Altcoins

Bitcoin ABC 43 Blocks Ahead Following BCH Update, Hard Fork Fallout

Bitcoin ABC 43 Blocks Ahead Following BCH Update, Hard Fork Fallout

Those following Bitcoin Cash will be aware of the ongoing hard fork controversy surrounding the cryptocurrency. Yesterday saw the cryptocurrency undergo the hard fork in question, with the cryptocurrency splintering into different variations.

The Bitcoin Cash community has become divided between Bitcoin ABC and SV

It could be beneficial to preface with a brief history of the events as they have unfolded so far. The Bitcoin Cash camp has become bitterly divided over the future of Bitcoin Cash in anticipation of the hard fork.

Specifically, the two alternatives that have the majority of the Bitcoin Cash community diverging are ”Bitcoin ABC” and ”Bitcoin SV” respectively. Bitcoin ABC stands for ”Adjustable Blocksize Cap” and will enable node operators to change their block size limit.

Ledger Nano S - The secure hardware wallet

The main argument behind Bitcoin ABC is that the underlying structure of Bitcoin Cash is sound, and does not need any major changes. It is worth noting that Bitcoin ABC is backed by the cryptocurrency evangelist Roger Ver, who has long been a staunch Bitcoin Cash supporter.

Bitcoin SV on the other hand stands for ”Satoshi’s Vision” and Bitcoin SV aims to increase the Bitcoin Cash block size from 32MB to a maximum of 128MB. This would represent a significant departure from Bitcoin Cash’s current structure.

Moreover, Bitcoin SV is being promoted by Craig Wright, who has previously claimed to be Satoshi Nakamoto. Craig Wright and Roger Ver have earlier been united in their support of Bitcoin Cash, but the hard fork has seen the two former allies become embroiled in a deepening conflict.

Nevertheless, the hard split took place on November 15th as expected. At the moment of writing, Bitcoin ABC is currently 45 blocks ahead after 143 blocks have been mined.

Reports of spam attack and warning of CoinGeek attack

It should be noted, however, that there is still some uncertainty surrounding the long-term effects of the hard fork. Furthermore, the hard fork was followed by reports of a spam attack against Bitcoin ABC.

Supposedly, the blocks on the Bitcoin ABC chain started being filled with small transactions. This flood of minor transactions is speculated to be a part of a larger spam attack against the Bitcoin ABC network. However, the attack is currently said to be too small to adversely affect the network.

In addition to this, Bitcoin ABC supporter Amaury Séchet has recently warned of a possible CoinGeek attack. Nevertheless, Séchet also added that he thinks it is ”fine” if people want to fork, and wished them good luck.

Image Source: “Flickr”

Ledger Nano S - The secure hardware wallet