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- Bitcoin Cash ABC (BCHA) is currently trading on Binance, Gate.io, Poloniex, and Bitfinex at a price of around $ 20.
- Due to the low hash rate, the feasibility of the blockchain is still questionable. BCHA has already released a new update with V 0.22.7
After Sunday’s Bitcoin Cash Hard Fork, a clear winner was presented, namely the field around Roger Ver and Bitcoin Cash Node (BCHN). With that, at least the controversy over the “Bitcoin Cash” name and “BCH” symbol has been cleared up, however Bitcoin Cash ABC continues to fight for a viable blockchain. With Binance, Gate.io, Poloniex, and Bitfinex, Bitcoin Cash ABC (BCHA) is available on at least a few well-known exchanges and has already been distributed to these exchange users.
BCHA started trading at USD 11.78 according to CoinMarketCap. Thereafter, the coin experienced sizeable trading volume, climbing to USD 22.91 before settling in the USD 19 to USD 21 range. However, despite the rise in BCHA’s price, there are also rumors of an imminent demise of Bitcoin Cash ABC.
The reason for this is the low hash power the network has been able to achieve so far. As Coindance data shows, the Bitcoin Cash (BCHN) network has now almost reached the level of hash rate it had before the hard fork. Conversely, the BCHA fluctuates at an extremely low level. This is also reflected in the fact that at the time of writing, 384 blocks were mined according to the new consensus rules and the BCHN blockchain was ahead of 371 blocks.
Source: https://cash.coin.dance/
This is concerning for Bitcoin Cash ABC users as only a handful of miner blocks have been included in the BCHA blockchain since November 15th. This is due to the current imbalance between too high a mining difficulty and a lack of hash rates. As a result, too few blocks are found while no improvement is in sight until the next difficulty adjustment.
The last two blocks were mined at the time of writing (8:00 UTC) on November 17th at 21:21 and November 18 at 02:14 UTC. No blocks have been created for more than 6 hours, which is not uncommon from the start. Consequently, the number of transactions that must be included in a block is correspondingly large. The most recent BCHA block contained 17,902 transactions and the previous block contained 14,047 transactions, a significant increase compared to the 1,674 of the previous block.
Contrary to expectations, there is currently at least no drama or “hash war” as with previous forks. Thus, the lead developer of Bitcoin ABC, Amaury Séchet, recognized the will of the community and the probability of a defeat already before the fork on November 12. In this sense, it also transferred the bitcoincash.org domain to subjects belonging to the Bitcoin Cash group of nodes.
Furthermore, Séchet had also stated in advance that the network would support both BCHA and BCHN implementations in order to serve companies that had accepted the coin as a means of payment. Currently, Séchet appears to continue to fight for BCHA. A few hours ago, he released a new version of BCHA, V 0.22.7.
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