In today’s cryptocurrency news, we have the altcoin Bitcoin Cash (BCH) in the focus because of its recent fork which split the fourth largest cryptocurrency by market cap into at least two competing versions.
The versions are called after their primary software clients, Bitcoin ABC (BCHABC) and Bitcoin SV (BCHSV). What started as a network upgrade after 18:00 UTC today continued with the BCHABC and BCHSV chains being diverged at block 556767.
According to the BCHABC rules, bitcoin.com mined the first two blocks, both of which SV nodes marked as invalid, while BCHSV had to mine its first divergent block after that. As the hard fork proceeded, BCHABC maintained a significant edge according to its economic and community support metrics.
BCHSV, on the other hand, whose primary backers are Craig S. Wright and Calvin Ayre, amassed the dominant hash rate which controls about 75% of all BCH mining power in the minutes before the fork.
The ‘war’ between the two newly forked coins has just started and SV supporters openly declared that they will use the superior hash power to attack BCHABC, mining empty blocks and reorganizing its blockchain until the supporters capitulate and the economic majority moves to SV.
Stay tuned for more news about the hard fork – and to see how everything will play out for BCHSV and BCHABC!
Coinbase Adds PayPal Withdrawals To Its Platform (For U.S. Citizens)
“There is new technical work to make this possible, and that was done in conjunction with PayPal.”However, this Friday Osgood wrote that the partnership provides Coinbase customers an alternative to the traditional federal wire or automated clearing house (ACH) network that they were required to use. As he said:
“These traditional finance networks can add up to two business days to a withdrawal. We’re always looking for ways to not only meet the bar set by traditional finance, but raise it. That’s why we rebuilt our integration to ensure that the speed and reliability of PayPal withdrawals does just that.”The service is for now only available to customers in the United States, but could continue to be added to other nations across 2019, as Osgood wrote.
Bitcoin Plunges To A Yearly Low, Market Is ‘Prepared’ To Go Below $100 Billion
“As BTC is approaching the target of the 2014 fractal the targets of most people change from 3k to 1k and even lower. I still think $2,700 is an excellent place to buy if we should go there. ‘History doesn’t repeat itself but it often rhymes.’”Currently, there is a big risk in shorting and longing Bitcoin and other major cryptocurrencies in the market, which is why investors are observing the short-term trend of the crypto market by holding out on their trading activity.
TRON’s DApp Usage Jumps 48% To +1 Million Transactions Last Week
“This week, the 24-hour transaction number for Dapps reached 1.04M, a 48% increase compared with last week; the 24-hour trading volume hit 640M TRX, an 151% increase compared with last week. We have seen significant increases in both indexes […]”One of the most interesting projects built on Tron is Seedit which is a decentralized platform that lets users contribute funds to the content creators that they most appreciate. Project Atlas is also a well-known project which incentivizes people to seed content on the BitTorrent protocol, which was acquired by Tron back in July this year.
Bitcoin Cash Drops Again By 15 Percent While Other Cryptocurrencies Take A Stronger Hit
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