31 Jul '17, 2pm

A new digital currency is about to be created as the bitcoin blockchain is forced to split in two

A new digital currency is about to be created as the bitcoin blockchain is forced to split in two

Bitcoin faces a pivotal moment as investors are about to receive an entirely new asset called Bitcoin Cash after the blockchain supporting the cryptocurrency is forced to split in two. "The creation of Bitcoin Cash is certainly a pivotal moment for Bitcoin and its community," Charles Hayter, founder of digital currency comparison website CryptoCompare, told CNBC on Monday. "The inception of Bitcoin Cash may prove to be exactly what Bitcoin needs." On August 1st , a 'user activated hard fork' will take place. Members of the bitcoin community unhappy with the direction of the digital asset have set up an alternative 'node' called Bitcoin ABC. Nodes are required to send messages across the bitcoin network, but Bitcoin ABC will use a different set of rules, causing the blockchain (the digital ledger which records every bitcoin transaction) to fork and create two separate digit...

Full article: https://www.cnbc.com/2017/07/31/blockchain-fork-will-crea...

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