Three years ago at approximately 2:14 p.m. ET, the first Bitcoin Cash blocks were mined. That day, block 478,558 was the last common block found, and six hours later Viabtc mined the first Bitcoin Cash block (nr 478,559). The course of history was changed ever since this point, as the scaling debate took the dispute to a whole new level.
Bitcoin Cash (BCH) proponents are celebrating the third anniversary of the chain split that took place three years ago on August 1st. The peer-to-peer electronic cash system has come a long way since then and many proponents have appreciated the project’s accomplishments.
Moreover, a free market currency like BCH is needed more than ever because governments and central banks worldwide have wreaked havoc on the world’s monetary system.
On August 1, 2017, cryptocurrency advocates everywhere were glued to their monitors when the first BCH block (nr 478,559) was mined by the mining pool Viabtc. The China-based mining pool also found the next block 478,560 shortly after.
When the chain split that afternoon on August 1, the BCH chain was equipped with 8MB blocks. In fact, the first BCH block was 1915175 Bytes or 1.9 MB in size, holding 6,985 transactions. Viabtc also left a message in the block’s coinbase parameter which said:
Welcome to the world, Shuya Yang!
By August 2, the BCH market was the third-largest by capitalization and for both blockchains, the transition was smooth. Since then there’s been a number of development improvements over the years.
Bitcoin Cash now has Schnorr signature capabilities, a 32MB block capacity, faster re-spending of
