Bitcoin survives its first ever hardfork also leading to the creation of Bitcoin Cash

The hard fork that resulted in the creation of Bitcoin Cash was the culmination of a long-standing debate within the Bitcoin community over how to best scale the network. As Bitcoin grew in popularity, it became clear that the network’s ability to process transactions was limited by the size of blocks, which were capped at 1MB. This limitation led to increased transaction fees and slower processing times during periods of high demand.
 

A segment of the community advocated for larger block sizes to accommodate more transactions, while others believed that such changes would compromise the decentralized nature of the network and lead to increased centralization. The disagreement eventually led to the hard fork, with Bitcoin Cash proponents increasing the block size limit to 8MB, allowing for more transactions to be processed at lower costs.
 

Bitcoin Cash claimed to be a version of Bitcoin that was more focused on being a transactional currency rather than a store of value. It sought to fulfill the original vision of Bitcoin as a peer-to-peer electronic cash system, as described by Satoshi Nakamoto, the pseudonymous creator of Bitcoin.
 

Despite the initial uncertainty, Bitcoin survived its first hard fork, proving the resilience of its underlying technology and the strength of its community. In the years following the hard fork, Bitcoin continued to thrive and maintain its position as the leading cryptocurrency by market capitalization. Bitcoin Cash, meanwhile has crashed and has very little support or users today.