Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forks => Bitcoin Forum => Bitcoin Cash Forum => Topic started by: cryptoupdate on November 17, 2018, 12:33:09 AM
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Yesterday, the Bitcoin Cash network activated its second scheduled semi-annual hard fork since the cryptocurrency split away from the original Bitcoin blockchain. Unlike the previous protocol upgrade, however, this fork was contentious, with #DevelopmentTeam s launching two competing, incompatible BCH implementations.
Background: Another Fork in the Bitcoin Cash Road
The group adhering to the “official” Bitcoin Cash roadmap was Bitcoin ABC, which had support from most node operators, as well as prominent individuals and companies such as Roger Ver (Bitcoin.com) and Jihan Wu (Bitmain).
Several months before the fork, blockchain startup nChain, which is associated with self-described Bitcoin creator Craig S. Wright, announced that it would launch a competing client, Bitcoin SV, which introduced an alternative set of consensus changes. Billionaire Calvin Ayre, the owner of CoinGeek — the largest bitcoin cash mining pool — was SV’s other major backer.
Fellow BCH development group Bitcoin Unlimited released a BCH client that followed the ABC consensus changes by default but allowed miners to manually configure support for individual features in the ABC and SV clients in an unsuccessful bid to broker a compromise and avoid a chain split.
Strictly speaking, there could have been three competing versions if any miners decided to continue mining according to the pre-fork consensus rules, but all of the hashrate migrated to one or the other of the two new rulesets, killing off the original chain.
Nov. 15: The Hash War Begins
Note: Once the dust finally settles, Bitcoin ABC is expected to retain the “Bitcoin Cash (BCH)” label. In the interim, the community has not yet reached consensus on how to refer to the competing blockchains. In the remainder of this article, to avoid confusion, we will refer to Bitcoin ABC’s chain as BCHABC (other common names include BAB and ABC) and Bitcoin SV’s chain as BSV (also known as BCHSV and SV).
Leading up to the Nov. 15 fork, the Bitcoin Cash civil war was largely framed as a contest between users (BCHABC) and miners (BSV), with the latter boasting as much as three-quarters of the hash rate in the days preceding the split and threatening to use this superior hash power to not only acquire the most accumulated Proof-of-Work (PoW) but also to attack the BCHABC chain until users capitulated and moved to BSV.
BCHABC Builds the Longer Chain
https://samcrypto.com/bitcoin-cash-where-the-4th-largest-cryptocurrency-stands-the-day-after-the-fork/ (https://samcrypto.com/bitcoin-cash-where-the-4th-largest-cryptocurrency-stands-the-day-after-the-fork/)