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