BCH Hash War Continues While Exchanges Make High-Risk Moves Regarding Bitcoin Cash’s Future
BCH Hash War Continues While Exchanges Make A High-Risk Move
Four days have passed since November 15th Bitcoin Cash upgrade which marked the start of hash wars. While the battle between BCH ABC and BCH SV still rages on, there has been new development within the ecosystem which is worthy of mentioning.
A Successful Upgrade
Considering how the hash war turned the blockchain upgrade to a spectacle that has attracted the attention of numerous observers, it is easy to understand how people managed to forget about the upgrade itself. While both blockchains that emerged during the upgrade are being mined at full speed by different mining groups, Bitcoincash.org announced that the upgrade was successfully completed.
The announcement was made on Monday, November 19th, and it specified that all features proposed and developed by the Bitcoin ABC are now a part of BCH blockchain. Among other functionalities, there is CTOR (Canonical Transaction Ordering), as well as two enabled opcodes — OP_CHECKDATASIGVERIFY and OP_CHECKDATASIG. Finally, the announcement also directly points out the addition of enforced minimum transaction size, an automatic replay protection for any future upgrade, as well as he script-Sig's “push only” rule.
Bitcoincash.org explains that the CTOR allows faster block propagation and transaction ordering, while OP_CHECKDATASIGVERIFY now allows transactions to verify that they have valid signatures and messages. Both new additions were a part of the project's technical roadmap.
As for the new checkpoint added by the developers, Bitcoincash.org explains that it was necessary in order to prevent potential attacks on the chain by malicious entities. This was a tactic developed by Satoshi Nakamoto himself, back when Bitcoin's development was still in its early days.
Exchanges' Risky Listings
While the hash wars brought suspension and excitement to the Bitcoin ecosystem, it has been days since they originally started. Because of this, the exchanges decided that they cannot wait anymore, and many of them announced new chain listings.
One such exchange is a popular platform called Voltaire, which revolves around BCH as its prime crypto. This was one of the first platforms to announce a move, and it did so on November 18th. The announcement stated that BCH ABC will be considered the main BCH from now on. However, the exchange is also working on enabling BCH SV withdrawals and deposits. Not only that, but they also plan to introduce a BSV/BCH trading pair in the near future.
Another large crypto exchange, Kraken, made a similar move on the same day. While Kraken had more to say regarding the hard fork, it still confirmed that Bitcoin ABC version of BCH will be listed as Bitcoin Cash. nChain's version of BCH, on the other hand, will now be known as BSV. While they still announced the addition of BSV, Kraken also pointed out that BSV doesn't meet usual listing requirements. It is not supported by any known wallet, its miners are clearly experiencing losses during the mining process, while the chain's leaders are openly hostile and threatening.
Because of this, the exchange has warned its users against the coin, noting that it cannot guarantee perfect custody of it.
Cryptoexchange CoinEx, known for its BCH pairs, also announced the listing of both markets, with ABC version being BCH, and nChain version being BCHSV. However, they also went a step further by pairing BCH SV with both, BTC and BCH.
Dear all: CoinEx will add BCHSV/BCH, BCHSV/BTC trading pairs at 4:00 Nov 18th.
— CoinEx (@coinexcom) November 18, 2018
Additional exchanges have also re-opened BCH markets, with the coin's community hoping that others will do the same soon.