The CEO of Money Button, Ryan X Charles, recently appeared on a video to speak about the ways the upcoming Bitcoin Cash [BCH] fork could affect the network, and detailed the specifics of how the negative consequences of a chain split could be avoided. Moreover, he also spoke about how the price of BCH as a whole could be decided.
He stated that a transaction should be considered invalid if it is invalid on any of the chains. He went on to detail how this could be implemented on Money Button, elaborating:
“What we do is we run both nodes. When a transaction comes in either somebody sends money to the wallet or send money to another user… we only recognize a transaction if it’s on both chain simultaneously otherwise we either mark it as a split transaction or you invalidate it or something like that.”
In order to access split transactions, the user can export their private key and enter it on Bitcoin.com, where they could access CDS transactions. Similarly, on another wallet like Handcash, users can access other types of transactions.
He further revealed that Money Button will operate on both chains and with any wallet that doesn’t cause or support a split. He went on to say:
“There’ll end up being two block chains but three transaction histories. There’s a transaction history that’s valid only on ABC, there’s a transaction history that’s valid only on SV, and then there’s a transaction history that’s actually valid on both chains simultaneously. That is what we’re going to be on, will be on the transaction history that is unified.”
Moreover, for the price discovery of the coin as BCH, it would be the price of the Bitcoin ABC token added to the price of the Bitcoin Cash Satoshi’s Vision coin. This would then provide a unified price for the coin, which can then be assigned to the ticker symbol on exchanges.
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