Why dominant cryptoexchanges are giving the BCH moniker to Bitcoin Cash

Why dominant cryptoexchanges are giving the BCH moniker to Bitcoin Cash
Nov 23, 2018 by Rico Wise

Before the hard fork even that took place Nov 15, dominant cryptoexchanges showed their support of the roadmap provided by bitcoincash.org, otherwise known as BCHABC, which is the initial blockchain platform of Bitcoin Cash.

Over a week later, an increasing number of flagship cryptotrading platforms have started adopting the ABC chain as the true Bitcoin Cash network with the BCH symbol.

Previously this week, Coinbase, one of the most popular cryptoexchanges in the worldwide marketplace, has presented its official statement, wherein the San Francisco-based exchange declared that ABC protocol gets to use the symbol BCH.

The firm also made a statement that among other factors weighing in on such decision were increased hashrate and longer PoW chain, which led the cryptoexchange to the provision of the BCH moniker to the initial Bitoin Cash blockchain.

In the upcoming weeks, Coinbase customers will have the opportunity to withdraw their BSV tokens, which were credited to BCH owners before the fork event took place, but the company did not confirm any intentions of enlisting BSV token or letting financiers trade the newly emerged asset.

Jesse Powell, the chief executive of Kraken, another dominant US-based cryptoexchange, has expressed his disapproval regarding the operation the BSV camp in the leadership of CoinGeek’s Calvin Ayre and Craig Steven Wright, both of whom issued threats against the developers and cryptominers over the past few weeks.

Two days ago, BSV underwent a reorganization of two blocks, with CoinGeek becoming a suspect behind the action. According to Emin Gun Sirer, such action displays inefficiency of hash power, decentralization, and lack of well-designed system on BSV chain.

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