Yesterday evening, there was a hard fork of Bitcoin Cash on two separate chains – Bitcoin ABC (BCHABC) and Bitcoin SV (BCHSV). It can be said that the cryptocurrency has exceeded its Rubicon a few minutes after 7 p.m. CET time. The division took place at block number 556767.
In recent days, we have observed a real war between the two camps, which was probably the reason for the declines also on bitcoin. A bit after the forks, Bitcoin ABC was closer to victory.
…and the winner is…
BCHABC has, as you can see, the advantage in terms of economy and – which in the world cryptocurrency is perhaps even more important – social. The vast majority (about ¾) of nodes have the Bitcoin ABC protocol running.
This may come as a surprise, because Bitcoin SV was supposed to have an advantage in terms of network power. He was also supported by such legends of the digital currency market as Craig S. Wright or Calvin Ayre. However, the computing power of miners was finally transferred to a competitor, Bitcoin ABC, which has 68% of the computing power of the protocol.
Recent events on the Bitcoin Cash plot resembled more the war than the phenomena occurring on the free market.
BTCSV camp wanted to use its computational advantage to … direct attack on Bitcoin ABC supporters. The plans were to dig empty blocks and reorganize the block chain. This was to discourage the diggers from supporting the latter and switching to BTCSV.
Then everything went like in an epic novel. When everything could have seemed lost, the hero came to the rescue. The advantage for the Bitcoin ABC network was obtained by Roger Ver, the owner of Bitcoin.com. By the decision to temporarily shift its computing power to the BCHABC chain, it ultimately outweighed the victory.
We hope that the end of the conflict in the BCH camp will also lead to a general calming of the crypts market and the “old” Bitcoin itself.