During the development of classic Bitcoin, few thought the cryptocurrency would become so in demand. Programmers think that 1MB per block is more than enough. However, with the rapid growth in popularity comes a systemic burden. Space in blocks is very scarce and transaction speed is decreasing. The transfer takes about half a week to arrive.
Back in 2017, Bitcoin’s developers decided to upgrade their protocol using SegWit2x technology, which meant that the performance of the mainnet had to be improved. To reflect this global change, all members of the network must agree to adopt the new standard. However, some miners did not like the idea and decided to increase the block size from 1 MB to 8 MB. As a result, in August 2017, Bitcoin Cash forked from Bitcoin.
On November 15, 2018, the Bitcoin Cash blockchain split again into two forks – BCHABC and BCHSV. Now, both networks are being developed by competing teams. BSV wants to restore the Satoshi Nakamoto protocol, while BCH (ABC) decided to stick to the original Bitcoin Cash route.