United American Corporation (UnitedCorp) filed a suit against Bitmain, Kraken Exchange, Bitcoin.com, and Roger Ver, et al. for exploiting specialized techniques to maneuver BCH to their own advantage
Miami’s UnitedCorp, a blockchain-based telecommunications company, announced on 6 December that it submitted a case against Ver and the firms it suspects to be involved in an unfair and misleading scheme to take hold of the BCH network, after the hard fork, for their own gain. UnitedCorp perceived that the effort to hijack the network was the cause of the meltdown, detrimental to the company and other BCH stakeholders.
The suit was filed in the US District Court for the Southern District of Florida.
The dispute seeks for the court to prohibit and prevent the defendants from continuing ongoing activities hostile to the BCH network. The telecommunications company also seeks compensation for the damages inflicted. The amount will be determined during trial.
The Premise of the Lawsuit
After the 15 November hard fork, UnitedCorp maintains that Ver et al. promptly took control of the network through ‘rented hashing’ which is against the fundamentals of the blockchain. Rented hashing is the interim deployment or redirection of computing power to gain governance of the network.
Bitcoin ABC became the leading chain by the time the rule set was laid and rented computational power was lifted. UnitedCorp supposes the leased hash power’s purpose was to artificially sustain a longer chain for ABC.
By 20 December, it is said that ABC’s team put a ‘Deep Reorg Prevention’ in the blockchain to solidify control over the ledger.
The press release emphasized that no individual or entity should be permitted to gain control of a cryptocurrency network.