BCH and ETC pairings with GBP and BTC are now on the menu.
London Block Exchange (LBX)—the UK’s first dedicated cryptocurrency exchange has added Bitcoin Cash (BCH) and Ethereum Classic (ETC) to their platform. It can be noted that both cryptocurrencies forked away from their legacy chains (BTC and ETH, respectively) in retaliation from what were seen as violations of the original visions behind them.
Yesterday, the exchange announced that they now support GBP (Great British Pounds) and BCH pairs, as well as Ethereum Classic (ETC). BCH and ETC to BTC pairs are also on the menu. This would supposedly set them apart, as these pairings are uncommon in the market.
“This means that not only are we the sole operator in the market to offer UK onshore banking, but we are also one of the only exchanges in the world to offer a GBP pairing for Bitcoin Cash and Ethereum Classic,” the exchange wrote on their website.
LBX CEO and founder Benjamin Dives says they plan to add more cryptoassets depending on what the community wants.
“As we open our doors to UK crypto enthusiasts, we’re listening and acting on what the community wants – and that’s an array of good quality coin options to trade; all backed by a reliable, comprehensive and user-friendly service that they can trust,” Dives says.
nChain CEO Jimmy Nguyen applauds the move, saying in a press release:
“The decision to list Bitcoin Cash shows that the London Block Exchange is listening to the market. Bitcoin Cash is the future. With faster transaction times, lower transaction fees and greater security, Bitcoin Cash represents the true vision of a peer-to-peer electronic cash system.”
Bitcoin Cash is gearing up for massive upgrades on May 15, including a 32Mb block size upgrade and the resurrection of certain OP_Codes that would enable smart contracts and tokenization on the blockchain—something Ethereum currently holds dominance over. Nguyen predicts massive growth for BCH, and a decline for others as it overtakes.
“This move highlights the potential of Bitcoin Cash as the one true all-in-one coin, which can do what all other cryptocurrencies and blockchains claim to do. We expect investor demand for Bitcoin Cash to grow, while demand for legacy Bitcoin Core (BTC) and other cryptocurrencies declines,” Nguyen says.
“A protocol upgrade will occur on May 15, and this will further improve the Bitcoin Cash network. At this point, the BCH block size will increase from 8MB to 32MB, which will significantly increase throughput capacity to handle transactions, as well as keeping transaction fees very low as network usage grows. This protocol upgrade will also restore certain OP_Codes in the Bitcoin scripting language, and enable smart contract and tokenisation solutions on the BCH network.”
Nguyen says the upcoming May 15 upgrade is just the beginning, as Bitcoin Cash prepares for even more massive scaling.
“After this May 2018 upgrade, expect more steps toward massive on-chain scaling of the Bitcoin Cash network. We envision a future with massive block of 1 gigabyte (1000 MBs), and even 1 terabyte (1 million MBs), to achieve a powerful BCH data network that will re-invent how global business is done,” Nguyen says.