It’s actually quite silly but it can cause great damage. It’s mainly mistakenly sending Bitcoin to a Bitcoin Cash address or the opposite which will result in losing your money (currency).
How did it all start with Bitcoin Cash?
With the upraise of Bitcoin there were some problems that arose with it, so something had to be done in order to cope with the increasing number of people using it.
There were tons of debates and arguments on the changes that happened which caused the ‘‘forking’’ of Bitcoin in two different versions. The first one, Bitcoin, that we all know so much about, and Bitcoin Cash which is a cryptocurrency with many differences from Bitcoin.
Changes in the software needed to be made, which is not something easy and the groups developing and using them needed to agree on one thing in the end, which they couldn’t.
What was the disagreement?
The root problem was the limited ways in which transactions were processed, which was something that was working in the beginning but because of all of the people using Bitcoin, something needed to be done. These limited ways were a huge restriction. These restrictions and the disagreements on how to lift it was the reason Bitcoin Cash was made. One group of the Bitcoin core developers decided that the groups of transactions should be increased. The other group that was lead by Amaury Séchet, ex-Facebook developer, didn’t think this was a good idea and came up with a different solution. Their new design was applied as Bitcoin Cash.
What was the idea behind this ‘‘new design’’?
The group of Amaury Séchet idea was to increase the upper limit on the block size from 1MB to 8MB. On the 1st of August, 2017 this idea became a reality and Bitcoin Cash was officially created.
Learned something new about Bitcoin Cash? Are you now interested in buying some? Or you might already have? If you are wondering where you can spend it – we have the answer for you.
Pay for your cleaning services using Bitcoin Cash
As many of you now know, Monster Cleaning has decided to accept crypto as payment.