Based on a recent report the highly anticipated Bitcoin Cash (BCH) hard fork stipulated to take place today, Nov 15 has reached completion and two different codes have been activated on the network. Based on the differences existing between the two factions of the BCH blockchain community, one of two possible outcomes was expected to be the result of this hard fork. However, that wasn’t the case, as the two competing implementations of the protocol was activated. As a result of this, we now have two hard forks of BCH—Bitcoin ABC and Bitcoin SV.
The Bitcoin Cash Hard Fork Feud
Based on a previous report, the feud between the two competing hard forks started when, Bitcoin ABC, the biggest Bitcoin Cash client, released version 0.18.0 of its full node Bitcoin Cash implementation. The release which occurred on August 20, was right after nChain, Craig Wright’s Blockchain development firm, announced the release of their own fork of BCH, Bitcoin SV— or Bitcoin Satoshi Vision (SV). The Bitcoin SV software was announced on August 16.
Based on a report, the Bitcoin ABC 0.18.0 included some features which are a direct contradiction of what the Bitcoin SV is all about. The features include, canonical transaction ordering and two new operation codes (opcodes). The Bitcoin SV version has also incorporated some of its own unique features such as an increased block size. The Bitcoin SV will increase block size from 32MB to 128MB and reinstate four “Satoshi opcodes”. This has been described by nChain as an effort to restore the original Bitcoin protocol.
With both competing hard forks version not ready to compromise and both backed by strong forces, an agreement to have two separate BCH Hard Forks was reached today Nov 15.
Since this is still fresh and with each of the two hard forks software having a strong following across the community, it is still not clear whether this arrangement is a long-term focused one or it’s a temporary solution to the rapidly escalating feud which has impacted the Bitcoin Cash community in a negative way.
It’s Not Over
Based on reports from events leading to the hard fork, one thing is quite clear, this is not over. With threats of network sabotage flying about, it is clear that both factions will continue to be at loggerhead. To further support this theory, a report has also surfaced. The report made it known that:
“Currently, thanks to Coingeek and some other mining allies – remember what we said about larger blocks benefitting bigger miners – Bitcoin SV seems to have possession of the majority of the Bitcoin Cash Hash Power (the raw processor power used to mine blocks). Should it use that power to mine empty blocks on the Bitcoin ABC chain rather than its own, it could essentially stop transactions and render its opponent useless via a 51%-style attack. Thus, all the support in the world will offer no real support under the growing weight of the invalid transactions.”
Right now the future of the Bitcoin Cash Network is hanging in the balance. Hopefully, those involved in the decision-making process will find a compromise before the entire industry loses interest in the coin.