On the Bitcoin Cash network, ABC flared up …

On the Bitcoin Cash network, ABC flared up …

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Contents

Unknown miners war broke out in Bitcoin Cash ABC network
CONTENT

  • A group of unknown miners was able to reorganize the rules of the Bitcoin Cash ABC network

  • Now miners must give 100% of their profits to the developer fund

  • Unidentified persons have threatened to continue attacks on the network for years

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A group of unknown miners launched a 51% attack on the blockchain network of the new Bitcoin Cash fork called Bitcoin Cash ABC

On the Bitcoin Cash network, ABC flared up ...

An unknown group of miners called voluntarism.dev carried out a successful 51% attack on the Bitcoin Cash ABC (BCHABC) blockchain network, replacing the coinbase rule. Users of the Bitcoin Cash thread on the Reddit platform were the first to draw this attention..

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On the Bitcoin Cash network, ABC flared up ...

It is reported that a group of miners gained control of the network hash rate, changing the percentage of commission charged from each mined block for the fork developers fund from 8% to 100%. Thus, the attackers made mining on the network completely unprofitable. Against the background of the attack, the miners published a post on their Twitter page with the words “the price of freedom is high”.

In fact, a group of unknown mayers implemented a soft forkIn the cryptocurrency world, a fork is, in fact, a change in the blockchain protocol. Since cryptocurrencies operate in decentralized networks, all parties … More, since with the new coinbase rule, miners must give 100% of their profits to the fund of initiators of the BCHABC fork.

Old guard

The miners themselves wrote on Twitter that they are a group of old miners and cryptokits, and also threatened to continue attacking the network for “years”.

“We can do this for years. Next time you fork, use your own genesis block, your own potential, algorithms and create your own community. BCH is protected, ”wrote voluntarism.dev.

After such a forced soft fork, ordinary miners did not want to give 100% of the reward to developers and stopped mining blocks. Thus, only a group of attackers remained among the active miners of BCHABC.

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Also, unknown miners said they would protect any attempts to bypass the new coinbase rule. It is not known whether the new miners are the same group voluntarism.dev. Later, Ethereum co-founder Vitalik Buterin drew attention to the attack.

“It looks like the mining pool is carrying out a 51% attack on BCHA to kill the blockchain,” Buterin wrote on his Twitter page..

It is noteworthy that last week, some unknown miner already hinted at the upcoming dump of the BCHABС price. BeInCrypto’s editors reported that someone stopped the network, mining completely empty blocks with the signature “/ Nov 25h 2020 /”.

However, later it became profitable to mine blocks on the Bitcoin Cash ABC network, and another group of unknown miners mined several large blocks in the hope of seizing control over the hash rate and again changing the coinbase rule.

Source: coinmarketcap.com

At the time of this writing, as the use of cryptocurrencies grows, new types of tokens appear. They can represent value or something intangible like voices. Two … More BCHABC is trading at $ 16.91 (-2.98%).

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