Bitcoin Cash Miners Prepare for Network Split

Bitcoin Cash Miners Prepare for Network Split

How to Prepare for the Bitcoin Cash Airdrop / Fork / Split – Collin’ It Like It Is #104

Contents

Bitcoin Cash Miners Prepare for Network Split
CONTENT

  • Bitcoin Cash is on the verge of a split that will create a new cryptocurrency

  • The upcoming fork is scheduled for November 15

  • These are not the first disagreements within the Bitcoin Cash community.

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Bitcoin Cash Blockchain Miners Demonstrate Clear Intention To Split Network On Upcoming Fork Scheduled Nov 15

Bitcoin Cash Miners Prepare for Network Split

Most miners are in favor of a split in the Bitcoin Cash blockchain. At least this is indicated by the data of the analytical service Coin Dance. At the time of this writing, 705 of the last 1000 blocks in the Bitcoin Cash blockchain have been mined using a Bitcoin Cash Node (BCHN). The dominance of blocks mined with BCHN has already reached 63.2%.

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Source: coin.dance

The Upcoming Fork In the cryptocurrency world, a fork is essentially a change in the blockchain protocol. Since cryptocurrencies operate on decentralized networks, all parties … More is scheduled for November 15, 2020. It will result in the separation of the Bitcoin ABC project with a commission cost function of 8% of each mined block. The key discord over the innovation was the sole decision of Bitcoin ABC developer Amaury Sechet to introduce fees without a clear model of their decentralized redistribution. As a result of the fork, the project with the highest hash rate in the network will have the right to bear the name Bitcoin Cash..

One in the field is not blockchain

Despite the increased activity of BCHN, the project itself is significantly inferior to Bitcoin ABC, the number of nodes of which is already 41.04%. Nonetheless, BCHN enjoys the support of the Bitcoin Unlimited community, whose share is 45.42%..

Bitcoin Cash Miners Prepare for Network Split

Source: coin.dance

At the time of this writing, BCHN and Bitcoin Unlimited in total surpass Bitcoin ABC by almost 15% in terms of the number of nodes.

Bitcoin Cash Miners Prepare for Network Split

Eternal controversy

The final split of the Bitcoin Cash blockchain was announced in early September by the main supporter of Bitcoin Cash, Roger Ver. Then the founder of the Bitcoin.com website thanked the Bitcoin ABC community for the distribution of additional tokens that will appear as a result of the upcoming network split..

Source: twitter.com

It is noteworthy that disagreements have long been observed in the Bitcoin Cash project itself. At the end of May, Ver said that the nascent maximalism towards Bitcoin Cash would ultimately lead to the rejection of a protocol update that would allow block sizes over 32MB..

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It should be noted that this is not the first fork in the history of Bitcoin Cash. Two years ago, on November 15, 2018, at Bitcoin Cash networks a hard fork has already taken place, which resulted in the emergence of a new project – Bitcoin SV (BSV). Then the discord was based on two visions of what block limit in the blockchain network should be set (supporters of Bitcoin ABC [then the project was supported by the Bitcoin Cash community] were in favor of 32 MB, and supporters of Bitcoin SV – 128 MB). At the time of this writing, the price of BCH / USDT is $ 259, and the cost of BSV / USDT is $ 172.

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