Bitcoin cash fork blockchain

Hard forks splitting bitcoin (aka "split coins") are created via changes of the blockchain.
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Bitcoin Cash hard fork: what you need to know

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How To Claim Bitcoin Forks (Guide)

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Definition & Examples of Bitcoin Forks

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Namespaces Article Talk. Speed and decentralization essentially exist on a spectrum, so the more you have of one, the less you have of the other.

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With increased network traffic, even proponents of small block solutions recognized the need for at least some increase in processing speed. The solution small block proponents put forward is a process known as Segregated Witness SegWit. It functions by removing signature data from Bitcoin transactions.

A new block added to the Bitcoin network contains transaction data and digital signature data about the origin and destination of bitcoin BTC in each transaction. SegWit does exactly what the name implies — it segregates the witness the digital signature from the transaction data. Essentially, it rearranges the data in any given block more efficiently. SegWit basically allows for double the block size approximately 2MB per block.

SegWit is what is known as a soft fork, rather than a hard fork , and thus each node on the network could choose whether or not to adopt the new set of rules.

Bitcoin Cash Definition

Thus it only minimally increases the overall transaction speed of the Bitcoin ecosystem. Bitcoin Cash has its origin as a hard fork from Bitcoin. It is technically and structurally very similar to Bitcoin, but with one major difference: block size. As a response to the deficiency they saw in SegWit, Bitcoin Cash was created and designed to pack 8MB of data into each block and to process transactions per second on average.

Soft Fork and Hard Fork in Blockchain | OpenMind

While transaction speed is greatly increased with BCH, the larger block size also requires more processing power for nodes to support the blockchain network. So why not just make the blocks much bigger — say MB? That would make the network much faster, but extremely restrictive in terms of who could run a node, verify new blocks on the blockchain, and support the network. The debate about block size essentially boils down to speed versus decentralization and which of the two is more desirable.


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Large institutions, organizations, or BCH-businesses are able to consolidate the type of processing power required for large block sizes. In contrast, it would be much more difficult for individuals to amass sufficient processing power to handle large blocks. This discrepancy threatens to create an oligopoly where processing power is consolidated in the hands of a few key players , which ultimately endangers the decentralized nature of the blockchain.

A healthy mix of decentralized, distributed, independent verification is what makes the blockchain secure and reliable so, in a nutshell, more nodes equals greater network security. Bitcoin Cash is settled using a larger block size which is times larger than BTC, depending on the use of Segregated Witness to process transactions more quickly.


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  6. Bitcoin Cash (BCH) Hard Fork on 15 November – Blockchain Support Center!

    7. These transactions are quick enough that you could make a grab-and-go retail purchase with BCH like a cup of coffee , but if you were making a large purchase such as a car or a house, you could opt for a slower, more secure cryptocurrency like BTC. Not every cryptocurrency is a store of value, and not every cryptocurrency needs to process data quickly to function like a credit card transaction. It makes sense to use different tools for different tasks — much like using a credit card for restaurant dining and a bank transfer to buy a house.

    Ultimately, BCH is faster and features lower processing fees than BTC, but is still used less frequently as everyday cryptocurrency payments have yet to be widely adopted.