Bitcoin Cash (BCH)
is arguably the most popular hard fork of Bitcoin, billing itself as the Bitcoin as-it’s-meant-to-be. The BCH was launched in August 2017, as a response to what the disaffected Bitcoin users perceived as the key issues with Bitcoin as its parent cryptocurrency: slow transaction times, high fees and high energy consumption.
Initially, Bitcoin Cash tried to beat Bitcoin by changing the Bitcoin’s block size from 1 MB to 8 MB which was followed by 32 MB in mid-2018. This was supposed to make the verification process faster, shorten the transaction procedures and create the potential for the network to scale more efficiently with an increasing number of its users.
This is not to say that BCH did not face various problems upon its launch, staring from being confused with Bitcoin based on shared logo to being perceived as a low-end version of Bitcoin with centralization issues. Eventually, conflicting attitudes about block sizes split the BCH community into two main factions
. Those who saw themselves as protecting Bitcoin Cash from implementing too radical block size changes emerged as Bitcoin ABC faction. The others formed the Bitcoin SV
as the second major fork of BCH whose promoters saw themselves as upholding the original vision of the Bitcoin’s founder Satoshi Nakamoto.