After months of speculations, and hours of uncertainty, we have
After months of speculations, and hours of uncertainty, we have a winner in Bitcoin Cash Fork battle, it’s none other than Bitcoin ABC, backed by Bitcoin.com and Bitcoincash.org. Friday was the D-day for all those holding up to their Bitcoin cash (BCH) anxiously, as the trading begun for both the parties Bitcoin ABC and Bitcoin SV. The early trends showed a lot of volatility; however, later in the day, Bitcoin ABC showed much more consistency both regarding Hash power and some blocks mined.
Last we checked, Bitcoin ABC was leading by 52 blocks when compared to bitcoin SV. The reasons for the same are not that hard to figure out; Bitcoin ABC has everything checked, their Fork was based on the main bitcoin Cash protocol, with only a few nudges regarding software. On the contrary, Bitcoin SV tried to take the ‘the path less taken’, with an altered roadmap and source code.
According to the last published data, BCH ABC is trading at 8% low of the BCH and holds a value slightly under $100, on the contrary, BCH SV is trading at a 90% lower trading rate than its parent and currently maintains its value at $52. However, Craig Wright often referred to as ‘faketoshi’ believes, hash power is more of a long-term thing, and one should not count him out this early.
A reminder, hash competitions are a marathon, not a sprint.
Never look st victory too soon…. pic.twitter.com/GFdCR4J2RA
— Dr. Craig S Wright © (@ProfFaustus) November 15, 2018
Major crypto exchanges pledged their support for Hard Fork. However, the situation was little different this time around, as there were two proposals for the fork instead of just one. But, looking at current data, Bitcoin ABC is a clear winner. Many other exchanges have pledged support for both and said they would decide later whether to trade Bitcoin ABC or Bitcoin SV.
Trade exchanges have Frozen the BCH trading before the BCH HardFork. However, quite a few like Poloniex allowed its user to trade both crypto tokens, BCH ABC, as well as BCH SV even before the HardFork took place. One of the spokespeople of the Exchange said,
“Customers can convert Bitcoin Cash into equivalent amounts of BCH-ABC and BCHSV and, also convert BCH-ABC and BCHSV back into BCH if they’d like to withdraw funds. Customers won’t be able to withdraw BCH-ABC and BCHSV ahead of the hard fork.”
Reports from other exchanges are yet to be finalized, whether they would support just the BCH-ABC or follow the trend set by Poloniex and allow both the HardForked cryptocurrencies to trade.