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Without the hardworking independent developers who build and improve the Bitcoin Cash (BCH) network itself, our mission of helping the world access a fairer financial system wouldn’t be possible.

What is Bitcoin Cash?
Bitcoin cash is a cryptocurrency created in August 2017, from a fork of Bitcoin. Bitcoin Cash increases the size of blocks, allowing more transactions to be processed. The cryptocurrency underwent another fork in November 2018 and split into Bitcoin Cash ABC and Bitcoin Cash SV (Satoshi Vision). Bitcoin Cash is referred to as Bitcoin Cash because it uses the original Bitcoin Cash client.

Understanding Bitcoin Cash
The difference between Bitcoin and Bitcoin Cash is philosophical.

As proposed by Bitcoin inventor Satoshi Nakamoto, Bitcoin was meant to be a peer-to-peer cryptocurrency that was used for daily transactions. Over the years, as it gained mainstream traction and its price surged, Bitcoin became an investment vehicle instead of a currency. Its blockchain witnessed scalability issues because it could not handle the increased number of transactions. The confirmation time and fees for a transaction on bitcoin’s blockchain surged. This was mainly due to the 1MB block size limitation for bitcoin. Transactions queued up, waiting for confirmation, because blocks could not handle the increase in size for transactions.

Bitcoin Cash proposes to remedy the situation by increasing the size of blocks to between 8 MB and 32 MB, thereby enabling processing of more transactions per block. The average number of transactions per block on Bitcoin is between 1,000 and 1,500. The number of transactions on Bitcoin Cash’s blockchain during a stress test in Sep 2018 surged to 25,000 per block.

Major proponents of Bitcoin Cash, such as Roger Ver, often invoke Nakamoto’s original vision of a payment service as reason to increase block size. According to them, the change in bitcoin’s block size will enable bitcoin’s use as a medium for daily transactions and help it compete with multinational credit card processing organizations, such as Visa, which charge high fees to process transactions across borders.

Bitcoin Cash also differs from bitcoin in another respect. It does not incorporate Segregated Witness (SegWit), another solution proposed to accommodate more transactions per block. SegWit retains only information or the metadata relating to a transaction in a block. Typically, all details pertaining to a transaction are stored in a block.

Ideological and block size differences apart, there are several similarities between Bitcoin and Bitcoin Cash. Both use the Proof of Work (PoW) consensus mechanism to mine new coins. They also share the services of Bitmain, the world’s biggest cryptocurrency miner. The supply of Bitcoin Cash is capped at 21 million, the same figure as Bitcoin. Bitcoin Cash also started off using the same difficulty algorithm – Emergency Difficulty Adjustment (EDA) – which adjusts difficulty every 2016 blocks or roughly every two weeks. Miners took advantage of this similarity by alternating their mining activity between Bitcoin and Bitcoin Cash. While it was profitable for miners, the practice was detrimental to increasing supply of Bitcoin Cash in the markets. Hence, Bitcoin Cash has revised its EDA algorithm to make it easier for miners to generate the cryptocurrency.

History of Bitcoin Cash
In 2010, the average size of a block on Bitcoin’s blockchain was less than 100 KB and the average fee for a transaction amounted to a couple of cents. This made its blockchain vulnerable to attacks, consisting entirely of cheap transactions, that could potentially cripple its system. To prevent such a situation, the size of a block on bitcoin’s blockchain was limited to 1 MB. Each block was generated every 10 minutes, allowing for space and time between successive transactions. The limitation on size and time required to generate a block added another layer of security on bitcoin’s blockchain.

But those safeguards proved to be a hindrance when bitcoin gained mainstream traction on the back of greater awareness of its potential and enhancements to its platform. The average size of a block had increased to 600K by Jan 2015. The number of transactions using Bitcoin surged, causing a buildup of unconfirmed transactions. The average time to confirm a transaction also moved upwards. Correspondingly, the fee for transaction confirmation also increased, weakening the argument for bitcoin as a competitor to expensive credit card processing systems. (Fees for transactions on bitcoin’s blockchain are specified by users. Miners typically push transactions with higher fees to the front of the queue in order to maximize profits.)

Two solutions were proposed by developers to solve the problem: increase the average block size or exclude certain parts of a transaction to fit more data into the blockchain. The Bitcoin Core team, which is responsible for developing and maintaining the algorithm that powers bitcoin, blocked the proposal to increase block size. Meanwhile, a new coin with flexible block size was created. But the new coin, which was called Bitcoin Unlimited, was hacked and struggled to gain traction, leading to doubts about its viability as a currency for daily transactions.

The first proposal also drew sharp and diverse reactions from the bitcoin community. Mining behemoth Bitmain was hesitant to support Segwit implementation in blocks because it would affect sales for its AsicBoost miner. The machine contained a patented mining technology that offered a “shortcut” for miners to generate hashes for crypto mining using less energy. However, Segwit makes it more expensive to mine Bitcoin using the machine because it makes transaction reordering difficult.

Amidst a war of words and staking out of positions by miners and other stakeholders within the cryptocurrency community, Bitcoin Cash was launched in July 2017. Each Bitcoin holder received an equivalent amount of Bitcoin Cash, thereby multiplying the number of coins in existence. Bitcoin Cash debuted on cryptocurrency exchanges at an impressive price of $900. Major cryptocurrency exchanges, such as Coinbase and Itbit, boycotted Bitcoin Cash and did not list it on their exchanges.

But it received vital support from Bitmain, the world’s biggest cryptocurrency mining platform. This ensured a supply of coins for trading at cryptocurrency exchanges, when Bitcoin Cash was launched. At the height of cryptocurrency mania, Bitcoin Cash’s price skyrocketed to $4,091 in December 2017.

Paradoxically enough, Bitcoin Cash itself underwent a fork slightly more than a year later due to the same reason it split from Bitcoin. In Nov 2018, Bitcoin Cash split into Bitcoin Cash ABC and Bitcoin Cash SV (Satoshi Vision). This time around, the disagreement was due to proposed protocol updates that incorporated the use of smart contracts onto bitcoin’s blockchain and increased the average block size.

Bitcoin Cash ABC uses the original Bitcoin Cash client but has incorporated several changes to its blockchain, such as Canonical Transaction Ordering Route (CTOR) – which rearrange transactions in a block to a specific order.

Bitcoin Cash SV is led by Craig Wright, who claims to be the original Nakamoto. He rejected the use of smart contracts on a platform that was meant for payment transactions. The drama prior to the latest hard fork was similar to the one before forking Bitcoin Cash from Bitcoin in 2017. But the end has been a happy one as more funds have flowed into the cryptocurrency ecosystem due to the forking and the number of coins available to investors has multiplied. Since launching, both cryptocurrencies have garnered respectable valuations at crypto exchanges.

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Last Transactions

6+confirmations 

6fe287010d62456679b8d17e395fb9013c008eccfd8d2cf04bffa2de9276ed87

1 Input Consumed

1.44698942 BTC from
bc1qr4yh0gyzxjczaaaftucwmrgaqzsl7kg8awkufm(output)

45 Outputs Created

0.11239914 BTC to
38ofgikWoTHP9iz6eG9JHCZEupFqta593Y(spent)
0.00452254 BTC to
3DSW3Gd9rrrthvucML7Toz23xnogJRBPH5(spent)
0.0042048 BTC to
3GGwAzGuHpsDzDYJmHFYEgJMDu2RvYcxKc(spent)
0.00111215 BTC to
1A8sbDHnDaHdXNZpvUjcewYKwxF9bcFKcJ(spent)
0.00298936 BTC to
3DYELK29amwHobMZoxwZqyKbyK4j1b5hxP(spent)
...

Value Transacted :1.44667947 BTC

6+confirmations 

be3b126c21ed1af78e0d48d13d880c96aab15c706efd01c6e4ae0be1f5a1d514

3 Inputs Consumed

0.011105 BTC from
3FUyM8CmUNDKwkPc2a2uQAuXFYq2UgdmR3(output)
0.01105282 BTC from
34mUKPeJs54Z3kPbPaaxp8zWCkjqcdQgWE(output)
0.01083696 BTC from
36XTMVtgJqqNYymsSvRonpUsbZRGkm1jvX(output)

2 Outputs Created

0.00888449 BTC to
39UJahoHC1JKAiHBD6WYEEmwswCcXfLjLm(unspent)
0.02281282 BTC to
3QisVWWw55VjREE5T1s92mDXHoiySSZrvJ(unspent)

Value Transacted :0.03169731 BTC

6+confirmations 

8b22e5b390427f844830510ea04cd150ccffe0f80613a78140a0038d34bc53a4

4 Inputs Consumed

0.01275214 BTC from
36EApSMxg5NRXHTK4tWpH9RZrJG8Z4E7M1(output)
0.01387232 BTC from
3DHFy9e9CzCvtteej1BwsQoD7PsgN87daH(output)
0.01236518 BTC from
36XTMVtgJqqNYymsSvRonpUsbZRGkm1jvX(output)
0.01345713 BTC from
3HJxUzyGH9ddBgTLH4Vr9aCia8nbHNFebg(output)

2 Outputs Created

0.00979041 BTC to
3PPUhdmSCKASrtchvg6694rE4sjz1GCjq2(unspent)
0.04241072 BTC to
3QisVWWw55VjREE5T1s92mDXHoiySSZrvJ(unspent)

Value Transacted :0.05220113 BTC

6+confirmations 

2651d3bd22d8d79a848d6d8169289da819e0073d39cb2729b638299a1b536b80

1 Input Consumed

0.03 BTC from
1ViViGLEawN27xRzGrEhhYPQrZiTKvKLo(output)

2901 Outputs Created

0.00000546 BTC to
33UdiRQ4DpishH1fa7gaY6Jz1ABm2FPhfC(spent)
0.00000546 BTC to
14sZuK54zXiL9FnnXK38M82kxxUzWu5b3E(unspent)
0.00000546 BTC to
13Uo9Jz3VKbuTZDykLiyUTCYRRMd7Dieov(spent)
0.00000546 BTC to
1HZwBz1mnYKKob63mwTzjdXPhokn3qJTv9(spent)
0.00000546 BTC to
1MNcRCPkNqxcTcBVoJjdo4JUjZ2EErrVdT(spent)
...

Value Transacted :0.02747566 BTC

6+confirmations 

f006425ee500900edaad33bf32673ffeb663359b79324c5315df837aa6e4bfff

1 Input Consumed

0.06454573 BTC from
3Gt4sFU4wqbHmBAHcYC5MJGWu8xvaTsmsY(output)

2800 Outputs Created

0.00000546 BTC to
13qzZUuCb2NdvBwCWCmtNnU2W6Vz9dhihM(unspent)
0.00000546 BTC to
1DH3PsqXFFHQyJKAbHd4652RpBQBSVviAe(unspent)
0.00000546 BTC to
1JJtbLc784ew1qkqkUWdy4UJiHGuFRgEKA(spent)
0.00000546 BTC to
1JwdkkK35uAr5HTyfAkzQ6xGmo9fHy35r3(spent)
0.00000546 BTC to
15qi8ofh9VFpZ4znVDLwkfRKW9XYYVXxFb(unspent)
...

Value Transacted :0.06211078 BTC

6+confirmations 

ca7a2de5ebd924fb34003d9adc4cf14e828b796eb7d5a615753614847fe52cd5

5 Inputs Consumed

0.01520265 BTC from
3AtbpAikJ6C11ZCHiYbEKcSjyoVjzfxYwU(output)
0.01612904 BTC from
36XTMVtgJqqNYymsSvRonpUsbZRGkm1jvX(output)
0.01950915 BTC from
3AtbpAikJ6C11ZCHiYbEKcSjyoVjzfxYwU(output)
0.01600192 BTC from
36XTMVtgJqqNYymsSvRonpUsbZRGkm1jvX(output)
0.0169077 BTC from
3AtbpAikJ6C11ZCHiYbEKcSjyoVjzfxYwU(output)

2 Outputs Created

0.06906719 BTC to
1Nm9MEPAi5qLA9MFULNQAs432fNLrQdpGr(spent)
0.01345713 BTC to
3HJxUzyGH9ddBgTLH4Vr9aCia8nbHNFebg(spent)

Value Transacted :0.08252432 BTC

6+confirmations 

ef704e642d013fa4cef07259abf8bb43f5de53823de4bd6621494e7ec91ae736

5 Inputs Consumed

0.02310468 BTC from
3AtbpAikJ6C11ZCHiYbEKcSjyoVjzfxYwU(output)
0.02 BTC from
36XTMVtgJqqNYymsSvRonpUsbZRGkm1jvX(output)
0.02105114 BTC from
3HKoJRQcxcSvrXtqaw4xyxbuFcDgsauJRG(output)
0.02171419 BTC from
3FececLHQqGhNUxQPKFiJsU1kPeWFrGRfX(output)
0.02169136 BTC from
3A8brzJyUATpLz8rcKTSSkxwoW6NtUmWou (output)

2 Outputs Created

0.091 BTC to
3J5oqPc4CxQMLb9Cp2pzMjWwh8ZJzRcjzj(spent)
0.01507985 BTC to
34LaQ4CTkFyS3pAwBEfEBaQB8vHMropBXt(spent)

Value Transacted :0.10607985 BTC

6+confirmations 

957f979dcb054d3fe9a96dc29626642d1ed1f2ed7f1838341a84585e7a9b1636

1 Input Consumed

0.00431365 BTC from
3AE6orY1JZDdweExDLT3ZFjzDCgiMSq2Hr(output)

2 Outputs Created

0.00430509 BTC to
3LQHcgYCzskuWrQC6PZzLPNVRFQernecfa(spent)
0.0000069 BTC to
36XTMVtgJqqNYymsSvRonpUsbZRGkm1jvX(unspent)

Value Transacted :0.00431199 BTC

6+confirmations 

a3626f3929ca148e9befa3e92eb4add8431f0a7d9a3ffcdcd2fae0ef06ef55e2

5 Inputs Consumed

0.02596904 BTC from
3AtbpAikJ6C11ZCHiYbEKcSjyoVjzfxYwU(output)
0.02955738 BTC from
3AtbpAikJ6C11ZCHiYbEKcSjyoVjzfxYwU(output)
0.02569426 BTC from
36XTMVtgJqqNYymsSvRonpUsbZRGkm1jvX(output)
0.024661 BTC from
3FUyM8CmUNDKwkPc2a2uQAuXFYq2UgdmR3(output)
0.02886544 BTC from
3AtbpAikJ6C11ZCHiYbEKcSjyoVjzfxYwU(output)

2 Outputs Created

0.00954687 BTC to
3MLwfZWkX77XGQeSk2z4jYunaxE9XQvou4(unspent)
0.12498368 BTC to
16BzHv28nRgG4sLPoEhUzm8mxNi3WyCBco(spent)

Value Transacted :0.13453055 BTC

6+confirmations 

9c6f28c72980b74a4ac0c029697fb428e0497c85b7bef0cbdcaa02a9877e6bae

1 Input Consumed

0.00008061 BTC from
1DJdPZikQbcWJbLQWWxqSeG1mUAAYucTPc(output)

1 Output Created

0.00007535 BTC to
36XTMVtgJqqNYymsSvRonpUsbZRGkm1jvX(unspent)

Value Transacted :0.00007535 BTC