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Why did the Bitcoin Cash fork come up again?

10 29 exc boost
Avatar for minimaus
Written by   211
1 week ago
Topics: Internet, Crypto, BCH

Why did the Bitcoin Cash fork come up again?

As we already know that Bitcoin Cash originated in August 2017, it originated as a fork of Bitcoin.

It happened that in November 2018, it forked on BCH ABC and BCH SV. Then BCH ABC became the dominant blockchain and its right to be called Bitcoin Cash.

Whether the size of the blocks on the blockchain should be increased, so that a smooth number of transactions could be executed in less than one second was a debate within the community whether to do a separation from Bitcoin.

I think this is a smart move.

There was another discussion about increasing the capacity of the blocks from 32MB to 128MB. In this second hard fork, Bitcoin SV (Satoshi Vision) was created. This year, after 2 years of the same date, another fork happened.

Bitcoin ABC developers claim that financing development in this way is good for the project because that way they are motivated to do their job as well as possible and to invest the maximum in the progress of Bitcoin Cash.

Improvements in Bitcoin Cash will result in an increase in its market value. This also means that miners would have better earnings and would not feel an initial reduction of 8%.

One of the arguments is that the community is certainly not only made up of miners, but also people who actually receive and send BCH. This part of the community would not bear any costs, and would benefit the most from the progress on Bitcoin Cash.

These developers also point out that it is impossible to expect that they will be able to work on improving Bitcoin Cash without the funds for that, and that it is logical that they will be compensated for their efforts to improve the network.

Roger Ver and Bitcoin Cash Node (BCHN) believe that BCHA only wants a miner's reward and will not contribute to the development of cryptocurrency. They point out that in this way, the miners who ensure the security of the BCH network are harmed.

They also state that Bitcoin Cash has been operating free of charge for developers for 11 years (8 years as Bitcoin, after the fork as Bitcoin Cash) and that it has been constantly improved during that period. There is no need to allow one group of developers to substantially change how BCH has worked over the years.

They ask the question to which developers exactly these funds will belong and on the basis of which they deserved them. They state that there are already enough cryptocurrencies with this type of fee and that developers who want it can work on one of those cryptocurrencies instead of imposing payment of fees.

A drop in mining profits could contribute to the departure of a large number of miners from the network. This would make Bitcoin Cash less safe to use and potentially more vulnerable to attacks.

Although most services accepted BCHN as the "winner" in this duel, BCHA still has a chance to be an independent coin like BSV. The BCHA must have at least 10% of the hash power that the BCH had before the fork to be able to list on larger crypto services. The current price of BCHA is around $ 10 per coin, which is about 94% less than the price of BCH or BCHN.

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Avatar for minimaus
Written by   211
1 week ago
Topics: Internet, Crypto, BCH
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Comments

I love all currencies, I collect them and I will earn something ha

$ 0.00
1 week ago

we are also slowly collecting bitcoin cash, so just let it grow

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1 week ago

I imagine I have 1 BTC.

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1 week ago

I don't understand much about virtual money, but I would like to have only one bitcoin 😁

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1 week ago

So what exactly happened? Did the fork have an impact of the price right now? Or it just did separate the bch community. How can we mass adopt when we do is fork?

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1 week ago

The blocks are strengthened and expanded, so that transactions are faster, so you do not pay a special transaction fee for bitcoin cash when you need to get it. But only when you send you pay a low fee.

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1 week ago

Ok. Thanks for the info

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1 week ago

no matter how much we “learn” about crypto we never know them enough. BCH is a great sequel to collect it

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1 week ago

yes yes he is good too.

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1 week ago

After the fork I separated my bcha and got my coins from him. I love BCH and will continue to collect it and get into it

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1 week ago