What is known about hard forks of Bitcoin is Cash at the moment? Summarize

Recall the recent exchange Coinbase announced support for the Bitcoin roadmap Cash published on bitcoincash.org. If it is still not clear what the outcome of “civil war” between developers BCH. At the moment there are three suggestions for hard forks that are promoted by three groups of people: ABC Bitcoin, Bitcoin and Bitcoin Unlimited SV.

Opponents offer their own versions of the future BCH:

  • in the Bitcoin ABC will add the ability to create smart contracts and Oracle;
  • Bitcoin SV will replace the scripts with their ABC Bitcoin and increase the size of the BCH block to 128 megabytes;
  • Bitcoin Unlimited will apply the upgrades proposed in the ABC Bitcoin, will increase the block size to 128 megabytes and will allow miners to vote for future updates.

On the news about hard forks of Bitcoin Cash began to grow. Today cryptocurrency is estimated at $ 601, while the first of November and its cost does not exceed $ 425.

A bit of history

Bitcoin Cash twice a year using procedure planned hard forks. However, the upcoming upgrade may lead to serious discord in the short life of the cryptocurrency. On 8 August the team published a Bitcoin ABC proposal change of Protocol consensus BCH. Detailed information about this published on the page of Bitcoin ABC 0.18.0.

A week after this publication, CEO of research company nChain Jimmy Nguyen announced his own version of the future project called Bitcoin SV. Bitcoin SV is actively supported by Craig Wright, who has previously proclaimed himself thereby Satoshi Nakamoto. Bitcoin SV will be other scripts, and larger block sizes.

Image source — La Stampa

As the proposals of both parties are incompatible, the result of hard forks 15 November may be the separation of the blockchain the Bitcoin Cash on the two separate circuit blocks. To minimize the risks, the lead developer of Bitcoin is Unlimited (the most popular Bitcoin client Cash) Andrew stone proposed a compromise solution called BUIP098. This upgrade will give the opportunity to implement change as a ABC Bitcoin and Bitcoin SV.

The proposal stone miners will have to switch to the Unlimited Bitcoin client, and then activate the features of Bitcoin and Bitcoin ABC SV by voting (BIP 139).

According to the service Coin.Dance current compatibility gcd (miners) with future updates is:

  • Bitcoin ABC — 57 percent;
  • BIP 139 — 23 percent;
  • Bitcoin SV — 5 percent.

At the same time, 45 percent of the nodes in the network indicate that the current conditions of the Bitcoin Cash they are quite satisfied, that is, no updates are necessary.

Image source — eCrypto

To hard forks less than two weeks, the major pools have already decided to support their favorites. So, Bitcoin ABC support Bitmain, Binance, Bitcoin.com and Coinbase. SV Bitcoin will get support from CoinGeek, SV Pool, and Cobra.

SUBSCRIBE TO OUR CHANNEL IN THE TELEGRAM. THERE’S MORE INTERESTING NEWS.

Leave a Reply

Your email address will not be published. Required fields are marked *