On November 15, 2020, the Bitcoin Cash blockchain experienced network upgrades and chain forks. While the Bitcoin Cash network continues to operate smoothly, the chain’s ABC Professional Infrastructure Financing Program (IFP) started difficult and slow. Since the 15th, the unnamed ABC chain has so far processed 197 blocks because some miners have pointed the hash rate to the network to keep the new blockchain running.
Just recently, when the full-node project Bitcoin ABC decided to bake IFP into the code, Bitcoin Cash (BCH) experienced a network upgrade and consensus split. IFP is controversial. In the months before the fork, miners and main business departments began to switch to non-IFP nodes BCHN and other full node implementations.
The height of the last ordinary Bitcoin Cash block on November 15, 2020 was 661,647, which was mined by Binance. After that, at around 12:33 pm Eastern Time, ABC pro-IFP continued to act as its own chain, mining two different blocks. At this point in the afternoon, Bitcoin Cash (BCH) was 20 blocks ahead of the ABC chain.
As of today, the ABC chain has processed 197 blocks because the miners have specifically Trace amount of SHA256 Hash to the backup network. Coin Dance statistics show that ABC airdrop coins have approximately 0.13 exahash (EH/s) per second, while BCH is dedicated to 1.93 EH/s of the Bitcoin Cash chain.
ABC found 197 blocks, while BCH miners found 1093 blocks according to the new consensus rules. At the time of publication, the ABC chain (also known as “BAB”) has three known mining pools that point the hash rate to this chain. Viabtc, BCHA Pro, and Mining-Dutch are all mining the token, as well as a greater hash rate for invisible miners.
Most BAB hash functions are creating blank blocks.
Using coinbase news to say:
/ November 25, 2020/
— Restructuring risk warning in BAB / BCHA / ABC — pic.twitter.com/5SskQ9dw8H
-Javier Gonzalez (@JavierGonzalez) November 21, 2020
More than 79% of the ABC airdrop network is mined by a group of unknown miners. In the past 24 hours, the unknown hash rate has been mining consecutive empty blocks. The empty ABC chain block also has a coinbase parameter message, which once said: “/November 25, 2020.” Although, the coinbase message has been changed in recent hours.
On Sunday, Bitcoin Cash supporter Javier González (Javier González) Tweet BAB chain is at the extreme risk of blockchain reorg. “The empty BAB block now contains the following message:’> November 25, 2020: bcha dump | http://voluntarism.dev:6174 u/p: x/x,'” Gonzalez wrote.
of $ BCHA Miners who previously mined empty blocks now also signal “November 25, 2020: bcha dump”. The chain has been under attack for more than a day. Moreover, the attack is very cheap-for example, at the current hash rate, a 51% attack only costs $300 per hour. pic.twitter.com/go9rYSmHzA
-Nikita Zhavoronkov (@nikzh) November 22, 2020
Many people are speculating about what happened on November 25, but no one knows what will happen. Yesterday, during the skyrocketing market, the trading price of BCHA (ABC Chain or BAB) was USD 21 per token. On Sunday, the trading price of tokens on Coinex was 18.93 USD per unit. If the price of each BAB token hovers around $18.93, then the overall market value of the token will be approximately $350 million. This estimated market valuation will place the token of the unnamed ABC chain at the 47th place in market value.
At the same time, many crypto enthusiasts have been posting the topic of how to split coins. Hayden Otto, CEO of Bitcoinbch.com, posted a video on how to easily split tokens using Coinex exchange. However, since unknown miners have been mining empty blocks and the blockchain is much slower than other networks, the ABC chain confirmation time may be very long.
In addition, on November 20, 2020, the official Twitter account of Bitcoin ABC Tweet About the new chain. The team explained that an official brand will be launched soon.
“BCHA will soon be branded with the official coin name, logo and stock number. The ABC team revealed in a blog post: “When it starts, we will directly contact the exchange and other companies to make them aware of this. a little. “Unfortunately, the unnamed chain has no replay protection, and the ABC developers simply pointed out: “Splitting coins can be tricky, so be careful. “To solve this problem.
What do you think of the development and new network of the ABC chain? Let us know your thoughts on this topic in the comments section below.
Picture Credits: Shutterstock, Pixabay, Wiki Commons, Coin Dance Statistics,
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