What is the Bitcoin Cash (BCH) hard fork?

At approximately 4 pm EDT at block height 504031, the Bitcoin Cash ( BCH) network successfully hard forked. The fork is a change to the decentralized currency’s consensus rules and aims to upgrade the network’s Difficulty Adjustment Algorithm (DAA). Also read: Bitcoin.com Wallet Celebrates 500,000 Downloads in Three Months

What is Bitcoin Cash?

Bitcoin Cash was the result of this hard fork. It split off from the main blockchain in August 2017, when Bitcoin Cash wallets rejected bitcoin transactions and blocks. Bitcoin Cash remains the most successful hard fork of the primary cryptocurrency.

Which cryptocurrency is the most successful hard fork?

Bitcoin cash remains the most successful hard fork of the primary cryptocurrency; as of June 2021, it is the eleventh-largest digital currency by market cap. 1 It is through this forking process that various digital currencies with names similar to bitcoin have been created. These include Bitcoin Cash and Bitcoin Gold, among others.

What is a bitcoin fork?

Forks are typically conducted in order to add new features to a blockchain. Bitcoin has undergone many different forks since it was first introduced in 2009. Each of these splits has created new versions of the bitcoin currency. Bitcoin was released as an open-source code, and it was intended to be improved upon over time.