Lykke adds Bitcoin Cash to the Lykke Exchange, releases pre-fork equivalent to BTC holders
Lykke, a Swiss-based FinTech company building a global marketplace for the low-friction exchange of financial assets, today announced the addition of the Bitcoin Cash BCH token to the Lykke Exchange. This token is now available to buy and sell through the free Lykke Wallet mobile app.
Bitcoin Cash is one of the most successful hard forks of the original bitcoin BTC specification. It occurred on August 1, 2017.
Bitcoin Cash features an adjustable block size, which significantly improves the ability of the network to scale. By default, Bitcoin Cash sets the block size at 8 MB—eight times the size of the bitcoin block.
This larger block size increases the speed of transactions, while the adaptability of the design contributes to the long-term health of the network.
“We’re excited to bring Bitcoin Cash to the Lykke Exchange,” said Richard Olsen, Lykke founder and CEO. “We’re equally excited about the way that we’re able to do it. The constantly emerging innovations around the bitcoin project and the rapidly changing protocols can lead to considerable confusion among investors and create a significant impediment to adoption. Moreover, hard forks often lead to hard choices about which branch to follow, which encourages division. But this isn’t a concern on the Lykke Exchange. Our traders can easily and transparently choose among all the existing protocols and blockchains and invest on either side of the fork, all from a single point of entry.”
Those members who held BTC with Lykke at the time of the fork are retroactively entitled to the equivalent amount in BCH. This occurrence is an effect of the fork. Previously, members of the Lykke community could withdraw Bitcoin Cash to external wallets only. Now they can withdraw BCH to their Lykke trading wallet and trade BCH on Lykke Exchange. See BCH withdrawal manual for iOS and Android for complete details.
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