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Bitcoin Cash Hard Forks Again

Bitcoin Cash Hard Forks Again

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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