BCH (Bitcoin Cash)

Updated · 25 November 2021 · 11:02 AM

Project basic information

Issue Time:2017-08-01

Total Supply:21,000,000

Circulation :18,908,225

White paper: https://bitcoin.org/bitcoin.pdf


Block Explorer: https://blockchair.com/

Project Introduction

Bitcoin Cash (BCH) was launched in August 2017 as a result of the Bitcoin (BTC) blockchain hard fork. A hard fork is, in fact, a blockchain divided into two parts, each of which becomes its own cryptocurrency with its own unique blockchain.

Unlike a soft fork, which is an update of the blockchain, where only one of the separable parts of the blockchain remains valid. Thus, when the fork happens, anyone who holds BTC will receive the same amount of BCH.

The formation of BCH occurred as a result of disagreements within the BTC community. Groups of BTC miners and developers were concerned about its scalability, and they were not sure about the blockchain's plans to adopt segregated witness (SegWit) technology.

These groups believed that although it was necessary (with the increasing size of the BTC network, the blockchain could barely cope with the increased transaction volumes), this proposed update did not correspond to the decentralized philosophy of Satoshi Nakamoto. As a result, they agreed that the only way to overcome the scalability problem is to increase the maximum block size.

Therefore, a hard fork was proposed in which the BTC blockchain will be divided into two parts. One of them will process more transactions at a faster rate than BTC. That's how BCH appeared.

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