Bitcoin Cash Hard Forks Again

By Abhimanyu Krishnan | News | 16 Nov 2020

On Nov. 15, the Bitcoin Cash (BCH) blockchain experienced another hard fork, splitting the chain into Bitcoin Cash ABC and Bitcoin Cash Node (BCHN), with a majority of miners taking to the new blockchain.

  • The Bitcoin Cash blockchain split at the block height 661,647; the first new block was mined by AntPool and a majority of miners have shifted towards BCHN
  • The BCH hash rate has dropped to just 0.068 Exahashes/second, down from 1.65 Eh/s before the chain split; BCHN, on the other hand, has a hash rate of 0.98 Eh/s
  • The hard fork is a result of a previously proposed protocol change that would have rerouted 8% of mined BCH towards protocol development; the BCHN miners opposed this “miner tax”
  • This is the third blockchain split that Bitcoin Cash has been a part of, with the last split occurring in Nov. 2018; the fork resulted in the Bitcoin Cash ABC and Bitcoin Cash Satoshi’s Vision, the latter led by Craig Wright and Calvin Ayre
  • Exchanges have announced that they will support the token, including Bitfinex and Coinbase; the latter has said that it expect BCHN to be the dominant chain going forward
  • The price of the BCH token has not been affected substantially by the fork so far, the token has dropped by 2.2% over the past 24 hours

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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