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When was BCH coin issued? Learn about the origin of BCH coin in one article

Bitcoin Cash emerged from a hard fork of the Bitcoin blockchain on August 1, 2017, due to a scaling debate within the community.

Oct 15, 2024 at 04:54 am

The Origin of BCH: A Comprehensive Guide to the Bitcoin Cash Coin

1. Genesis of Bitcoin Cash

Bitcoin Cash (BCH) emerged as a hard fork of the original Bitcoin (BTC) blockchain on August 1, 2017. The fork was driven by a scaling debate within the Bitcoin community, where many users advocated for increasing the block size to accommodate more transactions and reduce network congestion.

2. Technical Differences

The key technical difference between Bitcoin and Bitcoin Cash lies in their block size. BCH increased the block size limit from 1 megabyte (MB) to 8 MB, allowing for a higher number of transactions per block. This change was aimed at improving scalability and reducing transaction fees.

3. Reasons for the Hard Fork

The hard fork originated from a disagreement over the optimal path forward for Bitcoin. Some users believed that increasing the block size was essential to meet the growing transaction demands, while others prioritized maintaining the original Bitcoin protocol and adhering to its decentralized principles.

4. Impact of the Hard Fork

The hard fork led to the creation of two separate digital currencies: Bitcoin (BTC) and Bitcoin Cash (BCH). Holders of BTC at the time of the fork received an equal amount of BCH, resulting in a 1:1 split.

5. Market Performance of BCH

In the years following its issuance, BCH has exhibited a distinct market performance compared to BTC. While both cryptocurrencies experienced significant price swings, BCH has generally had a lower market capitalization and different adoption rates.

Conclusion

Bitcoin Cash was born out of a scaling debate within the Bitcoin community and emerged as a hard fork in August 2017. It increased the block size limit to overcome network congestion and improve scalability. The issuance of BCH resulted in a 1:1 split with BTC holders, and its market performance has since diverged from the original cryptocurrency.

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