GMO Coin supports Bitcoin ABC version, to resume trading from tomorrow | BCFocus

CoinBlock.Asia 2018-12-03 23:12

Bitcoin Cash

One of the leading crypto exchanges in the world, GMO Coin, backed by one of the biggest companies in Japan, has come to the decision of supporting the ABC version of Bitcoin Cash [BCH] when it resumes trading, according to a report by Finance Magnates.

As per the report, the company will resume the BCH/JPY trading starting tomorrow. The company had halted the trading of Bitcoin Cash [BCH] on November 15, when the hard fork took place and the cryptocurrency was split into two.

When Finance Magnates spoke to the company to inquire about which of the two versions the exchange would be listing, a spokesperson from the company said, “In our company, the one shown as BCH indicates a Bitcoin Cash called BCHABC.”

The hard fork was propagated by two different parties the Bitcoin ABC implementation led by Roger Ver, CEO of Bitcoin.com and Bitcoin SV implementation was led by Craig Wright and Calvin Ayre. And the fork that took place on 15 November has not been without its own share of controversies. Bitcoin Cash [BCH] is one of the more prominent cryptocurrencies and many in the community believe that it is much closer to the original version of Bitcoin envisaged by many.

The developers behind both the camps (BCHABC and BCHSV) are not willing to give an inch and they say that their version is the legitimate one and they are hostile to each other and as the split took place, a hash war erupted making the whole atmosphere more volatile. Hash war means that after the split, the miners had to decide which currency to mine and the currency with the higher number of miners would be deemed as victorious.

This is not the only problem that has plagued Bitcoin Cash since the hard fork. There’s also the issue of the name. When the two cryptocurrencies get listed on an exchange, which one gets to be called the real Bitcoin Cash. Well, this answer to this question is still shrouded in mystery. The two most popular cryptocurrency exchanges in the world–Binance and OKEx–have taken opposing paths.

Calvin Ayre tried his best to clear the air when he said that neither of the two coins can be called Bitcoin Cash and they would be listed as Bitcoin ABC and Bitcoin SV. While some exchanges have complied, others have not. Kraken, for example, awarded the name ‘Bitcoin Cash’ to the ABC version, referring to the Riker problem to justify things.

While GMO coin has gone ahead with its decision to term Bitcoin ABC as the original Bitcoin Cash, it has not divulged any reason for doing so. But the decision by GMO Internet, the behemoth behind GM Coin to treat Bitcoin ABC as the real Bitcoin is sure to provide a welcome relief to the supporters and the community and this also means that the mining operations will also follow suit which will be a big boost to Bitcoin ABC.

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