Bitcoin Cash Website

Bitcoin Cash Whitepaper

Bitcoin Cash: Fast, Global Money for Everyday Transactions

Discover Bitcoin Cash (BCH), a decentralized, peer-to-peer digital currency engineered to function as fast, reliable global money. Launched in 2017, BCH emphasizes quick transactions, low fees, enhanced privacy, and supports larger block sizes to improve scalability. As a permissionless system, Bitcoin Cash operates independently of any central authority or third-party intermediaries, truly embodying the spirit of decentralized finance.

The Genesis of Bitcoin Cash: A Vision for Scalability

Bitcoin Cash emerged from a fundamental disagreement within the Bitcoin community about how to handle growing transaction volumes. As Bitcoin's block size limit (1MB) led to slower transactions and higher fees, a segment of developers and users sought a different path. They altered Bitcoin’s codebase to create a new network—resulting in a **"hard fork"** from Bitcoin (BTC) on August 1, 2017. This event created two separate blockchains with distinct visions: Bitcoin (BTC) focusing on Layer 2 solutions for scalability, and Bitcoin Cash (BCH) prioritizing on-chain scaling through larger block sizes.

A year later, in November 2018, further ideological and technical disputes led to another split within the BCH ecosystem, dividing it into Bitcoin ABC (which continued as Bitcoin Cash) and Bitcoin SV (Satoshi Vision), each pursuing different technical paths.

Key Milestones in Bitcoin Cash's Journey:

• August 1, 2017: Hard Fork and Launch: Bitcoin Cash officially split from Bitcoin, creating a new chain with an 8MB block size limit (later increased).
• November 2017: Difficulty Adjustment Algorithm (DAA) Update: An important update to the DAA was implemented to ensure more stable block times and mining profitability.
• November 2018: Hash War and Split (Bitcoin SV): A contentious hard fork occurred, leading to the creation of Bitcoin SV (BSV) and further solidifying BCH's distinct identity.
• May 2020: Schnorr Signatures and OP_CHECKMULTISIG: An upgrade introduced Schnorr signatures, improving privacy and efficiency for multi-signature transactions, and re-enabled the OP_CHECKMULTISIG opcode.
• November 2020: ASERT DAA Activation: The ASERT (Absolute Difficulty Adjustment Algorithm) was adopted to provide a more responsive and stable difficulty adjustment, further improving network reliability.
• 2021: Renewed Focus on Utility and Adoption: Bitcoin Cash continued to be promoted as a viable payment option for everyday transactions, with efforts to increase merchant adoption and wallet support.
• 2022-2024: Infrastructure Development and Community Initiatives: Ongoing development focused on improving the underlying infrastructure, enhancing privacy features, and fostering community-driven projects aimed at expanding BCH's use as electronic cash.

Why Bitcoin Cash Remains a Relevant Digital Currency:

Bitcoin Cash continues to serve its purpose as a fast and affordable digital currency, appealing to users who prioritize on-chain scalability and direct peer-to-peer payments:

• Low Transaction Fees: Significantly lower fees compared to Bitcoin, making it practical for small and frequent transactions.
• Fast Confirmations: Quicker transaction processing times enhance its usability as a medium of exchange.
• Scalability: Larger block sizes allow for a higher volume of transactions to be processed directly on the blockchain.
• Decentralized and Permissionless: Operates without central control, embodying the core principles of cryptocurrency.
• Enhanced Privacy (Optional): Features like CashFusion offer improved privacy for transactions.

As a direct descendant of Bitcoin, Bitcoin Cash continues to champion the original vision of a peer-to-peer electronic cash system, aiming to be a practical and accessible currency for global commerce.