The Bitcoin Cash network, which emerged as a result of the Bitcoin hard fork, again split into two new block chains.
The last “common block” among BCH miners was block 661647, mined by the Binance pool. The first block of the new chain was mined by AntPool. Since then, the hash power of the BCHN network significantly exceeds the BCH ABC hash.
Before the fork, 80% of miners signaled support for BCHN.
Bitcoin ABC development team led byAmaury Sechetom is pushing for a new "monetary base rule" that requires miners to donate 8% of their rewards to the Bitcoin ABC developer fund.
If BCH ABC does not attract enough hash power to create a viable blockchain, the ABC blockchain will theoretically “disappear”.
Most of the major cryptocurrency exchanges have stated that they will support BCHN and pass the "BCH" ticker to it, expecting it to become the dominant network.
Typically, hard forks lead to a steadyan increase in the price of cryptocurrency before the planned update. However, in the case of Bitcoin Cash, the uncertain future did not lead to a bullish momentum. In the days leading up to the fork, BCH / BTC traded at its lowest level since the initial hard fork on the Bitcoin network.
Subscribe to ForkNews on Telegram to stay up to date with the latest news from the world of cryptocurrencies
</p>Read this:
Another hard fork will take place in the Bitcoin Cash network
How to prepare and what to expect from the hard fork Bitcoin Cash?
Bitcoin Cash network update could trigger a hard fork
Miners return to mining Bitcoin Cash and Bitcoin SV
CEO of Bitcoin.com Stefan Rust called Bitcoin gold, Bitcoin Cash - money, and Bitcoin SV - scam
Bitcoin SV nodes accidentally connect to the Bitcoin Cash network