Binance Lists Both Bitcoin Cash Forks But Won’t Change the Symbols
Thursday’s Bitcoin Cash (BCH) hard fork has left the crypto community on the edge of their seat, waiting for a clear-cut winner between Amaury Séchet’s Bitcoin ABC and Craig Wright’s nChain to emerge.
While the early frontrunner looks to be BCHABC, Wright continues to assert that the ‘Hash War’ is not a sprint but instead a drawn-out affair.
That being said, many top cryptocurrency exchanges have come out in support of both new chains, with perhaps the most notable being Binance, the world’s most popular cryptocurrency exchange. Despite their decision to list both of the new BCHs, Binance CEO Changpeng “CZ” Zhao has made it abundantly clear that he is not a fan of projects forking.
CZ’s disdain for forks, and all of the hoopla associated with the splitting of a cryptocurrency community, has notable repercussions regarding the listing and existence of digital currencies on his exchange.
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
In a recent tweet, CZ made it known that both BCHABC and BCHSV will forever be the symbols associated with the new Bitcoin Cash projects. This is potentially a huge drag for the adoption of these coins, as the new symbols are long and unattractive. Additionally, Bitcoin Cash’s days of benefiting from its confusingly close branding to Bitcoin may now be over.
More: Binance Announcement
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.