Poloniex to Support Both Bitcoin Cash Chains

Bitcoin Cash may split on 2 chain after upcoming hardfork
07 November 2018   1573

The cryptocurrency exchange Poloniex intends to support both Bitcoin Cash chains, which may appear after the network upgrade planned for November 15.

For the upcoming November 15th upgrade, two competing development teams have proposed different network consensus rules that are incompatible with each other: the “SV” implementation and the “ABC” implementation. We believe the responsible thing for an exchange to do is remain neutral, and allow the community to decide which chain to support.  Therefore, we plan to support trading markets for both tokens.
 

Poloniex

On November 15 there will hardfork in Bitcoin Cash chain. However, there are two development teams that offer incompatible clients Bitcoin SV and Bitcoin ABC.

Note that Coinbase, OKEx and Binance have already expressed support for the implementation of traditional Bitcoin ABC software.

Meanwhile, the rate of BCH over the past day has grown by more than 11% and is trading at around $ 630.

Court to Dismiss BCH 'Hijack' Lawsuit

UnitedCorp claimed that it incurred significant losses due to the actions of the defendants, which are Kraken, Bitmain and Roger Ver
06 February 2020   215

The court dismissed the lawsuit of the mining company United American Corp. against the Kraken exchange, its founder Jesse Powell, Bitmain, its co-founder Jihan Wu and Roger Ver, who accused them of manipulating the Bitcoin Cash market and claimed $ 4 billion in compensation. As a reason for refusal, the court pointed to the lack of jurisdiction of the case and insufficient grounds.

UnitedCorp claimed that it incurred significant losses due to the actions of the defendants, who, after the emergence of Bitcoin SV in 2018, organized the so-called “hash war” and competed for 11 days to form the longest chain. The role of the Kraken exchange in these events was due to the fact that it was the first to decide to award a ticker for the BCH chain, also called Bitcoin ABC.

The simultaneous decrease in the price of Bitcoin Cash from $ 400 to $ 200 led to a significant drop in mining revenue of UnitedCorp. The firm claimed that the defendants violated the Sherman Act (the first US antitrust law proclaiming a crime to impede free trade by creating a trust and conspiring for such a purpose), Clayton's law, which also regulates the activities of trusts, demonstrated negligence, unintentional misrepresentation, improper enrichment and treatment property in their favor.

During hash wars, the amount of computing power in the Bitcoin Cash network reached 7.88 EH / s, whereas now it is 3.99 EH / s. Due to the actions of other miners, UnitedCorp could receive a significant part of the awards it had hoped for before, and the depreciation only worsened its position.

The court dismissed the claim without further restrictions. Thus, UnitedCorp is allowed to submit its revised version again until February 28th.