The Bitcoin Cash Node is now the leading chain after the recent Bitcoin Cash hard fork as we reported in our recent bitcoin Cash news.
Bitcoin Cash is the 6th largest crypto network by market capitalization but Bitcoin Cash Node is now the leading chain, surpassing BCH ABC by a wide margin. According to coin.dance data, the BCHN chain is now 56 blocks ahead of BCHA after the hard fork as it seems that the longest chain will win. The absolute majority of the miners shifted their computing power towards the main BCH supporter Roger Ver-led BCHN chain thus boosting the speculations that the blockchain will not result in a new viable chain.
BCH trades at $246 and got down by 3% in a day about 7.5% in one week. One day ago, the crypto exchange Coinbase announced that they will be temporarily halting all BCH sending and receiving processes to and from Coinbase and Coinbase Pro:
“We’ll re-enable sends/receives once we’ve determined the upgrade is stable.”
As per the recent reports, the conflicts which led to the November 2020 BCH hard fork which are related to the Amaury Sechet’s ABC node with the main differences in opinion in his camp as well as the rest of the BCH community. The Bitcoin ABC camp which is led by Sechet, is mostly credited with creating the mining node in BCH which mostly gained his fanbase and solidified the Bitcoin Cash place among the main digital assets on the market. The ABC node is technologically advanced and is able to support a number of innovative changes thus creating foundational architecture for more improvements in the future.
Currently there’s a high chance the BCHA side of the #BitcoinCash split won’t result in a viable chain. It’s been 8 hours and there’ve been only 4 blocks mined by one miner — the current BCHA hashrate is 12 times lower than it was before the split. Here are the main issues: pic.twitter.com/TWSIEoHfMQ
— Nikita Zhavoronkov (@nikzh) November 16, 2020
The BCHN camp which is led by Roger Ver is the one responsible for the BCH notoriety or its popularity on the crypto market because of his controversial but popular persona. The node along with other implementations is in favor of the technological changes but in a very slow manner. Because of the differences in opinion on how the changes should be implemented to the Bitcoin Cash node in order to boost the technological advancements such as Merklix that is based on sharding, Mitra, and adaptive block size, which is why BCH now split into two opposing camps.
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