How did Bitcoin Cash come into existence?

3 answers

• Dec 18, 2021 · 3 years ago
  Bitcoin Cash was created as a result of a hard fork in the Bitcoin blockchain. This happened on August 1, 2017, when a group of developers and miners decided to increase the block size limit of Bitcoin from 1MB to 8MB. This change was made to address the scalability issues of Bitcoin and allow for faster and cheaper transactions. The hard fork resulted in the creation of a new cryptocurrency called Bitcoin Cash, with its own separate blockchain and token.
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• Dec 18, 2021 · 3 years ago
  Bitcoin Cash came into existence due to a disagreement within the Bitcoin community regarding the future direction of the cryptocurrency. Some members believed that increasing the block size was necessary to accommodate more transactions and improve scalability, while others argued that it would compromise the decentralization and security of the network. The disagreement eventually led to a split, with Bitcoin Cash being created as an alternative version of Bitcoin with larger block sizes.
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• Dec 18, 2021 · 3 years ago
  Bitcoin Cash was created to address the scalability issues of Bitcoin. The developers and miners behind Bitcoin Cash believed that increasing the block size would allow for more transactions to be processed in each block, resulting in faster and cheaper transactions. By creating a separate cryptocurrency with larger block sizes, they aimed to provide an alternative to Bitcoin that could better meet the needs of users who required faster and more affordable transactions. This decision was made independently by the Bitcoin Cash community and was not influenced by any specific exchange or organization.
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