Bitcoin Cash appeared on August 1, 2017 as a result of the separation of the bitcoin network into two chains. The aim of a new version of Bitcoin is to speed up the process of transactions on the network: Bitcoin Cash block size is 1.915 MB, which is almost twice the block size in the source chain.
On its second day of trading it has tripled in price and is now third in market capitalization among digital currencies.
During the split every owner of bitcoin was entitled to receive Bitcoin Cash on a one-for-one ratio for free. The protocol update was supported by the majority of members of the bitcoin community, as well as some exchanges. The presence of two different bitcoins should not be a problem for private investors. Given that Bitcoin and Bitcoin Cash have different characteristics, their price will start moving independently quickly.
Currencies are united by a common history: up to a certain block both chains were identical, but now Bitcoin Cash is a new digital asset. All the owners of bitcoins, who kept them in wallets and exchanges that supported the division, received new coins in the ratio 1: 1. Bitcoin Cash has a larger block size than bitcoin without the SegWit protocol. This allows to conduct more transactions on the network, which, respectively, leads to lower fees for the operation.
Bitcoin Cash brings sound money to the world, fulfilling the original promise of Bitcoin as "Peer-to-Peer Electronic Cash". Merchants and users are empowered with low fees and reliable confirmations. The future shines brightly with unrestricted growth, global adoption, permissionless innovation, and decentralized development.
All Bitcoin holders as of block 478558 are also owners of Bitcoin Cash. All are welcome to join the Bitcoin Cash community as we move forward in creating sound money accessible to the whole world.
There was no community consensus about the split and not all crypto exchanges have recognized the "clone" of bitcoin. Some believe that creation of Bitcoin Cash will accelerate the process of scaling technology, while others think that the separation of bitcoins creates unnecessary confusion and damages the reputation of BTC. Which of the bitcoins (BTC or Bitcoin Cash or Bitcoin Gold) is better for investor? There is no answer to that question as each of these cryptocurrencies has its own “for” and “against”. While for many Bitcoin is the biggest brand name, it may still be a good tactics to invest in its forks as a hedge.
* Forex Rating accepts no liability for any errors in the Bitcoin Cash Price or BCH Information. For the most recent information please visit the Bitcoin Cash official site.
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