Cryptocurrency Bitcoin Cash (BCH) was established in August of 2017 result in a hard fork of the network Bitcoin (BTC). According to the documentation of the project BCH, every 6 months the developers make upgrades to the system in order to improve the efficiency of the blockchain. But now the programmers can't come to a consensus about the upcoming update, which is scheduled for November 2018. This situation may lead to a split of the blockchain the Bitcoin cash and a new version of "actual Bitcoins". Coin holders BCH worried about the future of digital asset. What is waiting for Bitcoin cash? What we need to prepare? Edition Crypt-mining.net will provide answers to these questions.
What is offered to the employees of the Bitcoin ABC?
Employees of the company Bitcoin ABCthat has developed the software of Bitcoin Cash, proposed to make the following changes:
- New operating code called OP_CHECKDATASIG, allowing you to validate messages outside the blockchain, using data from the Oracles and krischanovich nuclear contracts.
- Canonical ordering of transactions in blocks, aimed at increasing the level of scalability of the blockchain.
With these enhancements will increase the scalability and flexibility of network Bitcoin cash. The developers of Bitcoin ABC also want to change the size of the blocks (32 MB). In support of the proposals made ABC one of the largest mining companies Bitmain, which controls a significant amount of computing power of the blockchain BCH.
NChain follows the idea of Satoshi Nakamoto.
width="790" height="510" />
The company nChain led by Craig Wright performed against the canonical ordering of transactions in blocks for two reasons: this technology hasn't been tested, and its implementation at the moment is not necessary. View nChain parts mining firm CoinGeek, which calls for the restoration of the blockchain the Bitcoin cash to version of the original Bitcoin and increase the block size to 128 MB.
Craig Wright led the team of experts developing client Bitcoin SV, which does not use the new transaction codes and a canonical ordering of the transactions. Staff CoinGeek plan to open new mining pool with support for the Bitcoin client SV, which, according to them, corresponds to the concept of the Creator of Bitcoin Satoshi Nakamoto. Bitcoin SV is first and foremost a payment Protocol aimed at solving one of the main tasks is to improve the efficiency of the cash of Bitcoin as an electronic payment means.
What will the split of the Bitcoin network cash?
Cryptocurrency Bitcoin cash is still relatively young, so a split of the blockchain will not go in her favor. For 2018, BCH lost more than all of the five top digital assets in terms of market capitalization: the price of coins dropped by 78%! The hard fork and the subsequent split of the network can lead to chaos and panic among the traders, as a result, investors will have to calculate the damages, first of all it will affect hontarov.
My opinion about the situation expressed the Creator of Ethereum, Vitalik Buterin: "BCH Community should not compromise with Craig Wright to avoid a split of the blockchain</strong>. On the contrary, this is a great opportunity to exclude him from the project Bitcoin cash. Craig can call his new Bitcoin cryptocurrency Craig and choose for her a Ticker BCC".
What do users Bitcoin cash?
If company ABC Bitcoin and nChain not reach consensus, it may start a real war. In this case we advise all the users of Bitcoin cash to take the following actions:
- Do not complete the transaction within a few days after the split of the blockchain, to avoid falling victim to 51% attack.
- Put the coins BCH in a secure cryptocurrency wallet (the best option - hardware Ledger Nano's or best wallet).
- If you are not able to purchase a hardware wallet, use one of the software wallets: Mycelium, Jaxx, Coinomi or Exodus.
- You will need the private keys from wallets to get the SV Bitcoin cointo be issued in the case of a split of the blockchain.
- If you are mining BCH, suggest to use the client Bitcoin Cobra with protection from re-executing the transaction (replay protection). Client Bitcoin Cobra is an alternative to Bitcoin and Bitcoin ABC SV, it will not be implemented the hard fork, so the Cobra will work stably with a probability of 99%.