Bitcoin Cash (BCH) is a cryptocurrency that was created in August 2017 as a result of a hard fork from the original Bitcoin (BTC) blockchain. The fork was initiated by a group of developers who wanted to increase the block size limit of the Bitcoin network from 1MB to 8MB, allowing for faster and cheaper transactions.
Some key features of Bitcoin Cash include:
1. Increased block size limit: Bitcoin Cash has an 8MB block size limit, compared to Bitcoin's 1MB limit. This allows for more transactions to be processed per block, increasing the network's capacity and potentially reducing transaction fees.
2. Lower transaction fees: The larger block size limit of Bitcoin Cash allows for lower transaction fees compared to Bitcoin. This makes Bitcoin Cash more attractive for everyday transactions and micropayments.
3. Decentralized governance: Bitcoin Cash has a decentralized governance model, with decisions regarding the protocol's development and future direction being made through community consensus.
4. SegWit-free: Bitcoin Cash does not implement the Segregated Witness (SegWit) protocol that was introduced in Bitcoin to address transaction malleability and increase capacity. Instead, Bitcoin Cash uses a different method called "transaction signature hashing" to achieve similar goals.
5. Compatibility: Bitcoin Cash is compatible with most Bitcoin wallets and services, making it easier for users to adopt and use the cryptocurrency.
The value of Bitcoin Cash, like other cryptocurrencies, is determined by market demand, adoption, and overall market conditions. As the cryptocurrency ecosystem continues to evolve and expand, the utility and value of Bitcoin Cash may change accordingly.