Bitcoin Cash (BCH)

To solve a problem in the bitcoin structure, a hard fork was needed. At least, that was found by a number of influential individuals in the bitcoin community, including Roger Ver and the CEO of Bitmain. It is the most known and most controversial fork in cryptocurrency world. Roger Far was known as the ‘face’ of bitcoin. Until the day he opted for the split, he started promoting Bitcoin Cash. The problem with bitcoin is the scalability of the blocks in the chain. Bitcoin can process 1mb per block, whereby Bitcoin Cash can process 8mb per block. As a result, the transaction speed will increase and the costs will be lower because it is possible to process more transactions per block.

Due to the split, the original bitcoin is nowadays called as Bitcoin Core. Apart from the fact that the intentions to ‘fork’ bitcoin was not shared in the bitcoin community, Bitcoin Cash continues to keep a controversial ‘scam’ image as everyone who had bitcoin in his wallet at the time received Bitcoin Cash in proportion to Bitcoin. ‘The idea of the rich getting richer.’

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