March 30

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Bitcoin Cash

Cryptospace

On August 1, 2017, Bitcoin-ABC development group initiated a hard fork of the Bitcoin blockchain to increase the block size. This new chain had 8MB blocks and was called Bitcoin Cash.

It's purpose was to achieve the original vision of the Satoshi Bitcoin white paper by creating a viable peer-to-peer electronic cash system. 

Bitcoin's transaction fees has become too high for use as a cash payment, with the cost of the transaction being multiple times higher than the cost of a cup of coffee, for example.

The Bitcoin Cash (BCH) ecosystem has struggled but traction is mounting with many locations that now accept BCH for POS (point of sale) payments. 

We will have a lot more to cover on BCH soon. 


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