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Review of the new forks of the Bitcoin Cash

November 20, 2018 00:19:34

Bitseven.com - Most recently, on November 15, 2018, there was a fork of Bitcoin Cash, so the cryptocurrency was separated from the bitcoin block chain. To date, developed two versions of the forks of the Bitcoin Cash.

What happened?

Bitcoin SV succeeded to get the first block, now Bitcoin Cash has 2 competing blockchains. In this case, the exchange Poloniex is much more expensive sold BCHABC compared to BCHSV. Then on Bitfinex exchange were credited coins BSV and BAB. Most affected are miners who suffer significant losses because they are trying to control the blockchain. To date, the rate of Bitcoin Cash has fallen to $400. In addition, some exchanges have frozen the input and output of the BCH.

Thus began the «war of hashrate». At first it seemed that Bitcoin Cash ABC wins, now experts do not give such forecasts. At first, the advance reached almost 50 blocks, but on November 17 it showed that the positions fell significantly to 10. Also, the two sides lost almost $1 million on electricity.

Features of Bitcoin Cash ABC

An important innovation - you can carry out non-cash transactions, use non-tokenized data. Fork Bitcoin Cash ABC allows you to create smart contracts. The main sponsor of the fork is the Bitmain pool.

Several changes have been made to the blockchain's parent network:

* it is proposed to use the canonical order of transactions, so it will solve the problem of scaling;

• using the new transaction code, you can perform cross-chain transactions;

• it is possible to choose the optimal block size.

Also, the developers in the new rule of the Protocol made a checkpoint. What's the meaning of that? Without this block, different chains are considered invalid. Previously, no one knew anything about this point. Users can opt out of this version but have greater risks.

Description of Bitcoin Cash SV (BCH SV)

One of the large pools supported the Satoshi Vision fork, which has a number of features:

• size increased to 128 MB;

* coin is used for payments.

The fork is quite alarming centralization of power, thus all networks are separate pools. Almost all crypto-currency exchanges have frozen bitcoin cash, while large platforms have abandoned the single markets of the VSN. After trading exchanges were separated coins on BSV and BCHABC. The first fork was stabilized to $ 104.

Forecast

What happens next depends on what the community prefers. Experts believe that the fork will not be used until the end. Have BCHSV and BCHABC no sufficient power to hash. We have a long time to hold Bitcoin Cash. Other experts are sure that in the future there will be two forks, only the non-updated nodes will not work, and such will be about 6%.

Summary

So, hard forks are an important part of the economic cryptocurrency system, which will appear in the future. Almost everything in the future will be created in order to improve the network. The disputed forks of Bitcoin Cash is not yet known what will result, but obviously will change kriptonyte. It is possible to improve performance, eliminate bugs, add new important functions, or, conversely, negatively affect cryptocurrency transactions.


Category: News

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