{"content":"Blockchain scalability In 2017, Bitcoin was suffering from long transaction confirmation times and growing transaction fees, detracting from its initial premise of being near-instant payments with very low fees. Before the creation of Bitcoin Cash, there was a strong debate in the Bitcoin community about the implications of increasing the block size limit. Since Bitcoin is decentralized, proposed changes to the protocol require widespread agreement. Therefore, all network nodes need to reach consensus when making changes and updates to the Bitcoin software. Bitcoin Cash was presented as a more scalable cryptocurrency, with reduced transaction fees and confirmation times. The BCH community argues that the project is more in line with Satoshi Nakamoto’s proposal of a peer-to-peer electronic currency. Mainly because the altcoin offers a faster and cheaper payment system that might be more suitable than Bitcoin for daily use. Shortly after the Bitcoin Cash fork, the original Bitcoin blockchain went through a long-waited soft fork upgrade to implement a technology known as SegWit (Segregated Witness). Such an upgrade was created in 2015 by Bitcoin developer Pieter Wuille. It was implemented on the Bitcoin network to address network congestion and other scalability issues. The SegWit soft fork was planned before the BCH hard fork, but the Bitcoin Cash proponents believed that SegWit was an inferior alternative to increasing the block size limit. The Bitcoin Cash fork from Bitcoin was supported by some notable members of the blockchain industry, including Jihan Wu (co-founder of Bitmain) and Roger Ver (CEO of Bitcoin.com). #BitcoinCash #BTC $BTC {future}(BTCUSDT)","images":[],"tags":[],"tradingPairs":["BTC/USDT"],"quotearticleid":0}