The recent Bitcoin Cash hard fork has left the entire crypto world wondering about the fate of the controversial cryptocurrency. Gladly, ChangeNOW is here to clear up some of the doubts.
Bitcoin Cash hard fork updates
On November 15th, a major event in the cryptocurrency world has taken place. Bitcoin Cash hard fork made the fourth largest cryptocurrency split into two chains – Bitcoin ABC and Bitcoin SV. This happened on the block number 556767. The events surrounding the split have been named “BCH hash war” in crypto community. Indeed, there was everything – scandals, threats, Twitter propositions and angry emails thrown from one side of the split to another.
Majority of the users and companies supported Bitcoin ABC which resulted in 74% in favour of this chain compared to the 8% for Bitcoin SV. According to this, the starting price of the coins was $320 for BCHABC and 80% for BCHSV.
The main BCHSV supporter and ideological leader Craig Wright stated that Satoshi’s Vision is going to use the hash power of former Bitcoin Cash for chain reorganisation and empty ABC block mining. According to Wright, this will make Bitcoin ABC supporters change the sides.
Roger Ver, head of Bitcoin.com and equally controversial leader of Bitcoin ABC, made a decision to use the BTC mining hash rate to support the update and resist SV attacks.
As of printing time, the main cryptocurrency exchanges have already made BCH market unavailable and converted the balances of their users to Bitcoin ABC and Bitcoin SV.
ChangeNOW, a leading non-custodial cryptocurrency exchange, has been monitoring the hard fork with great attention. We are planning to list both Bitcoin ABC and Bitcoin SV for the convenience of our users. Both coins will be available for buying, selling and trading at the greatest rates.