Nov 16, · Following the Bitcoin Cash hard fork, the overwhelming majority of nodes have shown support for Bitcoin Cash Node over Bitcoin Cash ABC.@satoshilabs will support this decision and has replaced the Bitcoin Cash ABC software running on its servers with Bitcoin Cash Node software. — Trezor (@Trezor) November 16, Nov 06, · On November 15, Bitcoin Cash will undergo a contentious hard fork. Here's what you should know. The Bitcoin Cash (BCH) blockchain will undergo a scheduled upgrade or "hard fork" on November 15, This event involves a long-standing debate between factions within the Bitcoin Cash community, each with different plans for the cryptocurrency. Sep 10, · The Bitcoin Cash community is at the beginning of a new era – Bitcoin Cash hard fork may happen on November 15, , splitting the network into two blockchains. The hard fork is a Author: Jeff Fawkes.
Bitcoin hard fork novemberThe Looming Bitcoin Cash Hard Fork: Here’s What You Need to Know
There are various ways that next week's fork could play out. Though the fork could be prevented, it is unlikely that the two factions will resolve their differences at this point. The lesser coin will be airdropped to current holders. However, it is possible that the secondary chain will not survive long enough for the lesser BCH token to be useful.
Though the exchanges listed above say that they will distribute the new coin to current holders, they have not guaranteed that they will list both coins for general trading. Each coin's market value depends on investor demand and miner profits, two things that are not yet clear.
Bitcoin Cash holders who want to ensure that they have access to the Bitcoin Cash airdrop should hold their funds in a non-custodial Bitcoin Cash wallet or an exchange that is cooperating with the airdrop. Next week's fork will have long-term implications for Bitcoin Cash.
The event will add to its divisive reputation: Bitcoin Cash was originally forked from Bitcoin in , and it produced another fork called Bitcoin SV in If the project continues to experience internal division, Bitcoin Cash could be increasingly seen as a risky investment. At the same time, Bitcoin Cash has managed to maintain its position as a leading cryptocurrency.
The fact that it has survived for three years is a good sign for its supporters, and various improvements will help it stay relevant despite its issues. Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.
Join our newsletter and be the first to know! We value your privacy, your email address is safe with us. Popular Coins. Polkadot and Sushi headline a DeFi revival. BTC rally gathers steam as Litecoin eyes highs. There are many ways to have fun online. With technology, people are given the right to choose from a myriad of online games. Follow us on Twitter or join our Telegram. The blockchain split represents the culmination of a series of disagreements and tensions related to proposed changes in the underlying code as well as the future of Bitcoin Cash.
Find out more about why BCH, the 5th largest crypto network by market capitalization, is about to fork and what you can expect to happen afterward. Bitcoin Cash was created as a result of intense disagreements between members of the Bitcoin BTC community. Ironically, the Bitcoin SV hard fork happened on November 15, , and now two years later, Bitcoin Cash prepares itself for yet another contentious hard fork.
Since its inception, the goal of BCH was to become a global peer-to-peer digital currency for low-cost, high-speed, borderless transactions.
However, the BCH community is unable to agree on the architectural changes to the blockchain which are in line with this ideal. There are a number of implementations active in BCH currently. The ABC node is technologically advanced and supports a number of innovative changes, creating the foundational architecture for future improvements. The BCHN node, along with the other implementations, are also in favor of technological changes, albeit in a much slower manner.
Due to the differences in opinion relating to how quickly or if changes should be made to the Bitcoin Cash code to support technological advancements like Merklix based sharding, adaptive block size, and Mitra, the BCH community is split into opposing camps.
However, according to J. The chains may now split. Hash rate is the cumulative amount of computing power currently applied to a blockchain. The higher the hash rate is, the stronger and more supported is the network. The hash rate of BCHA is currently in a sharp decline. Speaking to Decrypt, well-known Bitcoin Cash proponent Roger Ver noted that, in his opinion, there were never any doubts as to which network would remain the dominant one.
Such splits occur when a significant portion of the community—and, most importantly, miners—becomes unhappy with changes included in an upcoming software upgrade. This can split a blockchain into two slightly or drastically different versions. According to the proposal, a portion of each block reward was supposed to be deposited to an address directly controlled by BCH ABC.