Chain split with Bitcoin Cash – Air Drop included

Bitcoin Cash has forked – and again a new coin came out. Now two Bitcoin Cash networks are facing an unequal duel.

A chain split occurred on November 15th with the scheduled hard fork of Bitcoin Cash. During the upgrade, the algorithm for calculating the mining difficulty at Bitcoin Cash was adjusted. The BCH implementations Bitcoin ABC, Bitcoin Unlimited and Bitcoin Cash Node (BCHN) competed for the miners’ favor. The bone of contention: Bitcoin ABC announced in advance that it would introduce a kind of “tax” for Bitcoin Cash Miners at the hard fork.displayNo more compromises when trading securitiesHigh flexibility, despite the free offer – extra long trading hours from 7:30 a.m. to 11:00 p.m. justTRADE offers a large selection – more exchanges, more issuers and a free choice of access channel – via app or stationary in the web browser. And now NEW: Trading 5 crypto currencies – easy, fast, secure and simple.powered by finative

The “Infrastructure Funding Plan” (IFP) envisages that Bitcoin Cash miners will transfer part of their income to a fund that will finance the further development and maintenance of the BCH ecosystem. Specifically, BCH miners are supposed to transfer eight percent of the Coinbase Reward of 6.25 BCH to four wallets, which the IFP provides. The IFP met fierce opposition from within the Bitcoin Cash community.

Not only has Bitcoin Unlimited decided against the IFP. In response to the proposal, BCHN created a version of Bitcoin ABC that comes without the IFP.

Mining tax divides Bitcoin Cash

What had already become apparent in advance became reality on November 15th. After block number 661647 there was a chain split because the IFP-free variants of BCH are not compatible with the advance of Bitcoin ABC. The majority of miners decided against the IFP and switched to corresponding versions of BCHN and BU for the hard fork.

Bitcoin Cash now has two chains, with the IFP opponents having the longer one. That means: The official version of Bitcoin Cash gets by without a mining tax. Take a look at the fork monitor , for examplethe Bitmex crypto derivatives exchange. At the time of going to press, the IFP opponents have a lead of 96 blocks.

Bitcoin Cash Air Drop in Sight?

Accordingly, a large part of the hash rate is currently flowing into the BCHN network, according to data from Coin Dance:

Meanwhile, Bitcoin ABC does not give up and continues to adhere to the IFP. De facto this means that since the hard fork there have been two variants of BTC Cash: BCHA (with IFP) and BCHN (without IFP). Anyone who held BCH at the time of the fork has now in theory received the same amount of BCHA Coins.

To clarify: The Bitcoin Cash blockchain has split into two chains. As a result, there are now two separate coins (currently known as BCHA and BCHN), and people who owned Bitcoin Cash before the split now own both coins.

Bitcoin ABC via Twitter

Bitcoin Satoshi Vision (BSV) was created during the last Bitcoin Cash chain split .

Bitcoin ABC has announced that it will release a new name and ticker symbol for the new coin in the coming days.

Much now depends on how the major Bitcoin exchanges react. The crypto exchange Binance had already announced in advance of the fork that it would support a possible air drop should there be two competing chains or coins. Binance itself operates a mining pool for the BCHN network. However, BCHA will find it very difficult to get a listing on one of the large exchanges with its hash rate, which is still marginal to date. The block chain analysis site Block Chair already has its own block chain Explorer for BCHA created.

Source: btc-echo.de