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Wednesday, August 9, 2017

Fork Wars: Segwit Lock-In and Communication Breakdown

Fork Wars: Segwit Lock-In and Communication Breakdown

The hard fork happened, and the Bitcoin network split into two different blockchains that share a previous history. The Bitcoin Cash (BCH) network has survived an entire week, with five mining pools dedicating hashpower towards this alternative chain. Currently, the Bitcoin blockchain is still 899 blocks ahead of the new BCH chain, and it’s also 54 percent more profitable to mine BTC than BCH. However, this will change on August 8 as Bitcoin’s difficulty is going to increase approx. 7 percent while the BCH chain has been lowered to 17 percent of BTC’s current difficulty.


At the moment there have been 240 BCH blocks mined since the blockchain split and an ‘unknown miner’ has processed more than 83 percent of all the blocks in existence. So far there have been a total of 16 ‘big blocks’ (over 1MB) found on the BCH network with a few large ones being over 4MB. The other mining pools which are dedicating hashpower to the BCH chain include Suprnova, pool.Bitcoin.com, Viabtc, and the Bitclub. These four pools have only found 16 percent of the 240 BCH blocks mined. At press time the BCH chain is processing blocks consistently at a rate of 30-60 minutes per block with some longer intervals here and there.


Full story at http://bit.ly/2hJ0qwW


Source: Bitcoin News


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