HASH WAR!
Have you all been following the BitcoinCash hashwar? Which side are you on? SV? ABC?
Just a little over a year after their contentious split from Bitcoin, we have now seen a Bitcoin Cash civil war of its own flare up. The Bitcoin Cash chain is set to fork into separate chains on November 15th, but let’s just go over the main players for simplicity sake.
In one corner you have the face of Bitcoin Cash himself, representing Bitcoin Cash ABC (that’s adjustable blocksize cap)…..Roger Ver!
And his opponent, none other than Satoshi Nakamoto himself. Did I say Satoshi? I meant Faketoshi, Craig S. Wright. Along with Calvin Ayre, he’s been the leading supporter for team Bitcoin Cash SV, short for Satoshi’s vision.
And what is the root of the disagreement between the two bitcoin cash stalwarts? None other than the same type of disagreement that led to Bitcoin Cash’s creation, how to effectively scale on chain.
Bitcoin Cash and On-chain Scaling
Bitcoin Cash has long made their intentions known when it comes to scaling. Supporters believe scaling has to happen on-chain because of statements made by Satoshi, not to be confused with faketoshi, indicating that these were his “vision” for bitcoin.
And that’s how we got Bitcoin Cash in the first place. While Bitcoin Core looked to implement SegWit and solve scaling via off chain mechanisms, like the Lightning Network, Bitcoin Cash aimed to increase block capacities.
And while both Bitcoin Cash camps were on the same side for the last fork, the question of how to scale still lingered. Ver’s Bitcoin ABC looks to restructure how information is stored in each block, optimizing the total space available. Craig S Wright, who advocated for bigger blocks when forking for bitcoin, want’s to expand Bitcoin Cash’s block size.
The Results?
The fork occurred on November 15, and as of recording time, the hashing power leader looks to be Ver’s ABC. However, be weary of declaring Bitcoin Cash ABC the winner of the fork. Satoshi’s vision reportedly has a lot of the hashing power on ABC, and that party has threatened to mine empty blocks in order to stall ABC’s network.
So even though ABC looks to have more activity on its network, this fight is far from over.
