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Today, August 1st, SegWit opponents are to launch a user-activated hard fork (UAHF) to create Bitcoin Cash, a cryptocurrency competing with Bitcoin, which is going to disrupt cryptocurrency world's relative stability to a large extent.
Distributed database that is used to maintain a continuously growing list of records, called blocks
For now, right after the leading Bitcoin storage wallet Coinbase refused to support the new asset more than 400 000 BTC were withdrawn from the company's cold wallets, reports the analytical resource Blockseer:
Prior to the Bitcoin Cash fork, this is what the Coinbase cold storage balance looks like based on our analysis. pic.twitter.com/yZrsvir9rh
— BlockSeer (@BlockSeer) August 1, 2017
A number of exchanges and wallets, including Coinbase, refused to support the new asset. The company's user agreement states that the company has the right to decide on supporting changes in the Bitcoin protocol. However, some members of the community believe that Coinbase may face lawsuits in connection with the refusal to give users the Bitcoin Cash coins they suppose to get.