Bitcoin Civil War: Bitcoin vs. Bitcoin Cash

 SegWit opponents are to launch a user-activated hard fork (UAHF) to create Bitcoin Cash
01 August 2017   1403
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

Hardly had the UASF been successfully activated, new threat looms over it. 

The Bitcoin blockchain may be just hours away from its major fork: SegWit opponents are to launch a user-activated hard fork (UAHF) to create Bitcoin Cash, a cryptocurrency competing with Bitcoin. 

Bitcoin

Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen

Bitcoin Cash

A new cryptocurrency representing a hard-forked version of Bitcoin, different from it in the blocksize limits

Bitcoin Cash is to activate new rules that aim to boost transaction capacity by increasing the block size to 8MB, removing Segregated Witness (SegWit) and "breathing new life into Bitcoin".

Since Bitcoin Cash is forking the Bitcoin blockchain, most Bitcoin holders will automatically receive an equal number of Bitcoin Cash, as Bitcoin Cash team reports. 

According to the Bitcoin Cash website, the following exchanges have announced they will credit Bitcoin Cash to traders holding Bitcoin:

Exchanges supporting Bitcoin Cash Exchanges supporting Bitcoin Cash

On top of that, despite the fact that the actual Bitcoin Cash coins do not exist yet, ViaBTC enabled traders to trade its futures under symbol "BCC' by temporarily freezing their BTC balances on the platform:

Bitcoin Cash price chart fon ViaBTC Bitcoin Cash price chart fon ViaBTC

Whether or not the miners will get behind Bitcoin Cash remains to be seen. In any case, the event we are lucky to observe right before our eyes is one of the most important in Bitcoin history as well as in entire cryptocurrency history.

Wyoming Passed Bill Exempting Utility Tokens from Securities Laws

The Wyoming House of Representatives has unanimously approved a bill exempting utility tokens from securities laws  
20 February 2018   79

On Monday, House Bill (HB) 70 passed the House 60 to 0 and will now head to the Senate. The bill exempts utility tokens from securities laws. This will attracts ICO’s launches to the state and will make the state a favorable environment for blockchain startups.

According to the bill, the utility token must meet three conditions:

  1. The token’s issuer must not market it as an investment;

  2. The token must be exchangeable for goods and services, for example, startups must have a working product or service at the time the tokens are issued;

  3. The token’s issuer must not actively make efforts to create a secondary market for the token by entering into a repurchase agreement or agreeing to locate buyers for the token.

It is important to note that there are four more cryptocurrency and blockchain-related bills currently moving through the Wyoming legislature.

HB 19 passed the House of Representatives on Monday and is now awaiting introduction in the Senate. The bill exempts cryptocurrency from the state’s money transmitter act.

HB 101 has passed its second reading in the House and, if it passes its final hearing, will then go to the Senate. This bill will allow companies to create and use blockchains for the purpose of storing records and conducting inter-office communication.

HB 126 has just passed its second reading in the House. It will allow the creation of series LLCs.

Senate File (SF) 111 passed a vote to introduce on Friday and is now headed to a committee hearing. This bill will exempt cryptocurrency assets from state property taxes.