The full name of Bitcoin Cash (BCH) is Bitcoin Cash, which is a new encrypted digital asset launched by mining pool ViaBTC based on the Bitcoin ABC scheme.

On July 21, 2017, the Bitcoin bifurcation scheme BIP91 has obtained the support of the entire network computing power, and it was agreed to upgrade the Segregated Witness first, and upgrade the block size of the underlying blockchain within the next 6 months to 2M. However, a "spoiler" appeared - ViaBTC, a mining pool under the mining giant Bitcoin Continental, prepared a hard fork system to launch "Bitcoin Cash" based on the original Bitcoin chain.

Project Highlights
On-Chain Scaling - Bitcoin Cash follows Satoshi Nakamoto's roadmap for global adoption through on-chain scaling. As a first step, the block size limit has been made adjustable, increasing it to 8MB by default. Research to allow future substantial block size increases is ongoing.

New Transaction Signature - The new Signed Hash (SigHash) type provides replay attack protection, improves hardware wallet security, and also solves the quadratic hashing problem.

New Difficulty Adjustment Algorithm (DAA) - Responsive proof-of-work (PoW) difficulty adjustment allows miners to migrate from the old Bitcoin chain to the new chain at will, while providing protection against excessive fluctuations in computing power.

Decentralized development - there are several software implementations provided by independent development teams, the future is safe. Bitcoin Cash is resistant to political and social attacks on protocol development that no single team or project can control. The bitcoin-ml mailing list is a good platform for cross-development team collaboration to implement protocol changes.

Application scenario

Fast Transactions
By design, the Bitcoin Cash network is set up to process transactions quickly and with little cost.

Unlike the original Bitcoin blockchain, which was limited to 1MB blocks and replacement fees, Bitcoin Cash blocks are 8MB. Upgrading to larger blocks means miners can validate all transactions, not just the ones with the highest fees. Larger blocks help maintain space in the BCH mempool and fast confirmation of transactions.

Affordable for Customers and Merchants
Bitcoin Cash transactions are quickly mined - even with minimal fees. Since more transactions fit in an 8MB block, there is less competition to ensure your transaction is confirmed in the next block.

Low fees for consumers mean low fees for merchants. Merchants can start accepting bitcoin cash payments without paying a monthly fee and a percentage of each transaction. Plus, currency exchange costs are non-existent; BCH is a global currency without borders.

Minimal Risk
One of the risks of accepting credit card payments, especially online, is fraud. Merchants are always at risk of chargebacks (returning funds from a consumer's credit card or bank account). Some financial institutions actually charge merchants a fee, for example, PayPal merchants charge $20 for refunds and charge the original transaction fee.

Bitcoin Cash transactions are measured in seconds and confirmed within minutes. You can send or receive money globally and the transaction is irreversible (even for fraudsters).

Easy to Implement
Small merchants only need their Bitcoin Cash address to start accepting BCH payments. Brick and mortar stores should have a device, such as a phone or tablet, so consumers can easily scan the QR code.

Commerce services like Coinbase Commerce make it even easier. Merchants can add CoinbaseCommerce as a payment option on the eCommerce platform, or as part of their existing checkout process. All you need is an email address and a phone.

Regular Upgrades
The Bitcoin Cash community is unique in its commitment to continue upgrading the network. Recently, developers released an upgrade to the BCH address format. BCH addresses now include "bitcoincash:" before the usual string of letters and numbers, so people scanning the barcode won't mistake it for a Bitcoin address. Mitigating this risk can help simplify and speed up payments.

Bitcoin Cash 2019 Year in Review

BCH has been successfully upgraded twice in 2019, adding the Schnorr signature function, and most transactions on the BCH network are now immutable. Additionally, BCH has seen increased adoption in 2019, an explosion of SLP tokens, a profusion of useful third-party applications, and has become a privacy competitor to Cashshuffle and Cashfusion.

Bitcoin Cash Growth in 2019
As the new year looms, BCH proponents have been discussing all the benefits the Bitcoin Cash network has to offer. Marketwise BCH, like most coins in the top 10, saw little movement, but is still above (+30%-40%) January 2019 prices. While the market has had an interesting year, the Bitcoin Cash ecosystem has grown considerably. From infrastructure to merchant adoption, BCH continued to experience rapid growth in 2019. In addition, the BCH chain has undergone two upgrades this year, which improved the overall functionality and moved towards the BCH roadmap. BCH supporters from around the world believe wholeheartedly that decentralized cryptocurrencies are paving the way for a global peer-to-peer electronic cash system.
Over the past two years, BCH has become a better peer-to-peer electronic cash system, far superior to BTC.

2019 Upgrade
Every six months, the BCH chain is upgraded to support the expansion and technical improvements of the Bitcoin Cash roadmap. On May 15, at block 582680, the BCH blockchain implemented the basic foundation of Schnorr signature functionality and Segwit recovery immunity. Schnorr signatures open the door to improved scalability and privacy, and the first upgrade creates the initial framework so developers can take advantage of the protocol. Segwit recovery changes allow network participants to recover funds accidentally sent to Segwit addresses.
The BCH chain was successfully upgraded twice this year.

Six months later, on November 15th, at block 609135, BCH developers implemented a Minimaldata rule change that removed the final bip-0062 scalability vector from the network. This change makes most BCH transactions on the network immutable. The November consensus change also included extending Schnorr signature support to OP_Checkmultisig(verify), which means that all signature checking operations will support Schnorr signatures.

Simple Ledger Protocol (SLP)
The Bitcoin Cash network has seen a surge in the use of Simple Ledger Protocol (SLP) this year as the SLP space has grown considerably stronger. So far, 6,141 tokens have been created using the SLP framework, accounting for 312,505 SLP transactions this year. Popular coins built on the BCH network this year include Honk Honk, Spice, Official Honk, ACD Coin, Flex Coin, Honestcoin, SAI, Drop, and Gocrypto. Many of these SLP tokens have gained value, and BCH proponents have seen the tokens grow in market capitalization.

Various Bitcoin Cash milestones and new applications
Bitcoin Cash fans, also saw the introduction of a marketplace called Bitcoin Marketplace, which allows people to Trading. Cryptophyl, a dedicated SLP exchange, launched this year, creating an SLP-centric marketplace for BLP-based pairs. A cryptocurrency exchange was also launched this year that also features the basic BCH base pair and supports the SLP token as well.
A new crypto resource has emerged in Barquisimeto Venezuela called Venezuelans, Bitcoin Cash House interested in learning about BCH and cryptocurrency interests.
The Bitcoin Cash House program is also expanding to many countries in Africa. A video game called Realmx was built this year on top of the Bitcoin Cash blockchain. BCH charity saw significant growth in 2019, with non-profit peer-to-peer food organization Eatbch celebrating its one-year anniversary. Eatbch has also made significant progress in Africa and the BCH community recently sponsored a trip for Eatbch representatives to Ghana.
Overall, the Bitcoin Cash network has experienced many developments and milestones this year, and people are excited about storage in 2020. When looking back at the growth of the BCH ecosystem over the past 12 months, it seems like a lot has happened. It's like new news is posted almost every day. Despite some criticism from critics online, supporters were very pleased with the achievement.

The difference between BCH and BTC

Bitcoin can be said to be the previous life of BCH, but after the fork, BCH has always been considered as a new direction of Bitcoin. BCH has larger blocks and can handle more transactions. If the block is too small, the processing speed cannot keep up with the number of transactions, resulting in congestion. This is also the most detailed difference between BCH and BTC. This also directly caused the handling fee of BCH to be much lower than that of BTC. Due to the slow transaction processing speed of BTC, there is a rule that whoever has the highest handling fee price will be processed first, and BCH is impossible for this to happen. . Since the concept of the BCH community is different from the core team of the current BTC community, simply speaking, BCH has little connection with BTC and has become a brand new currency.

BCH can be regarded as an "innovator" in Bitcoin. They agree that Bitcoin can increase the block size and that more projects can be implemented. They should use the latest technology on Bitcoin, but their radicalism also makes They were criticized, saying that they were profit-seeking miners who did not respect the will of Satoshi Nakamoto. They were like the reformers in history, full of passion but too radical.

Related information:
【Jiang Zhuoer Popular Science】The difference between BCH and BTC is not just the block size
https://www.chainnode.com/post/ 92169

Bitcoin vs Bitcoin Cash – What is a Bitcoin "fork"?
https://baijiahao.baidu.com/s?id=1658235726256308084&wfr=spider&for=pc

Bitcoin Cash (BCH) halving will be "catastrophic"
https://baijiahao.baidu.com/s?id=1648884912896004236&wfr=spider&for=pc