Overview

Bitcoin Cash is a variant of Bitcoin created after the blockchain ledger split on August 1, 2017, when the 1 MB capacity of Bitcoin could not withstand the amount of transaction requests, causing prolonged confirmation times, high fees and a marketshare drop of over 50%. Forming Bitcoin Cash with a block size of 8MB solved this problem by prioritizing a scaling approach. It shares the same characteristics as its predecessor, meaning it is a peer to peer, decentralized digital currency which functions as electronic money and enables online transactions. While technically identical, the fork is separate and features certain improvements in terms of growth and scaling capabilities, upgrades that are supposed to enable faster and cheaper payments, but at the cost of Bitcoin's public, independent and decentralized qualities becoming of secondary importance. All users who have owned Bitcoin prior to the split, have automatically received Bitcoin Cash in the same amount after the split was completed.

Bitcoin Cash

How does Bitcoin Cash Work?

As of August 1st 2017, all transactions between Bitcoin and Bitcoin Cash are separate, which means the latter won't include the former and vice versa. The new blockchain comes with a different signature that can't be used on the Bitcoin Legacy network, therefore you will have to obtain it at an exchange independently of its sister currency.

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At the moment, there over 30 exchange websites where you can buy or sell the currency,and half as many wallets to install for storage - essentially any place where its counterpart is available. Its developers boast low fees and an unrestricted potential for future growth and block size adjustments. Additionally, they claim much higher security and resistance to hashing attacks, even when compared to improvements achieved through Segregated Witness.

Bitcoin

Pros and Cons

There are currently two major streams of thought regarding the advantages and disadvantages of Bitcoin and its latest variant. Given that crytpocurrencies are dynamic and continually worked upon by developers, wide fluctuations are to be expected in virtually all of their features. Choosing between one or the other is a matter of personal preference, and comes down to which of its aspects are more important to you: being independent of outside influence, or providing faster transactions. Some consider lower fees and speedy payments second in line of priorities, and advocate for Bitcoin to keep its autonomy as a fundamental quality which makes it different than other centralized, e-wallet services. A major disadvantage of Bitcoin Cash is considered to be its propensity to endanger decentralization and come closer to traditional banking systems, but this has not yet happened and the fork may just find ways to meet an enormous scaling demand without undermining the independent nature of the currency.

Link to terms & conditions https://bitcoincash.org/
Overview Bitcoin Cash is a variant of Bitcoin created after the blockchain ledger split on August 1, 2017, when the 1 MB capacity of Bitcoin could not withstand the amount of transaction requests, causing prolonged confirmation times, high fees and a marketshare drop of over 50%. Forming Bitcoin Cash with a block size of 8MB solved this problem by prioritizing a scaling approach. It shares the same characteristics as its predecessor, meaning it is a peer to peer, decentralized digital currency...
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