After a November 15, 2018 network upgrade, BCH forked into two competing chains that have been battling for miner votes to lead the network rule set. ABC supporters used a burst of rented hash power to create the illusion of an early lead, whilst the Bitcoin Cash SV miners used their own genuine investment in mining hash to provide a dominant lead before the hard fork and a consistent level of support since then. Since ABC’s artificial early lead, the Bitcoin Cash SV chain has gained ground. On November 25, the BCHSV chain significantly led ABC as the longest chain, at times over 30 blocks ahead. Bitcoin Cash SV also reduced ABC’s lead in accumulated Proof of Work to a 26% margin (down from over 55% just a few days ago). Thus, the hash war was trending exactly as CoinGeek predicted, with SV’s sustained hash prepared to outlast and eventually overtake “rented” or subsidized hash for ABC.
Timothy Peterson, CFA at Cane Island Alternative Advisors, tweeted about Coinmetrics’ recent findings on Bitcoin SV (BSV) transactions, which show… read more
Load more articles
The information provided here does not constitute investment advice, financial advice, trading advice or any other sort of advice and you should not treat any of this content as such. None of the information should be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. We do not endorse or rate any initial coin offerings or cryptocurrencies listed or mentioned, nor do we encourage our readers to invest in anything. Investing in initial coin offerings or any cryptocurrency is considered a speculative and high-risk activity and we strongly encourage all investors to perform their own due diligence and consider their own circumstances before considering an investment.