"Blockchain Introduction Tutorial" said that the Bitcoin protocol stipulates that a block is born in an average of 10 minutes. The block size is only 1MB and can only contain more than 2000 transactions at most. In other words, the Bitcoin network can only process more than 2,000 transactions every 10 minutes. If you convert, the processing speed is 3 to 5 transactions per second.
There are so many Bitcoin transactions in the world, but the blockchain can only process 5 transactions per second, which has become a bottleneck restricting the development of Bitcoin.
There were early calls for reforming the Bitcoin protocol and increasing the processing speed. This matter got a bit of eyebrows in August 2017, when the blockchain was forked and a new protocol was born, called Bitcoin Cash (BCH for short). The other aspects of this new currency are consistent with Bitcoin, that is, the size of each block has been increased from 1MB to 8MB, so the processing speed is increased by 8 times, and the handling fee is much lower. The agreement is a fork of the original blockchain, so the person who held Bitcoin at that time was equal to one person receiving the same amount of BCH.
BCH is equivalent to the creation of a new currency, and some people have proposed that the block size of the original Bitcoin is increased to 2MB, which is called SegWit2x. This proposal was originally scheduled to be implemented in November 2017, but at the last moment due to lack of consensus, it was cancelled, and it is still under discussion.
