Bitcoin Cash to introduce new address format

Bitcoin ABC is going to introduce new address format for Bitcoin Cash in order to avoid wrong address coins transfer
23 November 2017   3286

Due to the fact that the legacy chain (BTC) and Bitcoin Cash (BCH) share a common address format to date, it has caused confusion and resulted in some users losing their money after sending BTC to a BCH address, and vice versa. In an effort to put an end to this problem, Bitcoin ABC’s lead developer Amaury Séchet is proposing a new address format for BCH, one that will make it incompatible with the BTC chain. This is reported by The Bitcoin News.

Using a new format will prevent users from mistakenly sending money on the wrong chain. It also accept payloads up to 512 bits which ensures we can deploy more secure way of doing multiparty smart contract in the future. Finally, it uses a version field ensuring we can encode new features in these addresses in the future without having to use a new format.
 

Amaury Séchet

Lead developer, Bitcoin ABC

Thus, the new address format, called cashaddr, not only helps end the confusion. It also prepares the Bitcoin Cash system for further upgrades in the future, including multiparty smart contract.

The upgrade can be implemented easily and does not need a hard fork. Séchet is planing implementatio for January 14 —which is perfect as it avoids the Christmas holiday season, when transactions may be at its peak, while also being ahead of another holiday season, the Chinese new year which falls in February.

SBI to Delist Bitcoin Cash

It is also worth noting SBI won't delist Bitcoin SV, which will be delisted by Binance and ShapeShift.
17 April 2019   192

The Japanese exchange SBI Virtual Currencies will delist Bitcoin Cash (BCH) in June Cointelegraph reports.

It is noteworthy that SBI won't delist Bitcoin SV, which will be delisted by Binance and ShapeShift.

Among the main reasons for the delisting of the exchange called the decline in market capitalization of Bitcoin Cash. Also, representatives of the marketplace are convinced that BCH has recently become more at risk of an “attack of 51%.”

This material is not part of the rules for the management system of virtual currency related information of Japan Virtual Currency Exchange Business Association.
 

SBI

In addition, AMB Crypto reports that SBI is dissatisfied with the consequences of hard forks, as a result of which the BSV asset appeared, and Bitcoin Cash cryptocurrency itself has lost a significant part of its value in a short time.

Some users of social networks have expressed the opinion that the true reason for delisting Bitcoin Cash lies in the partnership of the management of the exchange with the company nChain, where Craig Wright, who supports Bitcoin SV, works.

Large exchange OKEx decided not to delist Bitcoin SV too. Moreover, until April 19, the launch of the FloatSV cryptocurrency exchange, created in partnership with OKEx, is expected to be launched, the main asset of which will be Bitcoin SV.