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Bitcoin's money fork code has been activated.
With neither side of the conflictual debate that led to the fork that wants to compromise, two competing implementations of the protocol have now been activated. However, at this juncture it is not clear which of them will become the dominant software of the BCH network – or if two separate chains will continue to coexist in the long term.
The last "common block" among the bitcoin money miners was # 556.766, extracted from SVPool. At the time of printing, Bitcoin.com – which supports Bitcoin ABC – had extracted a new block, meaning that the two chains split into two, according to data from Coin.Dance.
To summarize, the implementation of Bitcoin ABC group, leader in the bitcoin industry, introduces a series of technical updates to the network, such as the reordering of transactions to increase the capacity of the blocks and the additional code to support greater interoperability between criptovalute.
The other implementation, called Bitcoin "Satoshi & # 39; s Vision" or Bitcoin SV, rejects these changes to restore instead the code withdrawn from the original bitcoin protocol and increases the block size from 32 MB to 128 MB.
During this event, threats of chain sabotage by the avid Bitcoin supporter SV Craig Wright have suggested the potential use of hash power to extract both a Bitcoin SV chain and create empty blocks on an opposite ABC Bitcoin chain, which could fatally damage operations on the opposing network.
Although refuted by bitcoin supporters ABC as unlikely, the data three days before the activation of Hard Fork revealed that the bitcoin cash mining pools that support Bitcoin SV actually consolidated most of the total hash power of the network, suggesting a strong ability to follow the threat.
These numbers referring to hash power are still highly subject to change. In fact, the possibility remains that mining support moves from one side to the other, as well as additional resources that are added to reinforce both chains.
With several platforms closely following the outcome of the events yet to come, the future of the bitcoin liquidity community remains to be determined.
Street image through Shutterstock
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