Why Major Crypto Exchanges are Granting Bitcoin Cash With BCH Ticker
The hash power war between Bitcoin Cash (BCH) and Bitcoin Cash SV (BCHSV) ended with a one-sided victory for BCH. Prior to the hard fork on November 15, major cryptocurrency exchanges publicly expressed support towards the roadmap set forth by bitcoincash.org or ABC, the original Bitcoin Cash blockchain network. Fast forward eight days, a growing number of leading cryptocurrency trading platforms have begun to officially adopt ABC as the original Bitcoin Cash network with the ticker BCH. Earlier this week, Coinbase, one of the most widely utilized fiat-to-crypto exchanges in the global market, released an official statement declaring that ABC will retain the ticker BCH.The company stated that the higher hashrate and longer proof-of-work chain were amongst several other factors that led to the decision of Coinbase to provide the BCH ticker to the original Bitcoin Cash chain.The Coinbase team said:“Since the Bitcoin Cash fork on November 15, 2018, Coinbase has been closely monitoring the BCH network. We have observed consensus in the community that the BCH ABC chain will retain the designation of Bitcoin Cash (BCH). Coinbase will also adopt this designation for BCH. Coinbase has made this decision based on a number of factors including the fact that ABC has a higher hashrate and a longer proof-of-work chain.”In the weeks to come, Coinbase users will be able to withdraw BCHSV that was credited to BCH holders prior to the fork, but the firm did not express any intent to list BCHSV nor allow investors to trade the newly created asset.“Our current intention is to support withdrawal services for the BCH SV chain so that our customers may withdraw funds at a future date. We anticipate this development work will take at least a few weeks, but may take longer” the team added.Jesse Powell, the CEO of Kraken, another major cryptocurrency exchange based in the U.S., recently criticized the operation of the Bitcoin Cash SV camp led by Calvin Ayre, Craig Steven Wright, and Coingeek, who have threatened developers and miners throughout the past several weeks.
About Bitcoin Cash: Bitcoin Cash brings sound money to the world, fulfilling the original promise of Bitcoin as "Peer-to-Peer Electronic Cash". Merchants and users are empowered with low fees and reliable confirmations. The future shines brightly with unrestricted growth, global adoption, permissionless innovation, and decentralized development. Bitcoin Cash is a peer-to-peer electronic cash system. It's a permissionless, decentralized cryptocurrency that requires no trusted third parties and no central bank. In 2017, the Bitcoin project and its community split in two. Perhaps the least controversial way to refer to each side is simply by their respective ticker symbols, BTC and BCH. Bitcoin Cash is usually represented by the BCH ticker symbol and is considered by its supporters to be the legitimate continuation of the Bitcoin project as peer-to-peer digital cash. With Bitcoin Cash, you can send money to anyone, anywhere in the world, 24 hours a day, 365 days a year. Like the Internet itself, the network is always on. No transaction is too big or too small. And you never need anyone’s permission or approval.
Bitcoin cash is the 4th largest cryptocurrency by market cap size with a current market cap of $3,505,758,928. It's down 14.21% over the past 24 hours and is currently trading at $200.64. Bitcoin cash has a circulating supply of 17,472,813 BCH. It can be bought with fiat dollars, debit, and credit cards at cryotocurrency exchanges such as Coinbase and Changelly.