Bitcoin founders and decision makers have not reached to a conclusion today and as a result, Bitcoin currency has split into two cryptocurrencies, Bitcoin and Bitcoin Cash, according to a report published by Business Insider.
Bitcoin Cash is already the third largest crypto currency followed by Bitcoin and Ethereum. After the split, Bitcoin market cap is now $44 billion and Bitcoin Cash is $7 billion, according to https://coinmarketcap.com/. Other popular crypto currencies include Ethereum, Ripple, Litecoin, NEM, and Dash.
Bitcoin was one of the first crypto currencies announced by Satoshi Nakamoto in 2008 as “A Peer-to-Peer Electronic Cash System”. Bitcoin uses blockchain technology to store and transfer digital transactions and allows people to pass traditional banking system to transfer currency.
Blockchain involves smart contracts and a digital wallet. A smart contract is a transaction details distributed to all computers called miners on the network. A digital wallet is used to store and transfer currency.
New to Bitcoin? Check out this video Blockchain for dummies.