The creation of Bitcoin Cash is what is called a “hard fork.” The creators are releasing a completely new software that allows for eight times the number of transactions per block. This means Bitcoin Cash could process transactions faster.
Bitcoin Cash is not worth the same as bitcoin. As of this writing, a unit of Bitcoin Cash is valued around $240, but one Bitcoin is worth more than $2,700.
Like bitcoin, Bitcoin Cash relies on the community. It will only be successful if people decide en masse to create the blocks for the Bitcoin Cash blockchain. The first block was created Tuesday afternoon.