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The bitcoin cash currency is the" daughter " of bitcoin, which was born in 2017.
The block size in the Bitcoin system is limited to a limit of 1 MB. With the growing popularity of bitcoin, the number of transactions increased, the speed of calculations fell significantly and a queue appeared in the system. In May 2017, the situation reached the point that users had to wait for the execution of transactions for several days. Of the two possible ways to solve the problem, the first one involved removing the 1 MB limit (BitcoinUnlimited).
Many miners were in favor of this option, but most were against it, believing that this would lead to the centralization of the system and increase control by large miners.
The second method is to store part of the information outside the block chain. At the same time, more transactions should fit in the block and the data transfer speed should increase. This method is called SegregatedWitness (SegWit). As a result, a compromise option was developed - the SegWit2x protocol. The size of the blocks was increased to 2 MB and some of the information was taken out of the blockchain. 95% of miners voted for this decision.
A group of dissenting developers led by Amori Sechet, an ex-Facebook engineer, announced the creation of a separate currency, BitcoinCash. They increased the block size to 8 MB and abandoned the use of the new protocol. The forced branching of bitcoin (hard fork) took place on August 1, 2017.
At the same time, the coins actually "split" - all bitcoin owners received a similar number of new Bitcoin Cash coins. Bitcon Cash uses a different software than Bitcoin, but it differs only in the block size and the frequency of changing the cipher. Transactions can be made from the same wallet where bitcoins are stored, using the same access keys.
The number of BitcoinCash coins in circulation is slightly more than 17 billion, the bulk of them was formed as a result of a hard fork with bitcoin, the coin rate is 1200 -1300 USD per unit, depending on the site, the market capitalization is more than 22 billion dollars. Bitcon Cash BCH) ranks fourth in capitalization among cryptocurrencies. The volatility of the currency exchange rate is 4 times higher than that of bitcoin.
Not all cryptocurrency exchanges supported the new currency, but by the end of 2017 it began to be traded on such large platforms as Binance, Bittrex, Poloniex. Support Bitcoin Cash and the main exchangers.