Bitcoin Cash (BCH)
BCH, or Bitcoin Cash, is a cryptocurrency token that emerged as a result of a hard fork from the original Bitcoin blockchain in August 2017. It was created to address some of the scalability issues of Bitcoin and offer faster and cheaper transactions.
The founder of Bitcoin Cash is a group of prominent individuals in the cryptocurrency community who were in favor of increasing the block size limit of Bitcoin. This group included Roger Ver, Jihan Wu, and others who believed that larger block sizes would allow for more transactions to be processed quickly and efficiently.
Bitcoin Cash carries forward the transaction history of the original Bitcoin blockchain up until the point of the hard fork. It shares similarities with Bitcoin, including its proof-of-work consensus mechanism and total coin supply. However, it differs in terms of block size, with Bitcoin Cash having an increased block size of 8MB compared to Bitcoin's 1MB.
Since its creation, Bitcoin Cash has undergone various developments and improvements. Notable updates include the introduction of Schnorr signatures and the implementation of the Simple Ledger Protocol (SLP), which allows the creation and management of tokenized assets on the Bitcoin Cash blockchain.
Bitcoin Cash has also gained support from several cryptocurrency exchanges and businesses. It is recognized as a viable cryptocurrency and a means of payment by various merchants and service providers.
However, it's important to note that Bitcoin Cash has experienced controversy and division within the community, with differing opinions on its scalability solutions and future direction.
In summary, BCH (Bitcoin Cash) is a cryptocurrency token that emerged as a result of a hard fork from the original Bitcoin blockchain. It was created to address scalability issues and provide faster and cheaper transactions. Bitcoin Cash was founded by a group of individuals led by Roger Ver and Jihan Wu. Since its inception, Bitcoin Cash has undergone developments and has gained recognition as a cryptocurrency and means of payment.