Bitcoin Cash SV has survived the first 100 days of trading after a bitter hash war following a hard fork in the code.
The battle was really about which would take precedence for Bitcoin Cash – payments or decentralized apps.
Both sides had their promoters and detractors and the battle for supremacy was hard fought.
The hard fork was in November.
The foot soldiers in the war were the opposing mining teams. The team that mined the most Bitcoin Cash blocks the quickest would win the war.
After burning through millions of dollars as if there was no tomorrow, a truce was called and the teams no longer needed to compete.
Undefeated last men still standing
But this was not a victory for either side. The aim was to take the standard of the BCH ticker symbol to support the new token.
When the smoke and dust cleared, both sides were still standing and the market now has Bitcoin Cash SV (BSV) and Bitcoin ABC (BCHABC), which is the original BCH on some exchanges.
Bitcoin Cash (BCH) was trading at around $516 on the scheduled hard fork day, and has since dropped to $132, a floating position held for the past month. The market cap is $2.32 billion, making Bitcoin Cash the sixth largest cryptocurrency.
Bitcoin SV (BSV) started life at $70, rapidly climbing $90, then falling and rebounding almost daily ever since. The current price is $74.98 after reaching a peak of $133.21 briefly on December 21. Market cap is $1.32 billion, putting Bitcoin SV in 11thplace in the list of cryptocurrencies.
Samsung’s crypto plans for Galaxy S10
Technology giant Samsung has confirmed the new Galaxy S10 smartphone will integrate full support for a cryptocurrency wallet for Bitcoin, Ethereum and ERC-20 compatible currencies.
The ERC20 standard is a set of rules an Ethereum token contract must follow to launch a cryptocurrency on the Ethereum blockchain.
In the phone’s blockchain keystore, Samsung explains the ERC-20 rules are there for use as a dApp process for financial applications which the company envisages as more likely than use as a payment platform.