Coinbase Officially Declares BCH ABC chain as Bitcoin Cash (BCH)

Coinbase officially said in the blog post that BCH ABC chain will be retained as official Bitcoin Cash (BCH).

On November 15, 2018, Bitcoin Cash Hard Fork resulted in two separate coins, Bitcoin ABC and Bitcoin SV. Bitcoin ABC stands for ‘Adjustable Blocksize Cap’ while Bitcoin SV stands for 'Satoshi’s Version'. The network split resulted in a hash power war among two chains to dominate real bitcoin cash turf.

The decision was based on higher hashrate and a longer proof-of-work chain and on the number of other factors which were not stated in the blog post. Coinbase is one of the top fiat-to-cryptocurrency exchanges in the world and considering its reputation it may drive the community opinion in the favor of Bitcoin ABC as official Bitcoin Cash (BCH).

The coinbase team said, "Since the Bitcoin Cash fork on November 15, 2018, Coinbase has been closely monitoring the BCH network. We have observed consensus in the community that the BCH ABC chain will retain the designation of Bitcoin Cash (BCH). Coinbase will also adopt this designation for BCH. Coinbase has made this decision based on a number of factors including the fact that ABC has a higher hashrate and a longer proof-of-work chain."

Notably, CoinMarketCap.com has listed BCH ABC as official Bitcoin Cash on their portal. Various other crypto exchanges including CoinEx, Bittrex, Kraken, Huboi already declared and listed BCH ABC as official Bitcoin Cash (BCH) on their platforms.