The Bitcoin Cash (BCH) scheduled upgrade turned contentious hard fork, warping into a first-ever Hash War, continues to reconfigure the niche industry. Applications and developers have taken sides, exchanges are awarding tickers, and the general mood appears to be one of fatigue. BitPay brought its BCH payment service back online, SV pool claims to have mined a 64 MB block, and Jiang Zhuoer, CEO of BTC.TOP, believes the battle may soon be nearing its end as hash is diverted.
Hash War Might be Subsiding, Clearing
“24 hours ago,” tweeted CEO of BTC.TOP Jiang Zhuoer, “CSW have move half of hash to mine BTC, and SV chain’s hash 1850P is less then ABC chain’s normal hash 2476P ( BTC hash 47610* BCH price 0.052=2476 P), it means that ABC side don’t need to burn money and “hash competition (hash war)” was end peacefully ：）.” It’s another provocative prediction from the feisty CEO, who has publicly backed ABC implementation.
There might be anecdotal evidence to that assertion, however, and more than just the accompanying chart below. SV pool advocate and CoinGeek owner, Calvin Ayers, appears to be moving forward with the chain split, working toward building out infrastructure for the new coin. “We decided,” the billionaire businessman tweeted yesterday, “that BSV stands for enterprise level scaling sound money for the world that can do everything with open source on chain tokens and smart contracts. Its also about Nakamoto Consensus and good Governance.”
He’s since made reference to the war not ending, announcing, “Nobody,” including his chief scientist, “has any interest in chains that do not scale. Accepting my offer would have Craig completely out of the ABC chain. If not, hash war continues until the cheating transient hash is gone.”
Ayre summarized his proposal, posting, “We will accept that all exchanges list ABC’s coin as BAB (Bitcoin ABC) and Bitcoin SV’s coin as BSV (Bitcoin SV). Note, we are on record as saying the Wormhole token protocol used on ABC’s chain is technically no longer Bitcoin, so ABC’s coin would be Bitcoin in name only. We also want all wallets, payment processors and other service providers to do the same, and we want the ABC faction to work with us to push this through. For this, both sides agree not to attack each other’s chain, and let the chains compete as separate offerings in the marketplace. Basically, both sides give up the claim for BCH and start even.”
BitPay Resumes BCH Payment Option
Whatever the actual case, the Hash War has been costly on all sides, as applications pull their support in favor of one implementation or the other. The BCH price, which most exchanges are assuming is the ABC implementation, has crashed to $246 per, after having briefly given up its coveted number 4 position to Stellar.
Ecosystem pundit Vin Armani marshaled further circumstantial evidence toward the Hash War’s end, suggesting, “This is probably the most important market signal outside of what @coinbase will do. Thank you @BitPay for helping to bring a close to the Hash War,” he noted. The popular payment platform informed users, “We have restarted our wallet servers to enable transactions. Our servers continue to use the Bitcoin ABC software. Caution: transactions may send coins on both the ABC and SV chains.”
In response, @btcfork attempted to suss out the implications, posting, “If someone attempts a ‘messy’ conflicting fork like the one we just saw, resulting in or provoking a hash war, then the losers are the customers whose forked coins will be sent in uncontrolled ways to recipients, who may then cash in on the drop. That’s of course apart from the businesses who have their operations impacted for days due to such actions. I’m still not quite sure why exchanges didn’t put their foot down this time, like they did for Bitcoin Cash, and didn’t demand ‘replay protection or BTFO.'”
Armani answered poignantly, “Take a look at the entire market. There were no winners. In war, there are no winners.”
64 MB Block Mined by SV Pool
In a recent press release, SV proponents claimed “Bitcoin SV, the new full node implementation for Bitcoin Cash (BCH) mined a 64MB block, the world’s largest ever on a public blockchain. The huge block was mined by CoinGeek Mining, during an on-going Professional Stress Test of the BCH network. Just one hour before, a 38MB block was mined, also using the Bitcoin SV implementation, by SVPool,” they explained. “That 38MB block held the record for largest block mined on a public blockchain until the 64 MB block.”
Reaction was decidedly cheerful among SV enthusiasts, who touted the accomplishments far and wide on crypto Twitter. Cornell University professor, Emin Gün Sirer, a severe critic of SV and its leadership, was typically nonplussed. “Anyone can mine any sized block. Takes no special skill or technology. Mining 2GB or 2TB blocks is not a problem,” he dismissed. “The problems lie with distributing these blocks to other miners. This is the part where BSV repeatedly fails. It’s also the bottleneck bloXroute addresses.”
A thread comment asked of Dr. Sirer’s appraisal, “Instead of other miners you actually mean non mining nodes. Right? Why is there no good SPV client after 10 years?” Sirer clarified, “I meant other miners. They need to get the blocks ASAP to get started on the next block. It’s acceptable if merchants and others who operate non-mining nodes see a time-lagged view.”
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