Copyright © 2017-2018 LHCrypto
All rights reserved.

Articles

The situation around Bitcoin Cash hardfork stabilizes

11/20/2018
|
  • Bitcoin_Cash_hardfork
Articles list

The main event of last week was Bitcoin Cash hardfork, which led to the emergence of a new coin. Cryptocurrency exchanges were able to determine which of the assets would carry the BCH ticket, and begin trading new tokens. However, the process is not yet fully regulated.

Features of the fork of November 14

Usually, hardfork is carried out in order to make changes to the blockchain, after which one of the branches is simply destroyed. However, this time the traditional script was destroyed. The nChain company team decided to create a new coin.

As a result, everyone who owned Bitcoin Cash became the owner of two tokens - BCH ABC and BCH SV. Moreover, there was a heated discussion between the development teams, which even led to hacker attacks and verbal skirmishes. The controversy raged around the following questions:

  • BCH ticket;
  • the title of “true Bitcoin Cash”;
  • the attention of miners.

It is on their decision that the value of each of the assets depends. Cryptocurrency exchange put an end to the dispute. Most of them agreed to support both tokens. However, the BCH ABC team received a palm. It was that one that retained the BHC ticket and the former name Bitcoin Cash. Then the question was decided by public opinion, and then BCHSV lost again. As the figures show, for one coin they gave $ 88.73. ABC is rated much higher, $ 240.

The problem for SV was that not a single wallet now supports its full protection. This means that the same token can be resold an unlimited number of times. The blockchain itself was also quite unstable. As a result of the “reorganization attack”, another vulnerability was revealed. Now there may be a delay or even cancellation of transactions. Moreover, experts admit that these are consequences of intentional actions of developers.

The situation is confusing, and its outcome is not yet clear. Thus, the Kraken exchange, although they allowed BCH SV to trade, issued an official warning. It states that this asset does not comply with its rules, and in normal conditions, it could not be admitted to listing. Virtually all trading platforms massively prohibit replenishing and withdrawing funds in the old and new versions of Bitcoin Cash

Are you ready to start?
Open Account Be a Partner

LH-CRYPTO is an online service for crypto-traders

LH-CRYPTO is an online service for crypto-traders. The service is available to everyone, except for the citizens of particular countries and several categories of people listed in the License Agreement. LH-CRYPTO is a free software for making conversion operations with CFDs on various financial assets nominated in cryptocurrencies.

The project does not manage funds and does not guarantee profits. The project only offers a service that allows to make conversion operations with cryptocurrencies on a specially configured software.

This website is maintained and supported by the following legal body:

LARSON AND HOLZ IT LTD

All the settlements in this project are processed solely in cryptocurrencies. Conversion operations are processed on the terms of margin trading without a direct supply of underlying assets. According to the generally accepted term, these operations are called operations with OTC (over the counter) CFDs (contracts for difference).

Trading with OTC CFDs involves considerable risks. We recommend you pay the utmost attention to both theory and practice of margin trading before making any of such operations.

The services provided by this project are not available for: residents of USA, North Korea, Sudan and Syria.