OpenBazaar will integrate Bitcoin Cash, Zcash and Litecoin

OpenBazaar marketplace will add support for a few different altcoins including Bitcoin Cash and Zcash which are in the testing phase already, and integrate Litecoin
21 December 2017   3225

OpenBazaar is a free online marketplace and a peer to peer application that doesn’t require middlemen, has no fees and no restrictions. On December 20, OpenBazaar published the list of development updates in its blog, where it was stated that shortly after launch Bitcoin fees significantly increased, making buying and selling everyday items and services difficult on OpenBazaar.

In order to present more options to users so that they can avoid Bitcoin fees, OpenBazzar marketplace team will start working to integrate the coins Bitcoin Cash, Zcash and Litecoin.

Testing for Bitcoin Cash and Zcash has begun and OpenBazaar is at the beginning stages of exploring how Litecoin integration would work.

It is worth noting that all the cryptocurrencies that the marketplace is going to add are showing the increase in price, for example Bitcoin Cash has risen 98.25% within past week, and Litecoin has grown 10.85% while Zcash jumped 54.28% during the same amount of time.

At the moment of press, the prices of the cryptocoins are as follows:

  • Bitcoin Cash: $3 742,47
  • Litecoin: $327,76
  • Zcash: $710,63

Coinbase to Appear in San Francisco District Court

Exchange representatives must appear in court due to issues related to BCH trading launch in 2017
07 August 2019   432

San Francisco District Court judge Vince Chhabria ruled that the latter showed negligence and “clear incompetence generated by haste” when it started trading in Bitcoin Cash (BCH) on Coinbase. Now Coinbase, apparently, will be forced to stand trial, Bloomberg reports.

So, at the end of 2017, the exchange opened BCH trading, but was forced to suspend operations after 2 minutes due to high volatility and suspicious price increases - the coin began to grow rapidly several hours before the announcement of Coinbase.

Then the company was accused of insider trading, later crypto enthusiasts even began to find confirmation of this.

According to the judge, the users who bought VSN at inflated prices were primarily affected. He noted that the suspension of trading was too hasty and disrupted the normal functioning of the market.

BCH buyers claim that Coinbase could have announced a bid in advance to prevent a price spike, but it did not. The judge agreed with this opinion and noted that shortly before the launch of BCH trading on Coinbase, the Chicago Mercantile Exchange opened trading in bitcoin futures, which could become a factor of too much market participants' recovery.

According to the publication, Coinbase has not yet commented on the court decision.

Recall that in March 2018, a class action lawsuit was filed against the company, in which Coinbase was accused of “artificially overpricing” Bitcoin Cash through trading based on insider data.