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The Bitcoin Cash Network Upgrade

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Written by   277
11 months ago
Topics: Bitcoin Cash

Here is what you need to prepare.

The Bitcoin Cash Network is undergoing a network upgrade on 15 November 2020. Due to one of the seven Bitcoin Cash BCH full node software projects attempting to divert 8% of the coinbase reward into a wallet under the control of one Amaury Séchet, Lead Developer of Bitcoin ABC and owner of BitcoinCash.org, the situation is complex. It is recommended that miners, exchanges and others keep tabs on the situation.

Here's what you need to prepare.

New Feature: ASERT DAA

The Bitcoin Cash Network Upgrade of 15 November 2020 includes a new consensus rule change that is the ASERT Difficulty Adjustment Algorithm (DAA). This new DAA means more regular block times for Bitcoin Cash and eliminates "turbo blocks".

Currently, due to switch mining, Bitcoin Cash blocks are not always found steadily every 10 minutes. Instead, we sometimes see “turbo blocks”, i.e., several blocks found within less than 10 minutes, one or more of which are often empty. “Turbo blocks” create irregularity for the end user at the moment of being able to predict when a transaction will receive its first network confirmation, and as such are not desirable.

Learn more about the ASERT DAA, which is being added to Bitcoin Cash thanks to the work of developers Mark Lundeberg and Jonathan Toomim, as well as the collaborative approach of other developers and Bitcoin Cash full node software projects.

How to Prepare

Users

Users are advised to hold onto their keys at all times. Not your keys, not your coins.

Be sure to upgrade your wallet(s) to the latest versions. If in doubt, please ask your wallet provide if they have upgraded for the new Bitcoin Cash DAA.

Given the possibility of a minority fork of the Bitcoin ABC full node software, users are advised to stand by for instructions on how to fork any ABC coins that may come into existence. Don't count on exchanges to fork your coins as widespread exchange support for the potential ABC coin is not guaranteed.

Miners

The ASERT DAA is a hard fork consensus change. It is REQUIRED that you update your full node software in order to remain on the Bitcoin Cash chain on 15 November 2020.

Bitcoin Cash Node (BCHN) 22.x is tested, ready and recommended for use. Download it from the Bitcoin Cash Node Download page. A majority of Bitcoin Cash blocks are being produced with the BCHN full node software now.

Other compatible implementations include:

Wallets

SPV libraries will need to upgrade to remain compatible with the new ASERT DAA. See example implementations for Java and Python.

All wallet maintainers are encouraged to verify the compatibility of their software with the new ASERT DAA.

Other Apps

Any full node software in your stack will need to be upgraded. Bitcoin Cash Node (BCHN) 22.x is tested, ready and recommended for use. Download it from the Bitcoin Cash Node Download page.

Technical Support

Technical support is available for Bitcoin Cash users, developers and businesses. Here are some support options:

Network Split Outlook

At this time, only a minority fork, or split, seems indicated by the levels of support for Bitcoin ABC available to the public.

Therefore, if there is a fork, it currently appears that it will largely be inconsequential and will not affect your use of the Bitcoin Cash network in any significant manner.

Follow @BitcoinCashSite on Twitter for frequent updates on the situation.

Network Split Background

The potential network split was instigated by the Bitcoin ABC full node team's lead developer Amaury Séchet on 6 Aug 2020 when he announced that the Bitcoin ABC software would include a coinbase rule taking 8% of the coinbase reward from every Bitcoin Cash block and diverting it to an address under his control.

Almost all of the Bitcoin Cash ecosystem has declared their firm opposition to Amaury’s plans. This includes a very large percentage of the people building on Bitcoin Cash and as much as 82% of hashrate.

Miners (via coinbase signaling), holders (via votes.cash) and the marketplace (via primarily CoinEx futures) have expressed almost no support at all for the Bitcoin ABC proposal.

All stakeholders are expressing overwhelming support for Bitcoin Cash to continue the same protocol miners and exchanges have always known, and to remain a decentralized ecosystem.

Get a fuller background by reading the article, "Amaury Séchet is forking Bitcoin ABC from Bitcoin Cash".

To get updates on the split situation, you can use one of the following options:

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Avatar for BitcoinCashSite
Written by   277
11 months ago
Topics: Bitcoin Cash
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Comments

Wow so beautiful article

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11 months ago

Wow..so nice article.

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11 months ago

So informative and good. Well written

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11 months ago

Great job 👌

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11 months ago

Very helpful and informative, but we are using bch here in read.cash so what's going to happen if that take place.

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11 months ago

I have same question too but thank God we got an answer we will be safer

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11 months ago

Read.cash is sticking with Bitcoin Cash, and not with Bitcoin ABC, so you should be fine. I will be leaving funds here on read.cash during the network upgrade.

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11 months ago

We are wishing you all the best in this project keep it up. BCH to the moon

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11 months ago

It's great news for me, and I can't wait to be part of the Revolution.

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11 months ago

Is it safe to hold bch here in readcash on the day of the upgrade? I hope readcash will update us on what to do during that day.

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11 months ago

Probably it is safe. Read probably sticks with BCHN any updates necessary will run on background. (Just guessing)

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11 months ago

I hope they will give us tokens too 🤣

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11 months ago

Haha, not likely. 😅

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11 months ago

This is what am thinking too we hope it will not affect us that are using read cash

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11 months ago

I hope not.. I hope we can receive token during that day 😅

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11 months ago

Which kind of token arw talking about but we hope so

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11 months ago

Welcome developments we hope our bch are safe with us and we hope the team will work harder to overcome all the difficulties and challenges in the process. Best wishes

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11 months ago

Thanks, this was the clearest explanation I've read so far. I also appreciate you leading with the word 'upgrade' (positive, reassuring) in preference to the word 'fork' (slightly worrying)! I wonder if this development will impact the price of BCH in the short term - or whether it is being priced in right now? In which case, now is probably a good time to buy.

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11 months ago

It is an upgrade in fact, the soft fork is something that came with the upgrade from the part of ABC. Other nodes will upgrade as well, yet not to include the coinbase rule.

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11 months ago

That's a good news. I often heard BCH was hacked. So if they upgrade also bch system then it would be good relief

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11 months ago

The upgrade will really help us we hope so

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11 months ago

Yeah we hope so

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11 months ago

It is really good news for me.Thanks for this article.

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11 months ago

Ty so much for all informations.

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11 months ago

Great one

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11 months ago

If your nervous about your bch on here make sure you have your wallet recovery details up to date. That we you can always import your wallet if any thing happens.

Bch should not be effected much if at all. I seriously doubt it.

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11 months ago

That was currently

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11 months ago

Great information

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11 months ago

Good job

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11 months ago

I was about to ask these questions !! Just got an email from an exchange talking about BCH hardfork and how they're prepared. I was confused but now almost everything is clear. Thanks for the article

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11 months ago

Perfect, everything I was looking to know. Good job and thanks

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11 months ago

I wasn't even aware of most of this until today, let alone a private ownership? did i read that right? kinda not sure if i should pull my BCH or double down on it...

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11 months ago

Is it safe to hold bch during the upgrade

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11 months ago

Good information dear

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11 months ago

Amazing

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11 months ago

Is it also safe to swap your bch to stablecoins while having the upgrade then swap it back to bch after?

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11 months ago

As safe as the mechanism you use and whatever you use to hold the stablecoins but the fees are going to be high for that and I very much doubt that is necessary.

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11 months ago

Oh yeah I should've think bout the fees.. But the bch might not be safe during the upgrade

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11 months ago

I will be holding BCH during the upgrade. I am not concerned.

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11 months ago