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Sponsored Advertise here Turn off ads. Request URI. Circulation 19,, BCH 0? Market cap 5. Dominance 0. Blocks , 0? Transactions ,, 0? Outputs ,, 0? Addresses 22,, 0? All time Blockchain size Network nodes 1, 0? Latest block , 0? Difficulty ,,, 0? SLP tokens , 0?
SLP transactions 2,, 0? Mempool Transactions 1, 0? Transactions per second 1 0? Outputs 6, 0? Fees 6. Size 1 MB 0? Suggested transaction fee 1 satoshi per byte 0? Blocks 0? Transactions per second 0. SLP transactions 7, 0? SLP tokens 3, 0? Volume , BCH 0? One potential reason for this maneuver is to allow the larger digital currency community a chance to voice its support for one coin option over the other by its trading actions.
The first Bitcoin fork occurred on August 1, , resulting in a split between Bitcoin and Bitcoin Cash. The original split between Bitcoin and Bitcoin Cash was motivated by philosophical and technical disagreements on the most effective way to increase the currency's transaction limits. Bitcoin Cash proponents, including Jihan Wu, Craig Wright, and Roger Ver, argued that the easiest way to scale upwards would be to increase the size of a block—thereby allowing faster and cheaper transactions, but increasing the storage costs for network nodes.
On the opposite side, small block proponents like Blockstream advocated for smaller blocks, with small transactions handled in off-chain solutions like the Lightning Network. Since the two sides could not come to an agreement, the large-block side used a hard fork to create their own, separate version of bitcoin, although they failed to attract a majority of the original network's nodes or miners.
A hard fork is a protocol upgrade to a blockchain network that is incompatible with older versions of the software. This is different from a soft fork, where older versions are able to interact with the new protocol. Since a hard fork rejects any block that still uses the old rules, a hard fork effectively creates a new network with a separate cryptocurrency.
Any wallet address with a balance at the date of the fork will later have equal amounts of cryptocurrency on both networks. During a hard fork, new coins are assigned to any wallet address that had a balance at the date of the fork, even if the wallet software is not capable of recognizing them. The easiest way to claim new coins is by importing your private keys to a wallet that is compatible with both cryptocurrencies. As always, users should take utmost care to avoid phishing attacks and ensure that their software is genuine and reputable.
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Personal Finance. Your Practice. Popular Courses. Table of Contents Expand. Table of Contents. How Bitcoin Cash Split. Key Takeaways In the world of cryptocurrencies, a "hard fork" occurs when an existing blockchain splits into two. The original fork maintains the original protocol and ledger while the new fork implements certain policy changes, upgrades, or technical differences.
After a blockchain forks, any wallet that had the original cryptocurrency will have equal amounts on both networks. Bitcoin Cash was originally a hard fork off of Bitcoin. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
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