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
