On November 15, BCH developers prepared to undergo its next hard fork, a split of the blockchain, which would give birth to new tokens named Bitcoin SV (Satoshi’s Vision), Bitcoin Unlimited and Bitcoin ABC.
Well, the fork is now almost complete and it seems that Bitcoin (ABC) is the winner with Bitcoin SV nodes already crashing.
At the time of reporting few blocks were already mined on the Bitcoin ABC blockchain.
Crypto journalist, Joseph young also tweeted:
Bitcoin Cash (ABC) ahead, more hash power, more activity, higher price. 4x higher price (margin).
Seems like a win for BCH. Jihan Wu and Chinese miners not even needed. Certainly not enough for a 51% attack on BCH. BSV nodes reportedly crashing.
Faketoshi lost, community won pic.twitter.com/5LzuKMX3lf
— Joseph Young (@iamjosephyoung) November 15, 2018
What does it mean for Bitcoin cash?
The future development of Bitcoin Cash is seen by the developers as the implementation of three core ideas.
- Improving 0-conf transactions for making the payment experience instant and reliable without changes to the consensus rules.
- Enabling massive on-chain scaling through the removal of the mempool admittance code and mining RPC.
- Improving fungibility.
With “Adjustable Blocksize Cap” as the faction’s name and slogan, this most popular Bitcoin Cash client also acts in the interest of node operators and intends to allow them “to adjust their block size limit.” The changes are planned to be implemented by “removing software bottlenecks.”
What will the effect on bitcoin ABC prices? Any guesses.
I am an entrepreneur and a writer with a bachelors degree in Computer Science. I manage the blockchain technology and crypto coverages at Coingape. follow me on Twitter at @arya_achal or reach out to me at achal[at]coingape.com.