What is Bitcoin Cash?
Bitcoin Cash (BCH) is a cryptocurrency created on August 1, 2017, when part of the Bitcoin community decided to abandon the main Bitcoin protocol. Bitcoin had problems with scalability, and according to these community members the problem can be solved simply by increasing the block size. After a long confrontation, they finally decided to create their own cryptocurrency with a block size for which the upper limit is 8 MB, unlike the original 1 MB. It assumes that an increased block size will allow more transactions to be processed.
The future of Bitcoin Cash
Bitcoin Cash has several independent development teams that create software implementations. They have already made several successful updates over the currency. Decentralized development also ensures Bitcoin Cash’s resilience to political and social instability.
Since the first fork in 2017, Bitcoin Cash developers have already updated the block size to 32 MB. There are many new and interesting projects using the Bitcoin Cash network. Thanks to a powerful roadmap, talented developers and a clear vision of what cryptocurrencies should be, the prospects for Bitcoin Cash are obviously positive.
Do I need to buy Bitcoin Cash?
Bitcoin Cash has not existed for a very long time, but has already established itself as an extremely strong cryptocurrency. This is the fourth cryptocurrency in the world in terms of market capitalization, straight after the leaders: Bitcoin, Ethereum and Ripple.
Does the price of Bitcoin Cash depend on the price of Bitcoin?
Bitcoin Cash is a completely independent cryptocurrency, so its price does not depend on the value of the original Bitcoin. However, it is important to note that bitcoin is still the dominant cryptocurrency in the world, so if it rises or falls, the vast majority of other cryptocurrencies are likely to follow its trend.