The Bitcoin Cash hard fork nears as the community awaits November 15th, 2020 so here are the key things that you need to know about it, following our latest bitcoin Cash news.
The blockchain split represents the culmination of a series of disagreements and tensions that were related to the proposed changes in the underlying code and the future of Bitcoin Cash. The altcoin was created as a result of intense disagreements between the members of the Bitcoin community. The tensions were mainly centered around the proposed changes to Bitcoin’s block size. Unable to come to agreements, Roger Ver and his supporters forked to create Bitcoin Cash on August 1, 2017.
Dubbing itself as the real Bitcoin, Bitcoin Cash had a rough patch a year later as similar tensions led to another hard fork in the camps. Tensions between Ver and Craig Wright as well as Calvin Ayre led to another hard fork which led to the creation of Bitcoin SV. Ironically, the BSV hard fork happened in 2018 and now two years later, Bitcoin Cash hard fork nears. The conflicts leading up to the November 2020 BCH hard fork are related to Amaury Sechet’s ABC node and the differences in opinion with the rest of the community.
Since its inception, the goal of BCH was to become a global peer-to-peer digital currency for low costs and high-speed transactions. This philosophy according to the community, is in line with Satoshi’s vision. However, the BCH Community is unable to agree on the architectural changes to the blockchain which are in line with this ideal. There are a number of implementations in BCH now but the most popular ones are ABC, BCHN, and bitcoin unlimited. The ABC camp led by Sechet is credited with building the mining code in BCH which gathered its own fanbase and solidified the place among BCH among top digital currencies in the market. The ABC node is advanced and supports a number of innovative changes, thus creating the foundational architecture for more improvements.
The reasons I started investing in Bitcoin in 2011 are the exact same reasons I’m investing in Bitcoin Cash today. pic.twitter.com/OpOV7OKeGN
— Roger Ver (@rogerkver) September 5, 2018
The BCHN camp led by Roger Ver is responsible for the BCH notoriety on the market due to his controversial and popular persona. The BCHN node along with other implementations is in favor of technological changes in a slower manner. due to the differences in opinion, Bitcoin Cash code to support technological advancements like Merklix sharding, adaptive block size, and Mitra, the community is split into opposing camps.
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