Today, November 15, Bitcoin Cash – the most famous forkFork
– is the intentional use of one code base of a software project to start another. That is, changing the blockchain code to split it into two.Details of Bitcoin and the fourth by capitalization cryptocurrency – is divided into two parts. As a result, Bitcoin ABC (main Bitcoin Cash) and Bitcoin SV (Satoshi's Vision) will be represented on the market.
The Bitcoin Cash split will occur due to disagreements over the update. The update had to slightly change the orderOrder
– automatic application to buy or sell cryptocurrency. Orders are used during trading on the stock exchange to open and close a position. Details of the transactions. But the situation escalated, pushing famous representatives of the cryptocurrency world: Roger Ver and Craig Wright. Both are staunch supporters of Bitcoin Cash, but the proposed update has fallen apart crypto-enthusiasts.
The new forks will be called Bitcoin ABC and Bitcoin SV (Satoshi's Vision).
"The chain will be divided into two parts, but the market economy will support ABC and reject SV (Satoshi's Vision). SV will have a low price and miners will leave it in a few weeks", reports BitMEX research manager Jonathan Bier.
Bier’s forecast is based on the reality of the situation, not on personal opinion, regarding the technical characteristics of the upcoming division. Based on the predictions of experts of the crypto-market, some exchanges have decided in advance that they will not accept Bitcoin SV. Several major exchanges have already created pairs, including both versions of Bitcoin Cash, which allows traders to participate in futures tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details.
The emergence of new forks has already been supported by such exchanges as: Poloniex and HitBtc, Binance, Kraken and Bittrex.
The negative consequences of a split will be huge. Bitcoin Cash takes the fourth place in market capitalization, but lately the cryptocurrency has faced several problems: slowdown in the rate of spread among commercial companies and a fall in value. HardforkHardfork
– a fundamental change in the source code, incompatible with the old protocol and the used software.Details will cause an additional blow to the network, especially if the supporters of each of the camps completely ignore the other.
Editor: Yuliya Soroka