Bitcoin Cash is a cryptocurrency created in a hard fork that occurred in August 2017. Bitcoin Cash increased the size of blocks from 8MB to 32MB, allowing more transactions per block to be included in the process compared to Bitcoin. In 2017, a group of Bitcoin users who disagreed with the roadmap proposed by Bitcoin Core created Bitcoin Cash. They believed that some changes were vital for Bitcoin to compete with the traditional payment systems and advocated shifting costs to other parts of the network to lower transaction fees.
Bitcoin Cash has the same maximum supply as Bitcoin. It has a fixed and limited maximum supply of 21 million BCH. Bitcoin Cash, like Bitcoin, uses the Proof of Work algorithm for each new block formation.
The price of BCH has increased by about 80% in the last 7 days, but fallen by 3.46% in the last 24 hours. Institutional investor sentiment toward crypto has led to a surge in BTC and BCH. The upward trend in Bitcoin Cash came after BCH was listed on Citadel-backed cryptocurrency exchange EDX Markets. Today’s decline may be due to profit realization.
