Bitcoin Cash is a cryptocurrency that was created in the middle of 2017 as a result of a hard fork in the Bitcoin blockchain. A hard fork is a change in a blockchain’s code that results in splitting the cryptocurrency into two cryptocurrencies. If you owned Bitcoin at the time of the hard fork, you would continue to own your Bitcoin, as well as now owning an equal number of Bitcoin Cash.
This hard fork was the result of a disagreement among Bitcoin developers and supporters. Bitcoin Cash supporters believe that the blockchain should have larger blocks, which theoretically allows it to work better as a transactional currency. Bitcoin Cash detractors see Bitcoin Cash as not legitimate, and it currently does not have a large community of adopters.
Bitcoin Cash was forked again about a year later, resulting in two more cryptocurrencies: Bitcoin ABC and Bitcoin SV. Bitcoin ABC became the dominant split in the fork and retained the ticker symbol BCH, while Bitcoin SV is known by the ticker symbol BSV.
Bitcoin Cash can be used for commercial transactions between parties. This use case is still small as a percentage of total transactions. It’s also bought and sold on crypto exchanges as a way to speculate on the current and future value of BCH.
The current price of Bitcoin Cash is $667.74 US dollars. This price is up 5.29% from yesterday