Bitcoin Cash (BCH) is the continuation of the Bitcoin project as peer-to-peer digital cash that can be sent directly from one person to another. It's a permissionless, irreversible and pseudonymous cryptocurrency which has been fully decentralised.
Bitcoin Cash does not depend on intermediaries such as banks, unlike traditional fiat money. Therefore, transactions cannot be censored by governments or other centralised corporations. The digital currency BCH has a limited total supply of 21 million coins and has proved to be scarce as it is easily spent and accepted, with transaction fees typically less than a tenth of a cent.
Bitcoin Cash was announced on August 23, 2017, by its inventor "Jihan Wu". He is also the co-founder of Bitmain - the largest manufacturer of mining equipment in the world.
It came into existence because people who bought Bitcoin in 2016 didn't want to support side chains or other projects. Bitcoin Cash is a fork of the Bitcoin blockchain as a result of chain split, when a group of Bitcoin developers became dissatisfied with Bitcoin's overall scalability direction.
In 2018, Bitcoin Cash further split into Bitcoin Cash and Bitcoin SV via another hard fork. The latter camp, supported by Craig Wright and Calvin Ayre proposed a competing software version called Bitcoin Satoshi Vision that would take the block size limit further to 128MB.
In 2020, Bitcoin Cash experienced another hard fork. The forked led to the launch of Bitcoin Cash ABC (BCHA). The Bitcoin Cash ABC network includes a miners' tax where 8% of the mining rewards will be distributed to the BCHA developers as financing for protocol development.
The goal of Bitcoin Cash is to become the new money for the world. Money that can be used by everyone no matter their age or location - instant, global and practically free payments to anyone, anywhere in the world at any time.
Bitcoin Cash funds are unable to be seized or frozen, as financial intermediaries and third parties have no control over the Bitcoin Cash network.
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