For those (and other) reasons, Bitcoin Cash was necessary as a pre-SegWit fork. Segwit will not be adopted.
Many miners and users trusted these developers, while others recognized that they were leading the community down a different road than expected.
This decentralization of development (and decentralization of software implementations) is a much needed and important step forward.
Any transactions after the August 1st ledger split are completely separate between Bitcoin and Bitcoin Cash. This means any Bitcoin acquired after the split does not include any Bitcoin Cash, and any Bitcoin Cash does not include any Bitcoin.
Decentralized Development- With multiple independent teams of developers providing software implementations, the future is secure. Bitcoin Cash is resistant to political and social attacks on protocol development. No single group or project can control it. Thebitcoin-ml mailing listis a good venue for making proposals for changes that require coordination across development teams.Workgroupshave been set up to assist developers to coordinate and seek peer-review. For those wishing to implement changes to the Bitcoin Cash protocol, it is recommended to seek early peer-review and engage collaboratively with other developers through the workgroups.
All Bitcoin holders as of block 478558 are also owners of Bitcoin Cash. All are welcome to join the Bitcoin Cash community as we move forward in creating sound money accessible to the whole world.
On Chain Scalability- Bitcoin Cash follows the Nakamoto roadmap of global adoption with on-chain scaling. As a first step, the blocksize limit has been made adjustable, with an increased default of 8MB.Research is underway to allow massive future increases.
Low fees and fast confirmations have returned with Bitcoin Cash. The network is growing again. Users, merchants, businesses, and investors are building the future with real peer to peer cash.
New Transaction Signatures- A new SigHash type provides replay protection, improved hardware wallet security, and elimination of the quadratic hashing problem.
Worlds most robust blockchain technology.
Bitcoin Cash is usually represented by the ticker symbol BCH.
Yes, in 2017, capacity hit the invisible wall. Fees skyrocketed, and Bitcoin became unreliable, with some users unable to get their transactions confirmed, even after days of waiting.
Why was a fork necessary to create Bitcoin Cash?
First, even if used in 100% of transactions, the increase would equate to 1.7MB blocks. Thus, it is a small capacity increase at best. It will not handle exponential growth or worldwide usage. Second, the soft fork implementation results in discardable signatures, whichweakens Bitcoins security model.Third, it makes future capacity increases more difficult due to bandwidth inefficiency and quadratic hashing attacks which SegWit doesnt solve since an attacker isnt forced to use it.
Is Bitcoin Cash different from Bitcoin?
Yes. Bitcoin Cash immediately raised the block size limit to 8MB as part of a massive on-chain scaling approach. There is ample capacity for everyones transactions.
Was the 1 MB block size limit causing problems for Bitcoin?
The legacy Bitcoin code had a maximum limit of 1MB of data per block, or about 3 transactions per second. Although technically simple to raise this limit, the community could not reach a consensus, even after years of debate.
A payment system thats a proven store of value.
A network that runs without congestion.
Segregated Witness or SegWit is an unacceptable substitute for increasing the blocksize for several reasons.
Bitcoin Cash brings sound money to the world, fulfilling the original promise of Bitcoin as Peer-to-Peer Electronic Cash. Merchants and users are empowered with low fees and reliable confirmations. The future shines brightly with unrestricted growth, global adoption, permissionless innovation, and decentralized development.
Why didnt Bitcoin raise the block size if it was easy?
Transact in seconds. Get confirmed in minutes.
Bitcoins market price has increased, but its growth and usefulness as a currency has stagnated. Many users, merchants, businesses and even investors left Bitcoin for alternatives, causing its dominance to fall from 95% to as low as 40%.
New Difficulty Adjustment Algorithm (DAA)- Responsive Proof-of-Work difficulty adjustment allows miners to migrate from the legacy Bitcoin chain as desired, while providing protection against hashrate fluctuations.
The Bitcoin Cash network will undergo a protocol upgrade on May 15th 2018. Businesses and individuals who use the Bitcoin Cash network should check to ensure that their software is compatible with the upgrade. Aspecificationis available, and the upgrade is being tested ontestnet. This upgrade is the first of planned series of protocol upgrades announced late 2017 by.
How is transaction replay being handled between the new and the old blockchain?
Didnt SegWit increase the block capacity? Will Bitcoin Cash ever have SegWit?
Some of the developers did not understand and agree with theoriginal vision of peer-to-peer electronic cashthat Satoshi Nakamoto had stead, they preferred Bitcoin become a settlement layer.
Does Bitcoin Cash fix these problems?
Yes. Bitcoin Cash is the continuation of the Bitcoin project as peer-to-peer digital cash. It is a fork of the Bitcoin blockchain ledger, with upgraded consensus rules that allow it to grow and scale.
These two very different visions for Bitcoin are largely incompatible, which led to the community divide.
Bitcoin Cash transactions use a new signature hashing algorithm indicated by the flag SIGHASH_FORKID. These signatures are not valid on the Bitcoin Legacy network. This prevents Bitcoin Cash transactions from being replayed on the Bitcoin blockchain and vice versa.
Unlike the previous situation in Bitcoin, there is no one single development team for Bitcoin Cash. There are now multiple independent teams of developers.
Bitcoin Cash is peer-to-peer electronic cash for the Internet. It is fully decentralized, with no central bank and requires no trusted third parties to operate.
What is the ticker symbol for Bitcoin Cash?
If I own Bitcoin, do I automatically own Bitcoin Cash too?
Anyone who held Bitcoin at the time Bitcoin Cash was created became owners of Bitcoin Cash. This means that Bitcoin holders as of block 478558 (August 1st, 2017 about 13:16 UTC) have the same amount of Bitcoin Cash as they had Bitcoin at that time. If your Bitcoins are stored by a third party such as an exchange, then you must inquire with them about your Bitcoin Cash.
Which Development Team is In Charge of Bitcoin Cash?