Overview

A bitcoin cash also referred to as BCH is a fork of Bitcoin. It is a cryptocurrency that is an altcoin or spin-off.

A bitcoin cash is a fork of Bitcoin. It is a cryptocurrency that is an altcoin or spin-off. It is like bitcoin with regards to its protocol.

It consists of Proof of Work SHA-256 hashing with a maximum supply of 21,000,000 BCH with the same block times and reward system. However, the differences are the block-size limits (as of August 2017) BCH proposes a block-size limit of 8MB while Bitcoin has a limit of 1MB. Including bitkcoin cash will alter the difficulty every 6 blocks as opposed to 2016 blocks with bitcoins.

To carry out User activated hard fork (UAHF) it was proposed with bitcoin cash through the BTC mining pool and the Bitmain mining group on 1st August, 12:20 pm UTC. The consensus was rejected (aka BIP-91 or SegWit2x) and was decided to fork the original Bitcoin blockchain to create this new category called “Bitcoin Cash.” BTC owners who have their private keys can claim BCH and also store their BTC on a service which will spill BCH for the customers.