Bitcoin payment service BitPay supports Bitcoin Cash Hard Fork

bitcoin cash hard fork

The upcoming Bitcoin Cash Hard Fork had provided a short-term Bitcoin Cash rally last week. One of the largest bitcoin payment service providers in the world, BitPay, will fully support Bitcoin Cash ABC Hard Fork.

With Binance and Coinbase announcing their full technical support for the Bitcoin Cash Hard Fork, the currencies’ share price has gone up by more than 40% in just a few days. In anticipation of “free” coins that investors will receive on the platforms, the Bitcoin Cash Hard Fork is the former digital currency developer in the international debate.

BitPay has announced on their blog that they will fully support the Hard Fork:

“The BitPay system uses the primary software implementation of Bitcoin Cash, called Bitcoin ABC. Bitcoin ABC planned a change to the Bitcoin Cash Protocol on November 15 over Hard Fork.”

BitPay also advises its users that no transactions should be made before, during, and shortly after the fork, as this may entail the risk of lost or duplicated credit. Storing all financial resources on the wallets is risk free:

“we strongly recommend that you stop sending or receiving transactions from your Bitcoin wallets at 10:00 am EST (approximately two hours before the diversion). During a hard fork, there is an increased risk that outgoing or incoming transactions will be lost or duplicated.”

There are currently two different stores within the Bitcoin Cash Hard Fork dispute: Bitcoin ABC and Bitcoin SV. Bitcoin ABC has received prominent support from Binance, Coinbase and mining giant Bitmain. Bitcoin SV, on the other hand, is well received by mining pools Coingeek and SV-Pool. As usual, the dispute is about increasing the block size. Bitcoin ABC wants to keep the block size at 32GB, whereas Bitcoin SV wants to implement the “true vision of Bitcoin” and increase that value to 128GB.

Although it currently looks like that Bitcoin ABC has a clear majority, the discussion is still far from being over.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.