06.11.2020
0
Hello everyone. Why BCH is going to have a hard fork soon? What is that mean? Is this mean we will have new coins created and BCH won't be useful anymore?
06.11.2020
0
Hello everyone. Why BCH is going to have a hard fork soon? What is that mean? Is this mean we will have new coins created and BCH won't be useful anymore?
Andi
12.11.2020 14:56
Edited
0
ReplyWhy Bitcoin Cash is going to do hard fork ?
Andi
12.11.2020 14:56
Edited
Hey Emilly, I was able to find some information on this because I am also a small fan of this project. The Bitcoin Cash network is scheduled to be updated on November 15, 2020.The proposed update to the BCHN version, introduces a new search algorithm. The conflicts leading to a hard fork in the BCH are related to the ABC node of Amaury Séchet (the developer of BCH) and the differences in opinion between his team and the rest of the BCH community. However, the BCH community is unable to agree to the architectural changes in blockchain that align with this idea. Due to differences of opinion on how quickly (or whether) changes to the Bitcoin Cash code should be made, the team and community split into two groups led by Séchet and Roger Ver. To support technological advances such as Merklix based sharding, adaptive block size and Mitra. Séchet announced in August that the ABC implementation would use an algorithm called GRASBERG. The algorithm is identical to ASERT except that it would also repair the historical record. Séchet said that the November Bitcoin ABC software update will have a Coinbase rule that will fully align Bitcoin ABC rewards with network sustainability and security, and give the development team access to funding. Most exchanges such as Coinbase, Binance and Bitfinex already announced they plan to support the network upgrade - but if the blockchain breaks apart, they will remain in the chain with the most power. If you are holding bitcoin cash make sure that the wallet provider you are using supports the fork. If not send your funds to the exchange that supports these updates and you will be able to receive forked coins. Remember that many service providers may suspend the BCH transaction, deposits or withdrawals during the hard fork, so it is better to send the coins earlier.
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Hey Emilly, I was able to find some information on this because I am also a small fan of this project. The Bitcoin Cash network is scheduled to be updated on November 15, 2020.The proposed update to the BCHN version, introduces a new search algorithm. The conflicts leading to a hard fork in the BCH are related to the ABC node of Amaury Séchet (the developer of BCH) and the differences in opinion between his team and the rest of the BCH community. However, the BCH community is unable to agree to the architectural changes in blockchain that align with this idea. Due to differences of opinion on how quickly (or whether) changes to the Bitcoin Cash code should be made, the team and community split into two groups led by Séchet and Roger Ver. To support technological advances such as Merklix based sharding, adaptive block size and Mitra. Séchet announced in August that the ABC implementation would use an algorithm called GRASBERG. The algorithm is identical to ASERT except that it would also repair the historical record. Séchet said that the November Bitcoin ABC software update will have a Coinbase rule that will fully align Bitcoin ABC rewards with network sustainability and security, and give the development team access to funding. Most exchanges such as Coinbase, Binance and Bitfinex already announced they plan to support the network upgrade - but if the blockchain breaks apart, they will remain in the chain with the most power. If you are holding bitcoin cash make sure that the wallet provider you are using supports the fork. If not send your funds to the exchange that supports these updates and you will be able to receive forked coins. Remember that many service providers may suspend the BCH transaction, deposits or withdrawals during the hard fork, so it is better to send the coins earlier.
JacekSalach
06.11.2020 19:56