The Bitcoin Cash network, the result of a Bitcoin hard fork, has again split into two new blockchains. As of press time, Bitcoin Cash ABC (BCH ABC) has not received hashpower, which means it is possible that Bitcoin Cash Node (BCHN) will become the dominant software of the Bitcoin Cash network, according to data from Coin.Dance.
The last “common block” among the bitcoin cash miners was # 661647, mined by Binance. The first block that split the Bitcoin Cash blockchain was mined by AntPool. Since then, hashpower has been in BCHN’s favor, as miners have mined multiple consecutive blocks on the network.
To recap, a group of Bitcoin Cash developers led by Amaury Sechet, known as BCH ABC, proposed an update on the Bitcoin Cash network, which included a controversial new “Coinbase Rule”, which requires redistribution of 8% of the money. bitcoin mined at BCH ABC as a means to finance the development of the protocol.
The update is opposed by another Bitcoin Cash community group, known as the Bitcoin Cash Node, which has removed this so-called “miner tax” from its source code. When some nodes on a network adopt a hard fork and others don’t, the blockchain will split into two different versions: one with the old software and one with the new software.
Prior to the hard fork, bitcoin cash prices plunged to $ 237.54, down 7.5% from a previous high of $ 256.82, according to data from CoinDesk 20.
If BCH ABC doesn’t attract enough hashpower to produce a viable blockchain, the ABC blockchain would theoretically “disappear”.