What is Bitcoin Cash?
Bitcoin Cash (BCH) is the result of a hard fork of the Bitcoin network in August 2017. The split was caused by a scaling dispute: BCH supporters believed cryptocurrency should primarily function as a low-fee payment method rather than solely a store of value.
How It Works
Technically, BCH mirrors Bitcoin's architecture: Proof-of-Work mining, 21 million coin supply cap, and halving events. The key difference is an increased block size, allowing more transactions to be processed and keeping fees at fractions of a cent even under load.
Pros and Cons
- Pros: low fees, suitability for retail payments, familiar proven technology.
- Cons: notably lower network security due to reduced mining power, weaker network effects and brand recognition than Bitcoin, high volatility.