Bitcoin’s underlying software code could be split today to create a clone virtual currency named “Bitcoin Cash”.
As per Reuters report, “The initiative is being led by a small group of mostly China-based Bitcoin miners – who get paid in the currency for contributing computing power to the Bitcoin network – who are not happy with proposed improvements to the currency’s technology.”
The ‘fork’ is set to be activated today. Bitcoin avoided bigger split two-weeks ago when its software developers and miners agreed to implement a software upgrade called the Bitcoin Improvement Proposal [BIP] 91.
Bitcoin Cash futures are trading at around $282.40. Bitcoin is trading at $2,866 levels.
Read – Bitcoin Analysis: Bulls reinforced ahead of the Bitcoin QE
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