What is Bitcoin Cash ? Bitcoin Cash is a digital currency forked from the Bitcoin network in late 2017 with the goal to be the real implementation of Satoshi original white paper. It is intended to be the real “Peer to peer electronic cash” as described by Satoshi Nakamoto.
How does it work? Bitcoin Cash works almost exactly like Bitcoin since it’s based on the original Bitcoin core software. The main difference is the block size limit. Bitcoin Cash changes the block limit size with the goal of lowering transaction fees.
What are the features of Bitcoin Cash? Fast Transaction Time With large blocks, the Bitcoin cash network can afford to validate many transactions in a relatively short period of time compared to the original Bitcoin core implementation.
Low Transactions Fees Big blocks prevent large transaction pools and with no congestion in the pools, fees are low to validate these transactions from the miner’s perspective.
Some Key Terms Soft Fork Change to the Bitcoin protocol that makes old blocks invalid which were valid in the past. Bitcoin Segwit transactions feature was implemented as a soft fork to the network.
Hard Fork Change to the Bitcoin protocol that makes previously invalid blocks or transactions valid. The BerkeleyDB bug activated an accidental hard fork to the Bitcoin network in 2013.