Launching in 2017, Bitcoin Cash was created by a group of Bitcoin users who disagreed with the roadmap proposed by the project’s principal developer group, Bitcoin Core, and who believed different technical decisions were needed to bring Bitcoin to a global audience.
A purely peer to peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution. Digital signatures provide part of the solution, but the main
benefits are lost if a trusted third party is still required to prevent double-spending.
We propose a solution to the double-spending problem using a peer-to-peer network.
The network timestamps transactions by hashing them into an ongoing chain of
hash-based proof-of-work, forming a record that cannot be changed without redoing
Bitcoin Cash (BCH) is a cryptocurrency that intends to offer an alternative to the world’s oldest and most widely traded cryptocurrency, Bitcoin (BTC).
Bitcoin Cash proponents tended to believe Bitcoin required modifications to make it competitive with traditional payment systems like Visa and PayPal. They also advocated for lowering the fees users pay to send transactions, preferring to shift these costs to other parts of the network.
Toward this goal, Bitcoin Cash modified Bitcoin’s code and released a new software version with features that were no longer compatible with Bitcoin. At launch, this effectively split Bitcoin into two blockchains (Bitcoin and Bitcoin Cash) and two separate assets (BTC and BCH).
This meant any user who owned BTC could claim an equal balance of BCH at the time the two blockchains separated.
Bitcoin Cash has also since borrowed features from other cryptocurrencies, including functionality that enables users to launch new types of tokens on its blockchain.
The Official Website Of This Currency: https://bch.info/