Bitcoin Cash (BCH) Crypto Coin

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Both Bitcoin Cash and Bitcoin are different Crypto Coins, where the symbol of Bitcoin Cash is BCH and the symbol of Bitcoin is BTC. Bitcoin Cash has been created by upgrading the blockchain of Bitcoin itself, which is known as Forks in the crypto world. Therefore, Bitcoin Cash is a coin made from the fork of Bitcoin. To understand it more simply, the way we update our Smartphone's apps to add new features. In the same way, different functionalities are added to the blockchain from time to time to make the transactions on the blockchain low cost, efficient and fast through the update and then if there is a difference of opinion about this update in the community of that Crypto Coin. If yes, then from there the blockchain splits into two parts. Now the people who were in support of that feature, those people will come towards the new blockchain and those who were against that feature, they will stay with the old blockchain pattern. In this case, a blockchain will have two parts. The new updated blockchain is called a fork of the original blockchain. Bitcoin Cash (BCH) is also a fork of the Bitcoin Blockchain created in 2017. Although there are more than 100 forks of Bitcoin, but Bitcoin Cash is the most popular and successful among them.

Now the question is, why did Bitcoin Cash need to be created? When Bitcoin's blockchain was created in 2009, the size of a block used to be 100 KB and at that time the average transaction fee was about 2 cents and the block of Bitcoin was also not as secure as it is today. Then gradually new updates kept happening and in 2015 the size of a block was increased to 500 KB and then in a few days the size of a block was reduced to one MB but in 2017 when there was a need to increase the size of a block further. So the bitcoin community split into two. Some people were in favor of increasing the block size and some people were against it. There was so much difference in things that this period is called civil war in the crypto world. The decision of that civil war came that we will not increase the block size of Bitcoin, its size will remain only one MB. But the change we want to make will be launched as a new Crypto Coin. Then a new Crypto Coin was launched which was named Bitcoin Unlimited and its block size was increased, but within a few days Bitcoin Unlimited got hacked and it started facing a lot of problems, so in August 2017 Bitcoin Community and Bitmain Developers increased its block size once again and launched a new Crypto Coin which was named Bitcoin Cash.

The size of Bitcoin is limited to one MB. Its transaction cost is also high and speed is also low but when Bitcoin Cash was launched in 2017, the block size of Bitcoin Cash was made 8 times the block size of Bitcoin i.e. the block size of Bitcoin Cash was made 8 MB and then In 2018, it was increased 4 times to 32 MB, so today the block size of Bitcoin Cash is 32 MB. The reason for creating bigger blocks was that the bigger the blocks, the more transactions will be validated simultaneously, that is, the speed will be faster and then the transaction cost will also be divided among more people. Like a block of Bitcoin can handle 1000 to 1500 transactions whereas a block of Bitcoin Cash can handle more than 25000 transactions. This figure is from 2018.

But it is not that both Bitcoin and Bitcoin Cash are completely different. They also have a lot of similarities if the block size is omitted. Like both Bitcoin and Bitcoin Cash are peer to peer Crypto Coin which decentralized transactions. The maximum supply of both is 21 million coins. Both use the Proof of Work (PoW) algorithm for mining new coins and both of them also share the service of Bitmain, the world's largest miner.