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Two new coins fight after the hard Bitcoin Cash fork

Changes in the symbol for BCHABC

CoinMarketCap listed BCHABC until November 19, but then switched to the original BCH symbol and since then has listed BCH as continuous currency after the fork when BCH has left the BCHABC symbol. However, BCHSV remains as a separate list.

Hard forks

According to Investopedia: "A hard fork (or sometimes hardfork), related to blockchain technology, is a radical modification of the protocol that validates previously valid blocks / transactions (or vice versa) .This requires that all nodes or users upgrade to the version more recent than the protocol software, in other words, a hard fork is a permanent divergence from the previous version of the blockchain, and nodes that run older versions will no longer be accepted by the latest version blockchain: a path follows the new and updated blockchain The other path continues along the old path. Generally, after a short period of time, those in the old chain will realize that their version of the blockchain is obsolete or irrelevant and they update quickly to the latest version. "

However, sometimes the two coins simply continue even if one is more dominant and more valuable than the other. Bitcoin Cash is in turn the result of a fork in Bitcoin in which the two coins continued after the fork with the biggest and most precious Bitcoin that could never convince those who supported the alternative currency to give up.

Bitcoin Cash ABC

The Bitcoin Cash ABC community is led by Roger Ver, a promoter of Bitcoin Cash, and Jihan Wu, the co-founder of Bitmain. Miners who support Bitcoin Cash ABC include BTC.om, Antpool and Bitcoin.com

The ABC version aims to preserve the original functionality and vision behind the Bitcoin Cash network. This includes the current block size of 32 MB. However, there are some improvements.

In the official post on ABC a dual approach to scaling was suggested: "Eliminate immediate bottlenecks for implementation to increase the size limit of the block, lay the technical foundation for a huge future on-chain scaling ". Scalar is the ability to handle many transactions faster with increasing the number of transactions on a platform.

The ABC version has also implemented the code for interoperability between cryptocurrencies, a feature that Bitcoin Cash did not have before the fork.

Bitcoin Cash SV the Satoshi Vision

This new coin is led by Craig Wright, sometimes called "Fake Satoshi". Satoshi Nakamoto is the name used by the founder or anonymous founder of Bitcoin. Miners who support his position include Coingeek and Bitcoin.org.

The changes in this version of Bitcoin Cash are dramatic. The block size, for example, has increased from 32 MB to 128 MB. There have also been changes that will make it easier to change smart contracts on your network.

The Hash Wars

The power of hashes or minerals is explained in the attached video. The blockchain in competition with the most power of hashes will become safer and will have a longer blockchain. If one of the competing coin chains fails to get the most of the available hash power, it will lose momentum and lead the miners to move towards the more winning coin.

The BCHABC group started about 22 minutes before BCHSV while the separate blockchains entered play. Recently the ABC version was leading the way with a percentage of hashes of 61% while the BHSCV version had only 39%.

Several people have tweeted that the ABC version had already won the war.

Wu said he would not give up on the hash war and allow Wright to win. Although he said he did not intend to start a hash war with Wright. He could fight Wright by transferring the hash power from BTC mining to BCH that extracts the ABC version. However, Wu was worried that this could cause a further decline in Bitcoin. However, WU said that Wright was relentless and therefore had to fight until his death.

Negative effects of the hash war

The hash war is damaging both sides as both are threatening substantial losses. The cost of electricity to extract each of these coins is more than it currently holds. Both networks have suffered huge losses so far. It is quite likely that the hash war had a negative impact on the price of Bitcoin.

SV miners estimated losses of about $ 397,000 with ABC miners who lost a little less than $ 365,000. ABC has an overall advantage of 11 blocks on SV. In terms of blockchain support, ABC is a leader. It is still unclear whether someone will win in the sense of the competing currency collapses completely. Bitcoin was more valuable and one could say that it won on Bitcoin Cash but Bitcoin Cash survived as one of the top ten coins, even if it is worth much less for money.

At 19:54 UTC the price of the SV version was only $ 51.26 while Bitcoin (BCH) of the ABC version at 19:59 was $ 238.50. While it seems that the ABC version is clearly ahead in many ways, both coins have increased their value in recent times. It may take some time for a coin to fail if it happens.

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