Bitcoin Cash is a hard fork of the Bitcoin blockchain. Forked in August 2017, Bitcoin Cash has adopted the stance of viewing Bitcoin as a “peer to peer electronic cash system” in the literal sense of the 2008 whitepaper. As such, Bitcoin Cash proponents view the core value proposition of Bitcoin to be fast and cheap peer-to-peer payments and advocate for an increased block size and zero-confirmation transactions to achieve this goal. Bitcoin Cash is one of the leading coins by market cap.
A faction of miners, developers, and influencers in the Bitcoin community had been advocating for larger block sizes ever since Bitcoin’s block size was locked at 1mb. As bitcoin gained popularity early in 2017, transaction fees and speeds became less favorable for those using bitcoin. This caused the argument surrounding block size to heat up as bitcoin began making new all-time highs in the summer of 2017. In an effort to create a new asset with larger blocks, Bitcoin Cash was launched on August 1st, 2017 as the result of a hard fork of the Bitcoin protocol.
The forked protocol increased the block size from 1mb to 8mb which allowed the protocol to confirm more transactions faster. In 2018, Bitcoin Cash’s block size was raised again from 8mb to 32mb per block. Beyond bitcoin cash’s goal of on-chain scalability, the project aims to implement technological improvements quicker than the developers of Bitcoin. Due to this, the Bitcoin Cash protocol has planned upgrades that are implemented every 6 months.