Times have been exciting lately for those who have been following Bitcoin Cash and altcoins in general as the blockchain that forked off from Bitcoin during last August has been split into 2 with both sides actively fighting for the name and the ticker. Binance, one of the biggest Bitcoin and Altcoin exchanges to date, has launched trading for both chains while coming out with a very strict announcements regarding the future of BCH.

HashWar

Two markets just came online recently on Binance while the BCH markets were disabled, these are BCHABC and BCHSV. The two tickers are owned by the 2 forks that are actively fighting right now in a hash war. Even though BCHABC is 30 blocks ahead in terms of mining according to cash.coin.dance the fight is not over yet as BCHSV has been adding a great amount of hash lately while also stating that they will fight to death.

(Image taken from cash.coin.dance)

According to the whitepaper the deciding factor on forks should be the cumulative accumulated work done by miners and as it currently stands both parties are mining at a huge loss while trying to build up the chain with the most work. The deciding factor will most probably be the endurance of either party while flushing more money down the drain on a hourly basis.

Binance’s decision

Technically neither fork could claim the name as both have heavily altered the original code of Bitcoin Cash, but both sides feel that there was a need to change these set of rules and both insists on the name. This might be the reason why Changpeng Zao, the CEO and founder of Binance, insists on retiring the BCC/BCH ticker and keeping both chains as a viable option for trading, but with their own tickers.

One thing about the fork, these symbol names will stay. Binance will not support changing of trading symbols later. If anyone asks for it later, let's refer them back to this tweet. https://t.co/j1h3gb4edQ — CZ Binance 🔶🔶🔶 (@cz_binance) November 16, 2018

Less possibility of confusion with bitcoin now. — CZ Binance 🔶🔶🔶 (@cz_binance) November 16, 2018

While using the BCHABC and BCHSV tickers and the full titles (Bitcoin Cash ABC and Bitcoin Cash Satoshi’s Vision) surely helps for newcomers to differentiate between Bitcoin and the rest. Another factor that might be highlighted here is the continuous hard fork that comes with the ABC client. Every 6 months the ABC client will automatically hard fork and this might imply that every 6 months an opposition could build up making the chain effectively risky to use (or almost unusable) for a longer period.

Currently as it stands Bitcoin Cash SV is the top gainer with the highest volume on Binance, but the price is still around 50% of Bitcoin Cash ABC.