BCH Hard Fork Opens Up These Three Possibilities Says Blockchain Security Company PeckShield Inc.

Published November 15, 2018 | Updated November 15, 2018

Bitcoin Cash Fork

BCH Hard Fork Opens Up These Three Possibilities Says Blockchain Security Company PeckShield Inc.

Well, the day is here when Bitcoin Cash will be hard forked. The drama regarding BCH community split had kept this forking event into the media limelight. Not many people are aware of how all this is going to play out, but PeckShield

Inc. which monitors blockchain closely has put out possible outcomes of how this forking event could play out.

3 possible ways for this forking event to play out

PeckShield Inc. which publishes reports to identify hidden vulnerabilities, expose zero-day exploits, and defend against emerging threats has had a close eye on the BCH forking drama and updates that have been unfolding over past couple of months. Considering the facts and using its analytical intelligence Peckshield has put forward three possible way this Bitcoin Cash Fork event could play out.

According to PeckShield, BCH hard fork will bring three possibilities:

  1. Based on the existing hashrate, BCH SV may implement a 51% attack on BCH ABC, which may force BCH ABC to mobilize BTC hashrate to fight, and finally conduct the same attack in reverse, leading to a lose-lose situation;
  2. One of the public chains, after the hard fork, may not be able to produce blocks steadily for a long time due to the lack of miners and users, and gradually disappear;
  3. The two public chains may operate independently, and meanwhile, the existing BCH assets will have a significant change. BCH and its forked coins will fluctuate with a high probability in the short term, which may even induce general fluctuations in the industry.

PeckShield has a track record of providing so spectacular insights in the past and its credibility of research and foresight is one of the best in the industry. Some of its other recent work includes EOS fake attack upgradation where over 60K EOS Tokens Lost by EOSCast and its finding which explained the loophole on how EOSBet lost 140K EOS tokens.

Meanwhile, BCH, which seems to have inflected the crypto market meltdown due to is forking event, is down almost 18 percent and currently sits at USD 431.17. It has lost nearly all the gains that it had collected over the past two weeks and this high selling is a sign that investors are not interested in the crypto units resulting from a hard fork event.

Source: Coinmarketcap

Let’s see which of the PeckShield’s picked up outcome actually plays out in days to come.

What is your view on the future of BCH and its Fork? Do let us know your view in the comment section

 

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Nilesh Maurya 689 Articles
Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.
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