Guides to Cryptocurrency Founders
4. Bitcoin Cash Founders Introduction
Bitcoin Cash has more than one founder. A group of developers from the Bitcoin community broke away and forked Bitcoin Cash from the Bitcoin blockchain after the Bitcoin Core team decided to use third party software, SegWit and the Lightning Network to bypass Bitcoin blockchain which critics said deviate from Bitcoin Founder, Satoshi Nakamoto’s Bitcoin development vision.
Read Bitcoin Cash Guide to know more about the reason for the fork.
On 1st August 2017, the change known as a hard fork happened and the Bitcoin Cash blockchain was born along with its own cryptocurrency, in short “BCH”. The split increased the block size of Bitcoin Cash to 8 megabytes and that increased the number of transaction its ledger can process, higher than Bitcoin and thus win in scalability since Bitcoin has only a 1 megabyte block size. Bitcoin Cash block size was further increased to 32 megabytes, along with the capability to add basic smart contracts on 15th May 2018.
The name Bitcoin Cash was originally proposed by Chinese mining pool ViaBTC in July 2017 and eventually accepted by the cryptocurrency community majority. Some groups of Bitcoin Cash supporters regularly use promotional slogan “Bitcoin Cash is Bitcoin” or “Satoshi's Vision“ to emphasize Bitcoin Cash is the true Bitcoin that follows Satoshi's Vision, not Bitcoin Core. Hence, there are some members of the Bitcoin Cash community that thinks Satoshi Nakamoto is the founder of Bitcoin Cash.
Bitcoin Cash had grown to become the cryptocurrency with the world's 4th largest cryptocurrency market cap of more than $22 billion USD as of 1st May 2018.