Coinbase, on November 20, announced that the Bitcoin Cash ABC implementation will retain the ticker of Bitcoin Cash and not Bitcoin SV implementation by Craig S Wright. Coinbase, in a statement, added that the decision has come after observing the consensus in the community.
Bitcoin Cash’s fork is among the most debated topics in the community last week as the hash wars ensued between Jihan Wu and Craig S Wright. Bitcoin Cash ABC implementation has gained more attention than its counterpart Bitcoin Cash SV as it has the longest Proof-of-Work chain.
Coinbase announced on Twitter saying:
“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 BCH ABC chain will retain the designation of Bitcoin Cash [BCH]. Coinbase will also adopt this designation of 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.”
As per data obtained from Coin Dance, Bitcoin Cash [Bitcoin Cash ABC] is currently 47% ahead in terms of Proof-of-Work and block heights are the same for both Bitcoin Cash and Bitcoin Cash SV. It also states that Bitcoin Cash is currently 8 blocks ahead.
Data from Coin Dance also suggests that Bitcoin Cash has a Proof-of-Work power of 2,399,685 exahash [EH] while that of Bitcoin Coin SV is at 1,657,136 EH as on November 20.
Another Twitter user, StopAndDecrypt, commented:
“If Coinbase is going to put out information without providing the full picture I’m going to call them out on it. Nowhere do they mention cumulative proof of work. They explicitly state “longest”. They make no mention of cumulative proof of work in their blog post.”
The fork-wars have caused Roger Ver and Craig Wright to exchange heated arguments between each other. In a recent video, Roger Ver explained how Bitcoin Cash ABC implementation has been more successful than SV. He cleared the air saying that they didn’t cheat and that it was SV team that started the ‘who has more hash rate’ race. He continued:
“The ABC team has been leading since the opening bell because we had more hash rate than the SV team and it is quite ironic that an SV supporter is saying this.”
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