Bitcoin Cash is a touchy
subject in the crypto community. But if you like drama, then it could be the
cryptocurrency for you. So how did this all start? Well, in 2017, Bitcoin saw
a huge spike in popularity. It was too much for the network and it started to see
longer transaction times than people would have liked. This restricted its use as
a way of paying for things in everyday life.
There are several solutions offered. One faction, primarily
made up of Bitcoin miners and advocates, like Roger Ver, thought the solution was
to increase the block size from one megabyte to eight megabytes. The idea was that this would
allow more transactions to be processed per block
and speed things up a bit. This faction lost the argument, however, with others believing
that the larger block size would mean weaker security. They decided instead to
leave with a hard fork and Bitcoin Cash was created with its own blockchain
and larger block size.
The scalability debate
didn't end there, though. In May 2018, another
major update took place and the block size was
increased even further to 38 megabytes. In November 2018, the Bitcoin Cash network
experienced its own hard fork and Bitcoin SV was created. So how do they differ? Well, like pancakes and waffles, Bitcoin and Bitcoin Cash
share many ingredients, but different in some key ways. But the real difference between the two, it's more to do with
philosophy than technology.
The Bitcoin community prioritise
being censorship resistant, decentralised,
permissionless, and trustless. The Bitcoin Cash community view is that consumer mass adoption of Bitcoin takes precedence over decentralisation. So, which do you agree with? Let us know in the comments below and don't forget to like, subscribe, and, as always.
