A bitcoin fork focused on payments
About Bitcoin Cash
One fun term to learn about in the crypto space is a “fork.” Just like a new family can split off from the evolutionary history of animals, a fork in crypto is a new product that has diverged from a parent currency and become its own thing. Bitcoin Cash split from Bitcoin in 2017, over a disagreement about the philosophical purpose of digital currencies and the size of the blocks in Bitcoin’s blockchain. Bitcoin Cash is specifically focused on peer-to-peer transactions.
Some Bitcoin node operators back in 2017 lobbied for a larger block size in Bitcoin’s blockchain, which would allow the system to process more transactions, more quickly, for lower fees. The resulting product, Bitcoin Cash, has since become Bitcoin’s nimbler little sister, prioritizing fast-paced development of technological improvements, with shorter wait times for users. Larger blocks can, however, make it prohibitively expensive to become a node in a network, potentially compromising security compared to regular Bitcoin. Because it is less well-known and widely traded, Bitcoin Cash can also be more complicated to use in offline settings than regular Bitcoin.