In line with the recent ‘press release‘ published by the Florida-based UnitedCorp [United American Corporation], it has filed a ‘case‘ against Bitmain, Bitcoin.com, Roger Ver, along with the Kraken Bitcoin Exchange. UnitedCorp alleges that the defendants planned a play to acquire control over the Bitcoin Cash [BCH] network.
UnitedCorp – Founded earlier in the year 1992 is a development and management firm focusing on the telecommunications and IT, the corporate manages a portfolio of patents and proprietary technology in telecoms, social media and blockchain. UnitedCorp conjointly owns and operates BlockchainDomes stations, that offers heat for agricultural applications.
The suit filed within the U.S. District Court for the Southern District of the Florida state alleges that the defendants put together and used unfair ways, practices to control the BCH network for their profits and detriment of UnitedCorp along with several other BCH stakeholders. The press release additional specifies:
“UnitedCorp believes that the defendants colluded to effectively hijack the Bitcoin Cash [BCH] network after the 15th Nov, 2018’s scheduled network update with the intent of improving the network — all in violation of the accepted standards and protocols related to Bitcoin [BTC] since its origin.”
Earlier on 15th Nov., the Bitcoin Cash [BCH] network underwent an ‘update‘, that divided the community into two main groups, one those in support of Bitcoin Cash ABC while other in support Bitcoin Cash SV. UnitedCorp states that the defendants took management of the coin’s network right before the upgrade employing “rented hashing.” This allegedly led to the adoption of Bitcoin Cash ABC rule sets, precluding any other implantations from maintaining a democratic rule sets.
UnitedCorp conjointly alleges that on 20th Nov., the Bitcoin Cash ABC development team placed a ‘poison pill’ within the blockchain by way of a “Deep Reorg Prevention” so as to strong then management over the blockchain ledger. The move allegedly allows maintenance of management on implementations for future network updates.
The suit seeks injunctive relief against the defendants along with the termination of perceived ongoing actions against the BCH network currently and within the future. In addition, UnitedCorp seeks compensation, the worth of that it claims would be determined at trial.
Bitcoin Cash has registered major losses for the day, at the time of reporting. The altcoin is down by over 12% over the last 24 hours and is presently trading at a price of around 104.70 USD., in line with ‘CoinChangelly‘.
Bitcoin SV [BSV], in turn, has seen noteable daily gains of over 14%, and is presently trading at a price around $105.85 USD, at the time of reporting.