BCH Network suffered an attack which caused a lot of confusion among the community and there are some bizarre developments that are raising questions about the viability as an alternative method of finance as we can read in the altcoin news below.
There is a huge influx of transactions recently recorded on the BCH network which has raised a lot of issues in the community.
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The miners that do not belong to any known pool reportedly blocked the blockchain so much that full blocks started to create a backlog. There were no reported stress tests that were scheduled and it took up to nine hours to clear the blockage according to the analysis of the spurious activity. Bitcoin Cash is known for its larger block size than its biggest brother which is extremely efficient in terms of transaction times.
During the attack, the miners were able to produce up to 18 blocks per hour which are three times faster than usual and the analysis stated further:
‘’It is important to note that persistent backlogs are a death-blow to the zero-conf concept, which requires predictable next block inclusion1. As long as there is no backlog, then a recipient can know that any transaction that pays the minfee will be accepted. Under conditions of backlog, this predictability is degraded, possibly fatally.’’
In other words, this will impact the production of the future blocks and could even bring the system to a halt. The things got back to normal after the spurious activity but some other questions were raised. The low-fee transactions which were broadcasted could have been a part of the dusting attack which targeted the remnants of the crypto coins left in the accounts as the Litecoin wallets suffered a similar attack last month. Aside from the unexplained spike, the transactions on the Bitcoin Cash network have actually stagnated this year and the hash rate as well. The Mempool activity may have been an effort to inflate but there could be a slight gain expected since the trend is pretty clear. As per the latest cryptocurrency news, the price of Bitcoin Cash was not affected by the blockage but has been in decline ever since.
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