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Bitcoin Cash is a Bitcoin hard fork with a protocol update to address on-chain capacity issues. Bitcoin Cash aims to create a Bitcoin without Segregated Witness (SegWit) as a soft fork, with protocol updates done mostly through hard forks and without affecting Bitcoin's basic economic principles.
Bitcoin Cash (BCH) was published on August 1, 2017 as an improved version of the original Bitcoin Core software. The key improvement is that the block size limit has been increased from 1MB to 8MB. This basically enables BCH chain miners to execute up to 8 times more transactions per second compared to Bitcoin. This results in quicker, more affordable transactions and a significantly better customer experience.
The basic goal of Bitcoin Cash is to restore the fundamental characteristics of money that were present in the first version of the Bitcoin program. Over the years, these characteristics were filtered out of Bitcoin Core, and growth was stifled by various persons, groups, and enterprises participating in Bitcoin protocol development. As a result, Bitcoin Core is now unusable as currency due to rising high transaction fees and transfer delays that take hours to complete. This is due to Bitcoin Core's 1MB block size restriction, which prevents it from handling a high number of transactions. Bitcoin Cash is essentially a community-driven update (also known as a hard fork) of Bitcoin that expanded the block size to 8MB, resolving the scaling difficulties that plague Bitcoin Core today.
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