention from many in July 2017, was supported by the likes of Roger Ver, who believed that an increase in the block size limit was necessary. Until then, the crypto community was united in their vision of how Bitcoin should develop. Bitcoin, however, chose to take the SegWit route, which increased the number of transactions that could be processed without increasing the block size. The hard fork occurred on August 1 and BCH was officially live. Users who owned bitcoins owned the same number of Bitcoin Cash tokens.
Bitcoin Cash has received much criticism regarding its approach to scalability, as well as for the fact that larger blocks require greater computing to be processed, which could lead to a handful of individuals or groups having more influence on the network. The approach to scalability remains the most significant difference between BCH and Bitcoin, and has been the subject of much discussion. Bitcoin Cash and Bitcoin are identical in terms of their use case; it is the technicals that differentiate them.
Despite the controversy surrounding its creation and current development, Bitcoin Cash continues to command a lot of attention from investors and developers. While it takes it own approach to scalability, its overarching vision also holds “extensibility” as a key priority, the team’s way of describing the idea of allowing developers and businesses to easily build on the protocol.
Bitcoin Cash has received much criticism regarding its approach to scalability, as well as for the fact that larger blocks require greater computing to be processed, which could lead to a handful of individuals or groups having more influence on the network. The approach to scalability remains the most significant difference between BCH and Bitcoin, and has been the subject of much discussion. Bitcoin Cash and Bitcoin are identical in terms of their use case; it is the technicals that differentiate them.
Despite the controversy surrounding its creation and current development, Bitcoin Cash continues to command a lot of attention from investors and developers. While it takes it own approach to scalability, its overarching vision also holds “extensibility” as a key priority, the team’s way of describing the idea of allowing developers and businesses to easily build on the protocol.
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