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Trezor refused to support right away ...

Trezor refused to support two coins of the Bitcoin Cash hard fork at once
CONTENT

  • Crypto community angry over Trezor’s decision to support only one hard fork coin

  • Users are puzzled by the safety of BCH tokens

  • Bitcoin Cash hard fork will take place on November 15

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The developers of the Trezor cryptocurrency wallet refused to implement support for the Bitcoin Cash fork by default, which caused a wave of criticism

Trezor refused to support right away ...

Cryptocurrency walletThe popularity of cryptocurrencies all over the world continues to grow, so the topic of safe storage of their digital assets is becoming increasingly important. BeInCrypto editors … More Trezor will not support both coins in the event of a Bitcoin Cash split. The SatoshiLabs wallet developer announced this in its blog. Despite the fact that the developers acknowledge the possibility of a fork in the Bitcoin Cash network, by default Trezor will only support one of the forks called Bitcoin ABC..

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Trezor argues that community consensus and the advantage of the computing network are needed to sustain a particular network based on the results of a hard fork. It is for this reason that the developers of the crypto wallet will not rush to support two coins at once..

Source: coin.dance

It is noteworthy that at the time of this writing, the Bitcoin Cash Node network stands out with a significant gap, which has processed 758 blocks (75.8%) over the past week. Bitcoin ABC network, which SatoshiLabs claims will be supported by default, remains in the minority with only nine blocks processed (0.9%).

Premature decision

Trezor refused to support right away ...

In the cryptocurrency community, almost immediately criticized Trezor’s decision to support only one of the coins.

“Anything you do while maintaining the default ABC coin guarantees frustration and confusion for users. You will have to explain why coins suddenly fell in price by more than 90%, and then after the fact switch between networks, “- wrote on Twitter user under the nickname John Moriarty.

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Other users have wondered what will happen to their current BCH tokens after the fork on Trezor wallets.

“I love my Trezor Model T, but I still have doubts about what could happen to my BCH in my wallet …” wrote user George Donnelly.

Crypto community members have already suggested that in order to preserve BCH tokens, they will have to withdraw coins from the hardware wallet to other services, including exchanges..

Equal reward

BeInCrypto’s editors have already reported that some exchanges will almost immediately start supporting both coins when the network is split. Cryptocurrency exchange Binance, for example, has announced that it will reward BCH token holders with forked tokens in a 1: 1 ratio based on a snapshot of BCH balances as of November 15 at 15:00 UTC. If there is no separation, user balances will remain the same..

Recall that a hard fork in the Bitcoin Cash network is scheduled for November 15. The key reason for the fork was the sole decision of Bitcoin ABC developer Amory Sechet to introduce an 8% commission from all miners without a clear model for their further decentralized redistribution. At the time of this writing, the price of BCH / USDT is $ 244.

Trezor refused to support right away ...

Read about where you can get Bitcoin Cash and Bitcoin SV tokens in a special material from BeInCrypto.

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