Bitcoin that is being called “Bitcoin Cash” or “BCC”. This fork is based on the idea of UAHF

Chinese digital currency exchange ViaBTC added support for the trading of a possible new fork.This fork is based on the idea of UAHF, which is a contingency plan first proposed by Bitmain in April to protect the Bitcoin ecosystem from the threats proposed by the BIP148 fork (aka UASF). Because it is a contingency plan, the UAHF will be implemented by us only if the UASF fork happens and poses an imminent risk to the Bitcoin ecosystem.Bitmain, the operator of Antpool, emphasized that it will lead a Bitcoin hard fork on Aug. 1 and create Bitcoin Cash, a separate Bitcoin Blockchain. major mining pools and trading platforms, announced that it aims to pursue the development of Bitcoin Cash and hard fork the Bitcoin Blockchain.

The move from ViaBTC was highly controversial and was considered as a questionable decision by both the mining community and industry, as the mining community has agreed to activate SegWit via BIP 91 and BIP 141.ViaBTC has 10 times majoritS voting power over the decisions the company can make. Hence, the decision to hard fork the Bitcoin Blockchain after the activation of BIP 91 and BIP 141, aka SegWit, is not necessarily supported by Bitmain.

Bitcoin Cash is being initiated by a group of miners and users that do not support SegWit and are hoping for a drastic increase in block size. After the scaling drama of the past few years, we finally made progress when BIP 91 locked in on Thursday. Though SegWit increases transaction capacity, it’s not done so in a way that everyone is happy with. BCC looks like an appeal to the segment of the Bitcoin users that don’t like SegWit. Since SegWit is getting activated on Bitcoin, this fork gives many of these people a place to go.” thank you for reading vote Resteem and steem on