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The Bitcoin Cash hard fork occurred on August 1, 2017, as a significant event in the cryptocurrency world. This hard fork was a result of disagreements within the Bitcoin community over scaling solutions. Bitcoin Cash aimed to increase the block size limit to 8MB, allowing for more transactions per block and lower fees compared to Bitcoin. This change was intended to improve scalability and make the network more efficient for everyday use. The fork led to the creation of a new blockchain and cryptocurrency, Bitcoin Cash (BCH), which has since developed its own ecosystem and market presence. Many users and miners supported this move, viewing it as a necessary step to address Bitcoin\“s limitations. Overall, the Bitcoin Cash hard fork on August 1, 2017, marked a pivotal moment in the evolution of digital currencies. |
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