Understanding the Bitcoin network fork: BTC and BCC

By Daniel Zo Bitcoin, Fork, Segwit, BTC, BCC, Bitcoin Cash Read Comments

We have often covered the controversies surrounding block size debate, a possible fork on the bitcoin network, and the inability of miners to reach clear consensus in the past. On August 1st, due to the fact that consensus was not reached throughout the network, a hard fork took place, thus separating the bitcoin network as we know it, into two separate versions: Bitcoin Cash and BTC.

To put things better into perspective, until the 1st of August this year, Bitcoin Core and Bitcoin Cash were the same, operating on the very same network as well. The event broke these two digital currencies into 2 separate ledgers, and due to the fact that cryptocurrencies are represented by their own ledger, users woke up to having double the amount: once in BTC and once in BCC.


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