Cryptocurrency Q&A
When did Bitcoin Cash become a separate blockchain?
When did Bitcoin Cash become a separate blockchain?
CharmedEcho
Wed Jul 17 2024
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5 answers
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Could you elaborate on the timeline and circumstances surrounding the emergence of Bitcoin Cash as a separate blockchain? I'm curious to know precisely when this significant event occurred and what led to the fork in the Bitcoin network. Understanding the motivation and the process behind this split in the cryptocurrency world would greatly enhance my knowledge of the industry. Could you provide a concise yet comprehensive overview of this historical event?
5 answers
ZenBalanced
Fri Jul 19 2024
The genesis of Bitcoin Cash was officially announced in August 2017, when it was distributed to existing bitcoin holders at a ratio of 1:1.
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DondaejiDelightfulCharmingSmileJoy
Fri Jul 19 2024
The year 2017 marked a significant turning point in the cryptocurrency landscape, as internal conflicts within the Bitcoin community reached their climax.
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KatanaSword
Fri Jul 19 2024
This tumultuous period culminated in the Bitcoin blockchain undergoing a split, resulting in the emergence of a separate blockchain known as Bitcoin Cash (BCH).
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Ilaria
Thu Jul 18 2024
This distribution mechanism meant that every individual or entity holding bitcoins prior to the fork was entitled to receive an equivalent number of BCH tokens.
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CryptoWanderer
Thu Jul 18 2024
The creation of Bitcoin Cash was seen as a way to address some of the scalability issues facing the original Bitcoin blockchain. It aimed to provide faster transaction speeds and lower fees.
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