Formed as a result of a Bitcoin hard fork in August 2017, Bitcoin Cash’s primary aim is to overcome the delays in transactions caused by Bitcoin’s 1MB block size limitations. Although scaling solutions such as SegWit2x tried to address Bitcoin’s block size issue, miners favoring larger block sizes caused the network to split. All holders of Bitcoin received an equivalent amount of BCH coins.
Bitcoin Cash helps scale Bitcoin’s overall capacity by increasing block sizes and lowering transaction fees. As of Oct. 21, 2021, BCH has a block size of 32 MB, with scheduled updates occurring every six months.