The first version was called Exchange Server 4.0, to position it as the successor to the related Microsoft Mail 3.5. Exchange initially used the X.400 directory service but switched to Active Directory later. Until version 5.0 it came bundled with an email client called Microsoft Exchange Client. This was discontinued in favor of Microsoft Outlook.

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Like Windows Server products, Exchange Server requires client access licenses, which are different from Windows CALs. Corporate license agreements, such as the Enterprise Agreement, or EA, include Exchange Server CALs. It also comes as part of the Core CAL. Just like Windows Server and other server products from Microsoft, there is the choice to use User CALs or Device CALs. Device CALs are assigned to devices (workstation, laptop or PDA), which may be used by one or more users.[10] User CALs, are assigned to users, allowing them to access Exchange from any device. User and Device CALs have the same price, however, they cannot be used interchangeably.

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Microsoft had sold a number of simpler email products before, but the first release of Exchange (Exchange Server 4.0 in March 1996) was an entirely new X.400-based client–server groupware system with a single database store, which also supported X.500 directory services. The directory used by Exchange Server eventually became Microsoft's Active Directory service, an LDAP-compliant directory service which was integrated into Windows 2000 as the foundation of Windows Server domains.
The r/BitcoinCash subreddit is a forum dedicated to discussing the cryptocurrency Bitcoin Cash (BCH). The aim of this subreddit is to cultivate a space for constructive discussion about Bitcoin Cash. Intentionally disruptive behaviour and heavily off-topic discussion will be moderated accordingly. Please refer to the sidebar for the subreddit rules.
BCH is a cryptocurrency established as a result of the hard fork that took place to manage the scalability problem. Bitcoin Cash has a number of significant differences to Bitcoin: it is advertised as being faster and cheaper to use, the maximum block size is eight megabytes against one in previous Blockchain, and it has an emergency difficulty adjustment feature. Bitcoin Cash also uses 0-conf (or zero-conf) which allows for nearly instant transactions, meaning Bitcoin Cash transactions are almost always confirmed in the next block.

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Peer to peer (P2P) electronic cash is simply described as online money sent from one person to another without the need for a trusted third-party. As described in the original Bitcoin whitepaper by Satoshi Nakamoto, P2P cash makes use of digital signatures as part of the solution, but the main benefits are lost if a trusted third party is still required to prevent fraud. This makes P2P cash a trustless and safe way to transact without the need of intermediaries.

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The r/BitcoinCash subreddit is a forum dedicated to discussing the cryptocurrency Bitcoin Cash (BCH). The aim of this subreddit is to cultivate a space for constructive discussion about Bitcoin Cash. Intentionally disruptive behaviour and heavily off-topic discussion will be moderated accordingly. Please refer to the sidebar for the subreddit rules.

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Bitcoin Cash trades on digital currency exchanges including Bitstamp,[30] Coinbase,[31] Gemini,[32] Kraken,[33] Bitfinex, and ShapeShift using the Bitcoin Cash name and the BCH ticker symbol for the cryptocurrency. On 26 March 2018, OKEx removed all Bitcoin Cash trading pairs except for BCH/BTC, BCH/ETH and BCH/USDT due to "inadequate liquidity".[5] As of May 2018, daily transaction numbers for Bitcoin Cash are about one-tenth of those of bitcoin.[5]

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Yes! In 2017, the Bitcoin project and its community split into two. Perhaps the least controversial way to refer to each side is simply by their respective ticker symbols, BTC and BCH. While exchanges commonly refer to BTC as simply “Bitcoin”, Bitcoin Cash, usually represented by the BCH ticker symbol, is considered by its supporters to be a legitimate continuation of the Bitcoin project, and the version with the best chance of creating a globally adopted peer-to-peer electronic cash system.

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Peer to peer (P2P) electronic cash is simply described as online money sent from one person to another without the need for a trusted third-party. As described in the original Bitcoin whitepaper by Satoshi Nakamoto, P2P cash makes use of digital signatures as part of the solution, but the main benefits are lost if a trusted third party is still required to prevent fraud. This makes P2P cash a trustless and safe way to transact without the need of intermediaries.

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E-mail hosted on an Exchange Server can also be accessed using POP3, and IMAP4 protocols, using clients such as Windows Live Mail, Mozilla Thunderbird, and Lotus Notes. These protocols must be enabled on the server. Exchange Server mailboxes can also be accessed through a web browser, using Outlook Web App (OWA). Exchange Server 2003 also featured a version of OWA for mobile devices, called Outlook Mobile Access (OMA).

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Exchange Online was first provided as a hosted service in dedicated customer environments in 2005 to select pilot customers.[21] Microsoft launched a multi-tenant version of Exchange Online as part of the Business Productivity Online Standard Suite in November 2008.[22] In June 2011, as part of the commercial release of Microsoft Office 365, Exchange Online was updated with the capabilities of Exchange Server 2010.

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