Bitcoin Cash also is known as BCC or BCH is a twin brother of bitcoin. BCC is a peer-to-peer electronic cash system that has improved several characteristics of bitcoin.
The forking of the two cryptocurrencies took place at the beginning of August 2017 becoming one of the most discussed events in the entire history of digital currency. Some people dreaded it, the others were very enthusiastic, and so far, it is hard to say which of the two coins is winning the competition for mass adoption.
The fork is a term borrowed from programming to refer to manipulations with the code such as copying it and releasing a new version of software with some slight changes or improvements in it. Commonly, the forked version is looked at as the perfected version compared to the original.
The bitcoin experience has shown that decentralization when it comes to mining, is extremely idealized and monopolized by large pools and farms. The forking was supposed to change the situation by splitting the bitcoin blockchain into 2 separate chains, and therefore creating two different digital currencies. In its essence, BCC is an altcoin that follows its predecessor BTC much more closely than all others.
Similar to many altcoins (e.g., LTC, DODGE) BCC has several functional and operational improvements such as bigger block-size, 8MB compared to bitcoin’s 1MB, and consequently faster transaction processing speed. Although, before the fork, the entire migration process seemed somewhat complicated and caused a whole bunch of scam services with fake wallet software to emerge, the price of the new coin scaled up pretty fast.
Bitcoin Cash is often called a breakthrough in crypto mining. It made crypto mining more profitable for individuals by upgrading bitcoin’s source code and improving its features.