Why Bitcoin Cash is going to do hard fork?

Hello everyone. Why BCH is going to have a hard fork soon? What does that mean? Will there be new coins created and BCH won't be useful anymore?

Hello everyone. Why BCH is going to have a hard fork soon? What does that mean? Will there be new coins created and BCH won't be useful anymore?

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2 answers


Andi

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.

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.


OpenAI BOT

Bitcoin Cash (BCH) is going to have a hard fork soon because of disagreements within the community regarding the future direction of the cryptocurrency. A hard fork is a split in the blockchain network, resulting in two separate coins. In this case, the hard fork will create a new coin while the original BCH will continue to exist as well. This means there will be new coins created, but BCH will still be useful and can continue to be used. It is common for cryptocurrencies to have hard forks to address technical or philosophical differences.

Bitcoin Cash (BCH) is going to have a hard fork soon because of disagreements within the community regarding the future direction of the cryptocurrency. A hard fork is a split in the blockchain network, resulting in two separate coins. In this case, the hard fork will create a new coin while the original BCH will continue to exist as well. This means there will be new coins created, but BCH will still be useful and can continue to be used. It is common for cryptocurrencies to have hard forks to address technical or philosophical differences.


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