What is Bitcoin Cash?
Bitcoin Cash (BCH) is a relatively recent hard fork of Bitcoin that was brought about in 2017 by a group of Bitcoin activists and heavily promoted by Roger Ver, who felt like Bitcoin had become more of a digital investment rather than a transactional currency. They’ve increased the block size from 1MB to 32MB, allowing more transactions to be processed at a lower cost.
What is a hard fork?
A hard fork is a change of protocol that creates a modified but nearly identical version of a cryptocurrency without backward compatibility. It is usually done to bring radical changes that are otherwise impossible to make, which was the case with Bitcoin Cash.
Why Bitcoin Cash?
As a fork of Bitcoin, BCH keeps many of its useful features. It makes transactions cheaper and faster, but no less reliable, as it still uses the same Proof-of-Work (PoW) algorithm as the original. Many people consider Bitcoin Cash the ultimate solution to Bitcoin’s problems, and it keeps attracting new followers all the time.
BCH & BCV
Bitcoin Satoshi’s Vision (BSV) is the fork that formed in 2018 after a conflict between two factions in the Bitcoin Cash community led by Roger Ver and Craig Wright. As a rival to BCH, it aims to fulfill Satoshi Nakamoto’s original vision of Bitcoin’s whitepaper by maintaining a stable network, increasing capacity, and instilling confidence among companies that utilize the BSV blockchain. They’re aiming to increase the block size limit to 1TB in two years.
Where to store Bitcoin Cash?
Magnum Wallet supports both BCH and BSV and provides you with easy management of your digital assets, as well as an instant built-in exchange to help you navigate between your investments. We offer a fully decentralized way with which only you can control your private keys and funds.
