Bitcoin Cash is a type of cryptocurrency that was created as a result of a hard fork from the original Bitcoin blockchain. It was designed to address some of the scalability issues that Bitcoin was facing, such as slow transaction times and high fees.
Bitcoin Cash was created in 2017 by a group of developers who were concerned about the direction that Bitcoin was headed in. They believed that by increasing the block size limit, they could improve the overall performance of the network and make it more accessible to a larger number of users.
One of the key differences between Bitcoin and Bitcoin Cash is the block size limit. Bitcoin has a block size limit of 1MB, which means that only a certain number of transactions can be processed in each block. Bitcoin Cash, on the other hand, has a block size limit of 8MB, allowing for more transactions to be included in each block.
Another difference is the mining algorithm used by each cryptocurrency. Bitcoin uses the SHA-256 algorithm, while Bitcoin Cash uses the Equihash algorithm. This means that Bitcoin Cash can be mined using consumer-grade hardware, making it more decentralized and accessible to a wider range of miners.
Overall, Bitcoin Cash aims to be a fast, reliable, and low-cost alternative to traditional payment methods. It is accepted by a growing number of merchants and can be used for a variety of online transactions. With its larger block size limit and focus on scalability, Bitcoin Cash has the potential to become a popular choice for users looking for a more efficient cryptocurrency.