To reduce tension in the heart of bitcoin investors and traders some bitcoin payment processor has started revealing there plans towards the event of August splitting.
*Yesterday July 27th **Bitpay** reveal that many misinformation concerning updating bitcoin consensus rules and the firm does not mean they are going to suspend services for that said day, they think the folk risks are minimal.*
This is the contention
Bitpay reveal that a rules state that the consensus rules initial are chosen by the miners and clearly noted that the full node operators needs to upgrade there software in order to continue to fully validate the blocks transactions that miners produce. This notion some miners or individuals can disagree with this and veer off from the main chain which can simply bring about heightened risks.
*Therefore bitpay world largest bitcoin payment processor decree yesterday was that the mining community has already activated the consensus changes so *comes August 1st there will be no chain split and disruption in service on the bitcoin network. Meaning there service continue on that day.
On the other hand Coinbase reveal that there priority is the safety of there customer funds also when the event of a fork they want to make sure that customer fiat currency and digital currencies are safe.
Following the changes to the bitcoin software it is likely to create two separate version blockchains and two separate digital currencies. (Bitcoin and Bitcoin Cash)
Coinbase has reveal that they will only support one version claiming that they do not have plan for bitcoin cash fork due to the fact that it is hard to predict how long the alternative version of bitcoin will survive and thinking if bitcoin cash will have future market value.
*Coinbase have the plan to temporarily suspended bitcoin buy/sells, deposit and withdrawal on August 1 as against **Bitpay** plans.* ___
