Bitcoin Cash splits into two new blockchains

2020-11-16 13:29

The Bitcoin Cash network has undergone a hard fork, resulting in the creation of two new blockchains

The Bitcoin Cash network has undergone a hard fork, with the parent blockchain now splitting to give way to two new blockchains. Following the hard fork, the Bitcoin Cash network gave birth to the Bitcoin Cash ABC (BCH ABC) and Bitcoin Cash Node (BCHN).

According to data from Coin.Dance, the Bitcoin Cash Node appears to be the dominant software as it accounts for 57 of the 63 blocks already mined. Bitcoin Cash ABC is the lower software, accounting for only six blocks so far.

Bitcoin Cash came about because of the hard fork of the original Bitcoin network. The Bitcoin Cash network saw its last block mined yesterday. Bitmex Research tweeted that “Bitcoin Cash: The last common block between the BCHN & BCHA networks has now been mined. The chains may now split”.

Binance mined the last common Bitcoin Cash block while AntPool mined the block that split the network. Since the split, the Bitcoin Cash Node has been getting most of the network’s hashpower as miners have mined more blocks on the network than on the Bitcoin Cash ABC network. Before the split, over 80% of the miners threw their weight behind the Bitcoin Cash Node network.

Why the hard fork?

The hard fork of the BCH network came about following a proposal by a group of developers led by Amaury Sechet. In their proposal, the developers wanted to update the network to include a controversial new “Coinbase Rule”. This rule wants 8% of all mined BCH to be redistributed to BCH ABC to support protocol development.

However, another group of Bitcoin Cash developers (Bitcoin Cash Node) opposed the proposal and removed the Coinbase Rule from the network’s source code. A hard fork occurs when some nodes on a network implement a change while others don’t. The implementation of the new changes led to the creation of the old and new software on the Bitcoin Cash network.

Hard fork already having effects

The splitting of the Bitcoin Cash network is already affecting investors and other network participants. Grayscale Investments’ Bitcoin Cash Trust lost $1.6 million following the announcement that Bitcoin Cash was forked into two new cryptocurrencies. Other network participants could similarly be affected, and some investors might move their funds to other cryptocurrencies like Bitcoin and Ethereum until the new Bitcoin Cash networks stabilise.

The post Bitcoin Cash splits into two new blockchains appeared first on Coin Journal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 97969.97 (-0.28%)
Объем 24H $103.278b
Изменеия 24h: 3.58 %, 7d: 11.43 %
Cегодня L: $94006.77 - H: $98767.29
Капитализация $1937.997b Rank 1
Цена в час новости $ 16277.75 (501.86%)

bitcoin cash splits new blockchains two journal

Источник: coinjournal.net

bitcoin cash → Результатов: 126


Bitcoin Cash $BCH Takes The Spotlight While Bitcoin Battles Selling Pressure 

Bitcoin Cash ($BCH) positions itself as a user-friendly solution for daily transactions, boasting minimal fees and swift confirmations, ideal for routine purchases and micro-transactions. Despite its designed convenience, concerns are surfacing as traders exhibit Fear, Uncertainty, and Doubt (FUD) towards assets like Bitcoin Cash and Loopring, reflected in a surge […]

2024-1-25 23:15


Каковы перспективы Bitcoin Cash после роста на 140%?

На этой неделе цена Bitcoin Cash (BCH) взлетела более чем на 100%, достигнув 13-месячного пика в $235. Ключевые ончейн-метрики указывают на возможность продолжения ралли. Во вторник, 20 июня, состоялся официальный запуск EDX Markets.

2023-6-30 12:56


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Cash (BCH) Soars 20%: Can The Momentum Last?

Bitcoin Cash price started a major increase above the $350 resistance. BCH is consolidating and might aim for more gains above the $385 resistance. Bitcoin cash price started a fresh increase above the $350 level.