THE STORY OF BITCOIN CASH
So where does Bitcoin Cash come from?
It all began when Bitcoin became hugely popular around the world. The more popular it became, the more traffic it caused, creating problems that various developers were trying to solve.
Two solutions emerged, but unfortunately that split Bitcoin developers into two groups on which solution was best.
Ultimately, neither side could come to an agreement that could unite the Bitcoin community. And eventually, one group decided to venture off from the “original” Bitcoin blockchain.
So, on August 1st, 2017, they created a new version of Bitcoin: Bitcoin Cash (BCH)!
From that day forward, the original Bitcoin blockchain was split into two different transaction streams that followed its own rules.
HOW IS BITCOIN CASH DIFFERENT FROM BITCOIN?
Bitcoin Cash (BCH) is just like Bitcoin (BTC), except that it can process transactions quicker and will never have high fees, even when there is high traffic. It’s called Bitcoin Cash because it moves like cash.
BCH works just like BTC, but remember that you can’t send BTC to a BCH address; although they sound the same, they are two different currencies.
- If you’re sending funds to a BCH address, be on the lookout for addresses that start with a “q”. Sometimes they will have a prefix: “bitcoincash:qp…”
- BTC addresses will start with a number like “1” or “3”