Bitcoin Cash to be listed for trading by Huobi, BTCC

Bitcoin Gold Coin

The original coin will keep its name of "Bitcoin" and the new branch is to be known as "Bitcoin Cash".

Called "Bitcoin Cash", the Bitcoin variant aims to speed up how quickly transactions are processed.

After more than 95% of miners signalled their support for the plan it was widely assumed that a Bitcoin "civil war" had been averted. On one side is the technology favoured by traditionalists, called Segwit2x; and on the other side, the splinter currency, simply called "bitcoin cash". The first of these to be released is named "BitcoinABC".

Bitcoin rival ethereum ran into volatility at the start of the week, falling further below $200.00. All will conform to the protocol specification set out by the UAHF proposal.

The dust had settled with the proposal of SegWit2x, which was said to address the disagreements between miners and core developers, with the data splitting step taking place this month and the increase in blocksize to 2MB to follow in November. Bitcoin cash, which is an alternative to both the current and SegWit2x measures, wants to boost the size of blocks from 1 megabyte to 8. However, the site warned those who are using third-party exchanges to inquire with them to ensure their money will be safe during the transition. Many exchanges, perhaps most notably Coinbase, have chose to not list the new cryptocurrency at all.

Bitcoin cash isn't technically live yet as it still has to achieve a block of more than 1MB in order for it to be officially split, according to CoinDesk.

Heads up to those who own bitcoin via an exchange: If you haven't transferred your bitcoin to a "local wallet", you may not see the cash bitcoin. It is notable that Bitcoin Cash futures are trading at nearly twice the value of the BCH IOUs right now.

The prospect of being credited with Bitcoin Cash - which could be seen as a sort of dividend for holding bitcoin - is also thought to have helped the bitcoin price. They may wish to ignore it, move to it wholeheartedly, only be interested in trading it or prefer to let things play out before making a decision.

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The risk of transaction "replay" attacks.

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Anyone who owns bitcoin will also own the same number of Bitcoin Cash units.

Other exchanges like Coinbase have said they would only support one version of Bitcoin. Such an occurrence is called a "replay attack".

One interesting development, however, is that there will be a hard fork on August 1 - but not in the way analysts initially feared. This compares to 2,000 per second for Visa and means that at peak times bitcoin transactions can take hours to be fulfilled, inhibiting the currency.

Bitfinex said in a separate blog post Tuesday that it will decide whether to list bitcoin cash "based on how the situation evolves". It's not clear at this stage how many bitcoin miners and others are supporting the bitcoin spinoff.

The parties involved do make great play of the fact that it was "near instant" (after a almost two month due diligence process). If you leave your bitcoins in Zebpay, Bitcoin Cash will not be available to you.

However, not all of Bitcoin's players are happy with the proposed software upgrade.

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