Bitcoin cash was established in August 2017 as a hard fork of bitcoin.
It was created by miners after disagreements within the bitcoin community over limiting the number of transactions, bitcoin cash aims to provide a fast, cheap way of sending money across the world.
On their website, it reads
"Bitcoin cash brings sound money to the world, fulfilling the original promise of Bitcoin as 'peer-to-peer electronic cash'.
“Merchants and users are empowered with low fees and reliable confirmations."
“The future shines brightly with unrestricted growth, global adoption, permissionless innovation, and decentralised development.”
While bitcoin cash is a lot similar to bitcoin, there are a number of differences. These include an increased block size and no SegWit integration, the controversial upgrade that was added to bitcoin to enable more transactions to be processed.
Bitcoin cash's price peaked on December 20th last year, when it reached $4,355 and though it has since dropped to just under $1,300, it is still fourth biggest crypto on the market, according to CoinMarketCap.
The digital asset’s market capitalisation now sits at $21.8billion - down from its all time high of $73.5billion.
