The renowned Coin.Dance platform, a trusted source for tracking blockchain forks, has officially recognized Bitcoin ABC (BCH ABC) as the legitimate continuation of Bitcoin Cash (BCH). Meanwhile, the competing chain has been rebranded as Bitcoin SV (BSV).
Key Insights from Coin.Dance’s Decision
Chain Naming:
- Bitcoin ABC retains the Bitcoin Cash (BCH) ticker.
- Bitcoin SV adopts a new identity (BSV), dropping the “Cash” designation.
Current Chain Status:
- Despite Bitcoin SV’s chain length briefly surpassing ABC’s (557,277 vs. 557,276 blocks), Coin.Dance’s verdict favors ABC.
- Hash rate distribution remains nearly equal, though 68% of nodes support ABC.
Market and Exchange Reactions
CoinMarketCap still lists:
- BCH (original ticker).
- ABC and SV as separate futures, both trading at significantly lower valuations.
Kraken’s Listing:
- Bitcoin ABC trades as BCH.
- Bitcoin SV, though not fully compliant with Kraken’s listing policies, is available under BSV.
Centralization Concerns
Mining Pools:
- SV: 4 active pools.
- ABC: 6 active pools.
- Bitcoin (BTC): Over 17 pools in the past week.
This disparity highlights greater centralization in Bitcoin Cash compared to Bitcoin (BTC), with SV appearing more centralized than ABC.
FAQs
Why did Coin.Dance favor Bitcoin ABC over SV?
Coin.Dance based its decision on node support (68% for ABC) and ecosystem alignment, despite SV’s temporary block lead.
How are exchanges handling the fork?
Kraken lists ABC as BCH, while SV trades as BSV. Other platforms like CoinMarketCap await further consensus.
Is Bitcoin Cash more centralized than Bitcoin?
Yes. With fewer active mining pools, both ABC and SV exhibit higher centralization compared to Bitcoin’s decentralized network.
👉 Explore Bitcoin Cash’s latest developments
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