The beginning of the BCH Hash wars with Bitcoin Cash Hard Forks

Bitcoin Cash brought in a hard fork just a little time ago. This fork split the fourth largest network of cryptocurrency into two versions competing with each other. The software clients are currently referring to the versions as Bitcoin ABC and Bitcoin SV.

A little after 18:00 UTC, the Bitcoin cash network saw an upgrade just when the BCHABC and BCHSV chains saw a block diversion at 556767. Bitcoin.com followed the BCHABC rules to mine the first two blocks. Herein both SV nodes marked invalid. BCHSV, on the other hand still needs to mine the first block the same as the time of writing.

There is an upgraded client activates the feature for BCHABC on the Bitcoin cash official roadmap. In the leadup to the hard fork, BCHABC maintained a noteworthy edge based on the metrics for economic and community support.

Nearly 75% of all the BCH node operators are executing ABC whereas just about 8% are executing SV.

Before the fork, futures markets had placed a huge premium of $320 while writing it as opposed to $80 for BCHSV. Most companies that support BCH have indicated that in the near future they would include BCHABC in the listings under “bitcoin cash” label and “BCH” ticker.

Craig S. Wright and Calvin Ayre are backing BCHSV primarily. Owing to this, BSHSV has accumulated a dominating hash rate thereby exercising control over nearly 3 quarters of all BCH mining power right sometime prior to the fork.

The statements of SV supporters have gone beyond just threats that have made an open declaration that they will attack BCHABC using their superior hash power and mine the empty blocks solely and hence reorganizing the blockchain over and over again till the economic majority agrees in favor of moving to SV.

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