What is Bitcoin Cash?

Meredith Davis
Jun 26, 2018 · 2 min read

Hold up. Aren’t Bitcoin and Bitcoin Cash the same thing, like Ethereum and Ether? Well, that depends on when a person first bought their Bitcoin. Anyone who held Bitcoin before Bitcoin Cash split from Bitcoin on August 1st, 2017 now has an equal amount of Bitcoin and Bitcoin cash. That’s because on that date, a decision was made to fork, or split the project because a general consensus about the modifications to the system couldn’t be reached. The folks that thought it should continue unaltered just kept truckin’, and the folks that thought it should alter in specific ways to address certain issues essentially made an exact copy of Bitcoin and then made their changes. Don’t worry — it was all above board and legal. It was democratization in progress! The good news is that people holding Bitcoin at that time now have both! If you held 50 Bitcoin, after August 1st you then held 50 Bitcoin plus 50 Bitcoin Cash.

Bitcoin cash took what was working well and improved on it, with some important changes that were stalling the original Bitcoin system. The increased block size creates faster transactions, faster confirmations and better long-term scaling without sacrificing reliability or stability. The changes also allow for lower transaction fees, making it easier to use for daily, small purchases. It is a popular cryptocurrency with active trading across many major exchanges. And of course, it continues the decentralized nature of the original framework.

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Meredith Davis

Written by

GM of Enterprise at Cred

AcreApp

AcreApp

Acre is the simplest all-in-one cryptocurrency investing platform. To learn more, visit www.getacre.io

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