The Battle Of BCH Blockchain Hash Power: ABC Chain Manages To Surge Ahead BSV By Design?

2018-11-20 10:56

There was a major public sensation as eyes were fixed on the Bitcoin Cash network over the latter part of this week. This was because of the blockchain split which took place, breaking it into two after the last common block was discovered within the chain, spanning an overall height of 556766.

As of right now, both chains have continued to work at a stable pace, but as it continues to progress, the ABC Chain is still taking a commanding lead over its contemporary, SV Chain.

Just in case you're wondering…

The HASH WAR is still going on.

Most likely, it will go on for days… maybe even weeks.

Satoshi is relentless & pissed off. He will not back down.#Bitcoin (BCH) pic.twitter.com/KZZ5bTG8mX

— Mike Relentless [SV] (@mikerelentless) November 15, 2018

A Day To Remember For Bitcoin Cash

Within the stretch of 12 hours, an international community of cryptocurrency enthusiasts have been keeping an excited yet anxious eye on the Bitcoin Cash (BCH) network fork from Thursday 15th of November.

As many fans came to expect of it, the BCH chain subsequently split in two, with miners on both sides mining each of them at the moment. This split was formed and cemented when SV miners processed block 556767 at exactly 1.22pm Eastern Time on a completed different chain than the one which was mined successfully by Bitcoin.com at exactly 1.00pm Eastern.

Spectators have come to refer to this particular division and subsequent block mining race the ‘Hash War‘, as either side attempts to mine the most blocks.

There's been a great deal of debate between the respective sides as the fork debate continues to escalate and progress. Recently, a number of live streams were broadcast from the two camps across the same day.

As mentioned by a number of other news outlets, Jihan Wu remained relatively quiet across the early point of this week, but he has since re-emerged to hand a personal congratulations to Bitcoin.com for being the first to mine the first block with the ABC ruleset changes being made shortly before.

The CEO of Bitmain went on to tweet to his innumerable followers with the following statement:

“There will be no more negative gamma after this block in BCH community. Congratulations.”

Craig Wright, one of those profound figures that presents himself as one of the more vocal individuals on twitter remained relatively quiet and concise with his statements as the fork was taking place.

This changed when the block height reached 556781, which was when the SV Chain had managed to take a brief lead over its ABC rival.

During this time, Wright took the initiative and wrote the following:

“In all this, no user transactions are lost — And SV is ahead.”

Wright went on to appear on the podcast channel Hashwar.live on Keyport.tv with the BCH Boys, Daniel Krawisz, and Ari from Cashpay Solutions. One of the other preferred web desinations that onlookers went onto discuss the magnitude of the fork was on the Coinspice live stream channel, which saw its fair share of traffic from fascinated spectators.

This particular stream saw members of the community such as Bitcoin.com’s Roger Ver, Ethereum’s Vitalik Buterin who briefly visited, Andreas Brekken of Shitcoin.com, and many more special guests.

One of the spectators was Michael Matthews, one of the cryptocurrency thinkers of Twitter, who has been keeping a close watch on the fork and race between both ABC and SV. As of an update from under an hour ago, ABC is still in a firm lead by 32 blocks.

173 blocks have been mined under the new consensus rules.

Bitcoin ABC is currently 32 blocks ahead.

NOTE: It appears Bitcoin ABC cannot sustain 8 exahashes.#HASHWAR #Bitcoin (BCH) pic.twitter.com/EPKDAJmIKg

— Mike Relentless [SV] (@mikerelentless) November 16, 2018

As of Now, The ABC Side Is In A Commanding Position, With More Blocks, More Work, And Hashrate

Throughout the course of the day, there were a significant number of large blocks which have been mined on both chains. On the ABC Chain, Bitcoin.com, and BTC.com specifically processed some blocks between 4-8mb in overall size.

On the SV Chain, by comparison, Coingeek and a number of other pools managed to mine a few large blocks as well during the first few hours of the fork. Initially, BTC.com and Bitcoin.com pools found most of the ABC blocks between them, but later on, the Antpool of Bitmain began mining extensively on the ABC Chain.

Following on from this, the Chinese mining pool Viabtc then followed on with Antpool and began to chip away at the ABC Chain side. In comparison, Coingeek and SV pool began to mine the first SV Chain blocks. BMG Pool, however, did not jump in until much later, managing to only mine a couple of blocks in total compared to its counterparts.

As it stands so far, the ABC Side of the chain has more than a 32 block lead over the opposing SV side and a significantly higher hashrate when compared directly. This being according to a number of different sites and analysts that have been monitoring the divide since it began on Thursday.

Along with this, the SV side of the forked chain became a bit sluggish once it hit on block heights 556812 through to 556814 compared to ABC.

According to a number of statistics given earlier on this week, the overall summary of the hourly  BCH Hashrates by each network demonstrates that the SV Chain's processing power has begun a steady tapering off of its potential from around 10pm Eastern Time.

At 12.45 am Eastern on November 16th, the ABC Chain has demonstrated an overall hashrate of around 8.9 exahash, while the hashrate for the Bitcoin SV Chain has only managed to muster a total of 3.5 as of earlier reports.

The Forkmonitor.info tool created by Bitmex also shows the ABC chain is well ahead of the SV chain by accumulated proof-of-work.

Of course, there will be a continuing level of discussion as this continues to move forward, especially regarding this fork over the next few days, and, as many in the mining and cryptocurrency worlds believe, for even longer than just that.

BCH community members will have to wait and see for right now as to how infrastructure providers plan to deal with this split long term. Alongside this developing issue, observers will also have to make an effort . to closely monitor both chains for future developments and keep a closer eye on the cryptocurrency market action.

What are your thoughts on the action as its taking place on the Bitcoin Cash chain as of November 15th? Who do you think will win out this Hash war between ABC and SV? Let us know!

Similar to Notcoin - Blum - Airdrops In 2024

origin »

IoT Chain (ITC) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 3.34 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.1071 (-100%)

chain blockchain two breaking took split week

chain blockchain → Результатов: 126


Фото:

IBM and MineHub Technologies Collaborate on Metals Supply Chain and Global Mining Solutions Using Blockchain

In an effort to bring new solutions to global mining and the metals supply chain, IBM and MineHub Technologies have announced a collaboration. The two partners will use blockchain technology to improve logistics, financing, operational efficiencies, and reduce costs in the mineral concentrates supply chain from the mine to the end buyer.

2019-1-17 20:29


Capital Goods Chain CNH works with IBM on Blockchain Enhancements

One of the world’s largest capital goods companies has agreed to a multiyear deal with IBM to implement blockchain technology, a press release confirmed July 26. While details of the implementation remain limited, CNH will leverage IBM Blockchain, a bespoke platform based on Hyperledger technology delivered through IBM Cloud, which has seen implementations across global

2018-7-27 21:02


MOBI And CPChain Partner To Implement Automobile Blockchain Technology

Recently, Cyber Physical Chain (CPChain) and the Mobility Open Blockchain Initiative (MOBI) decided to start a partnership that can have a considerable impact on the crypto and in the auto market. CPChain is known for being a fully-scale decentralized data infrastructure designed specially for internet of things systems. MOBI is a nonprofit organization that works […]

2018-7-26 15:23


Lambda ICO

Lambda is a fast, safe, and scalable blockchain infrastructure project, which provides decentralized applications (DAPPs) data storage capabilities with unlimited scalability and fulfills services such as multi-chain data co-storage, cross-chain data management, data privacy protection, Proof of Recoverability of data (POR), Provable Data Possession (PDP), and distributed intelligent computing through logic decoupling and independent implementation of Lambda Chain and Lambda DB.

2018-7-26 09:53


Фото:

Nanjing China to Launch $1.5 Billion in Local Blockchain Project Funding

Nanjing, the capital of China’s Jiangsu province, has launched a 10 billion yuan ($1.48 billion) investment fund for blockchain development, ZDNet reports July 23. Nanjing unveiled the major new fund at the inaugural Industrial Public Chain Summit (IPCS), together with the Zhongguancun Blockchain Industry Alliance –– a Beijing-based alliance of enterprises and government research institutes.

2018-7-24 02:26


STARKs, Part I: Proofs with Polynomials

Special thanks to Eli Ben-Sasson for ongoing help, explanations and review, coming up with some of the examples used in this post, and most crucially of all inventing a lot of this stuff; thanks to Hsiao-wei Wang for reviewing Hopefully many people by now have heard of ZK-SNARKs, the general-purpose succinct zero knowledge proof technology that can be used for all sorts of usecases ranging from verifiable computation to privacy-preserving cryptocurrency.

2018-7-21 23:03


Notes on Blockchain Governance

In which I argue that “tightly coupled” on-chain voting is overrated, the status quo of “informal governance” as practiced by Bitcoin, Bitcoin Cash, Ethereum, Zcash and similar systems is much less bad than commonly thought, that people who think that the purpose of blockchains is to completely expunge soft mushy human intuitions and feelings in favor of completely algorithmic governance (emphasis on “completely”) are absolutely crazy, and loosely coupled voting as done by Carbonvotes and similar systems is underrated, as well as describe what framework should be used when thinking about blockchain governance in the first place.

2018-7-21 23:03


‘Sledgehammer’ singer Peter Gabriel invests in crypto company, Proverance

On 18th July, British startup Provenance received additional funds from legendary musician Peter Gabriel, the lead for the band Genesis. Provenance is a blockchain technology company which is based on the supply chain industry, the company also received funds from Working Capital Fund, Digital Currency Group, Merian Ventures, and Plug and Play. Jesse Baker, the […]

2018-7-21 07:25


Changing credibility with blockchain through Targeting Media Ecology

In the process of shared transaction, media information is subject to being copied or washed by other media. Then how does the PR Chain break the asymmetry of information, making everyone the information center, making them resource link points, and establishing such “attention economy” blockchain media platform? Making use of the technology to protect information,

2018-7-21 01:24


Aergo Token: How AERGO’s Chain, Hub & Marketplace Work?

AERGO is an exciting new enterprise-ready platform that will enable developers and large enterprises to create custom blockchain apps in the cloud. The platform allows developers to efficiently build their blockchain decentralized apps on permission-less or permissioned chains as well as a host of other configuration options. The middleware layer in this platform is also […]

2018-7-18 14:48


Фото:

Will Softbank acquire Ludos as their next move into a blockchain?

With Softbank, Ludos’ investment partners have now grown stronger and this serves as a recognition for Ludos’ leading position in terms of public gaming chain development. Ludos aims to bring in players who can transform the gaming experience and provide game developers with an integrated game development environment. With Ludos, consumers in Japan will be

2018-7-18 09:54


Will Ludos be Softbank’s next move into blockchain?

Project PAI, Softbank has made its second move, following its previous investment in a blockchain game public chain project. Softbank has recently announced its’ partnership with Ludos. Prior to this merger, top-tier crypto-investment firms including DU Capital,  BA Capital and Collinstar Capital have participated in the Angel round. With Softbank, Ludos’ investment partners have now […]

2018-7-18 03:37


Фото:

Promoted: The Future of Online Shopping Is Powered by Spl.yt — A Decentralized E-Commerce Protocol

As a rapidly growing business sector, e-commerce continues to open up new avenues for exploring, comparing and purchasing products worldwide. Spl. yt, a smart contract protocol, aims improve the e-commerce system for buyers and sellers by automating functions currently performed by “middlemen” marketplaces like Amazon, eBay and Alibaba.

2018-7-16 19:45


Hong kong Block chain Finance Trade

Hong Kong’s de facto central bank will launch its own blockchain trade finance solution with 21 banks in August, Financial Times (FT) reported Sunday, July 15. The joint venture between the Hong Kong Monetary Authority and Chinese company Ping An Group’s fintech subsidiary OneConnect aims to substantially reduce paperwork, costs security risks for participants, FT

2018-7-16 18:36