Bitmain, the largest mining pool and manufacturer of mining equipment, previously announced, that if BIP 148, a user-activated soft fork (UASF), should be activated, they will separate the Bitcoin Blockchain through a hard fork. This action would consequently create a whole new currency.
This new currency, Bitcoin Cash, would only be created if the BIP proposition saw the light of day, a prospect that was shut down by the activation of BIP91 (SegWit2X). However, ViaBTC, another major mining pool and trading platform, announced their regardless intentions to activate the hard fork. This means that Bitcoin Cash will probably become a reality on August 1st, and become its own currency, separate from the Bitcoin Blockchain. Bitcoin Cash is not a new or second Bitcoin, it will become just another altcoin in the industry.