BCHBack to Glossary
BCH stands for Bitcoin Cash, a cryptocurrency that came into existence in 2017 as a descendant of the classic Bitcoin. The main difference between Bitcoin Cash and Bitcoin is that the BCH block size is 8MB, whereas Bitcoin’s block size is 1MB. The difference in block size allows for more transactions in a shorter time-span, tackling the main challenges faced by Bitcoin, which centre around scalability. BCH does not come without its own set of challenges. This Bitcoin fork has raised concerns over the potential for monopoly. Bigger blocks require more memory, which means a more significant, more unwieldy blockchain that only those with the resources can run. This goes against everything the blockchain and cryptocurrency community are all about which is a decentralised, consensus-driven economy.
Found the definition you’re looking for?
If you feel we’ve missed a term; let the Traders Expert team know and we’ll include it in our Glossary.