Digital asset exchange company Coinbase has incurred the wrath of its customers with its decision not to support Bitcoin Cash.
If you’re just joining us, a group of miners split off from the main blockchain on Tuesday, creating a new cryptocurrency called Bitcoin Cash. The blockchain split is the culmination of the years-long scaling debate within the bitcoin community as they search for a way to increase the network’s capacity from the original 1MB.
Aside from increasing the block size to 8MB and removing SegWit, Bitcoin Cash also awards people who own coins on the main bitcoin blockchain the same number of coins on the new Bitcoin Cash blockchain, effectively receiving a free dividend.
The new cryptocurrency has received support from members of the community who want a block size increase, including developers of proposals like Bitcoin Unlimited, as well as sectors such as digital currency exchanges and retailers in Japan and even online gambling operators, who are already on process of adding Bitcoin Cash to their payment options.