Jaxx Wallet Now Supports Bitcoin Cash - Bitsonline

Jaxx Wallet Now Supports Bitcoin Cash

Jaxx blockchain interface and wallet has added Bitcoin Cash to its list of supported currencies. The three month-old currency, forked from Bitcoin in August, also had a price surge today in the wake of the SegWit2x cancelation. 

Also read: ‘Digital Gold’ Author Says Bitcoin May Not Be a Bubble After All

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The announcement came as the Bitcoin Cash price surged to $739 USD each, amid renewed interest after the SegWit2x scaling proposal was shelved.

Jaxx Comes Late to the Bitcoin Cash Party

Jaxx wallet users who had BTC at the time of the fork are also finally able to claim their Bitcoin Cash (Jaxx is using the BCH abbreviation). They can send and receive BCH like any other coin.

Jaxx is a little late to the Bitcoin Cash party — many other cryptocurrency exchanges and wallets have listed BCH for a while. On one Reddit thread, Jaxx users seemed disappointed at waiting such a long time, with many already changing their minds and switching to other wallets.

Along with BCH update, Jaxx fixed a bug concerning ETC balances and “max send” transactions. BCH is also available only on Android for now, with the iOS version still awaiting approval.

Jaxx’s Blockchain Interface and Wallet

Jaxx.io describes its product as a “blockchain interface and wallet”. It supports leading cryptocurrency platforms like ETH, Ethereum Classic, DAO, LTC, DASH, Augur REP, BTC, and several others. Keys are stored locally from a passphrase-generated seed, and the “never access or hold user funds” philosophy is central to the Jaxx wallet.

In recent updates, developers have also added several new features and bug fixes like optimization of the engine, dynamic addition of tokens, and Shapeshift exchange integration.

Jaxx’s team, which includes vocal hard fork opponent Charlie Shrem, previously refused to support BCH. Then in Sep 2017 they posted the following on their official Twitter account:

Judging by some of the responses in September, some users considered even that announcement to be too late.

New Interest in Bitcoin Cash After S2X Fork Canceled

On 1st August 2017, developers and companies backing the “Bitcoin ABC” protocol software forked the existing Bitcoin blockchain, and formed the new coin named Bitcoin Cash.

Bitcoin Cash BCH price on Coinbase today
Bitcoin Cash price on Coinbase today

Its key point of difference to Bitcoin (BTC) is the ability to process larger transaction blocks. A more modest attempt to increase BTC block sizes from 1MB to 2MB failed just this week, reinvigorating interest in Bitcoin Cash among those who prefer increasing on-chain scaling capacity.

Given BCH’s near-identical structure to Bitcoin, most service providers could easily support the fork if they wanted. However many have refused either on ideological grounds or a desire to avoid confusion with Bitcoin. Accidentally sending BCH to BTC addresses remains a problem.

Otherwise, it remains an enigma why other major wallets are not enabling BCH support so far. It has now become the fourth largest cryptocurrency, with a $10.4 billion USD market capitalization.

Do you use the Jaxx Wallet or Bitcoin Cash? Share your thoughts in the comments.


Images via Jaxx, Coinbase

The ‘Bitcoin Cash’ section at Bitsonline is sponsored by Bitcoin Cash. In hopes of bringing cryptocurrency to the masses, Bitcoin Cash has set out to provide a digital currency with on-chain scalability, so everyone can use the blockchain affordably. Learn more at BitcoinCash.org and join the official Telegram Group.

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