BCH has been forked and I understand the choice of 24 exchanges in one article.
BCH has been forked and I understand the choice of 24 exchanges in one article.
On November 13 2017 BCH officially split from the BTC due to consensus differences and a hard fork upgrade occurred every six months after the plan.
On May 17 2018 BCH completed the first hard fork upgrade and upgraded the base block size from 8MB to 32MB. The new consensus rule came into force at block height 530356.
According to the Bitcoincash.org website the BCH network will perform a second hard fork protocol upgrade with the UNIX time stamp of 1542300000 (Beijing time November 16 2018 040). Unlike the first one there are two incompatible protocol versions for this protocol upgrade Bitcoin ABC 0.18.2 and Bitcion SV. The supporters of the two versions did not give in and all the big Vs screamed in the queue. The parties in the industry also paid close attention to it. At present the hard fork has ended and the BCH network has been officially split into two but the war is still not over. Is it to maintain the status quo or to launch a power attack again?
1
This battle of pre-heating for several months officially kicked off last night.
SV force or has started
At 2137 on the 15th the mine war may have begun. Coin Dance data shows that Coingeek supporting SV continuously digs out BCH blocks with block heights of 556746 to 556750.
Bifurcation is about to begin SV is dominant
At 035 on the 16th when there were 5 minutes left from the fork ABC's supporter bitcoin.com dug out a block with a height of 556758. However in the comparison of real-time computing power the SV camp still has a large advantage.
At 040 the BCH network upgrade was not completed and 6 BCH blocks need to be dug up. The BCH network upgrade can be launched. Therefore the official fork of BCH was postponed for more than an hour.
In the hard fork process as of 110 the first three blocks were continuously exploded in the Coingeek and SVPool pools supporting the SV camp.
ABC's computing power soared and began to lead
At 118 according to the real-time data of the calculation of the mining pool the BCH calculation power of the ABC camp Bitcoin.com mining pool has increased by 1593.09% in the past 24 hours which is 4081.03PH/S which exceeds the Coingeek mining pool of the Oban-Cong camp. One. The BTC calculation power of the Bitcoin.com pool has dropped 48.56% in the past 24 hours to become 235.96PH/S.
The Bitcoin.com mine pool dug out the fourth block at 121 due to a sudden increase in computing power. Afterwards the ABC camp continued to force the fifth block to be dug by the ViaBTC mine at 140.
At 150 CSW issued a blame for the ABC camp to switch the user power.
ABC cut back the calculation power the fork is completed
At 154 Bitcoin.com managed to cut back to BTC and the computing power dropped to 216.65 PH/s. Coingeek's computing power returned to the first.
At about 156 the last public block before the official fork was excavated by the SVPool supporting SV at which time the block height was 556766.
Since then BCH this round hard fork officially completed BCH ABC chain and BCH SV began to part ways.
At 25 Bitcom.com dug out the first block after the fork which used the new consensus mechanism of Bitcoin ABC and began to be incompatible with Bitcoin SV.
Afterwards Wu Jihan said "Congratulations! There will be no more troublemakers in the BCH community after this new block!" and CW said in his social media "The game has begun."
ABC and SV successively released blocks
At 224 the first block of the SV was dug up by Mempool with a block height of 556767. Since then both fork chains have completed independent block.
As of press time ABC's block rate is far ahead of SV and 42 blocks have been added.
2
For this fork the exchange has different attitudes. Zero Financial • Binary counts the attitudes of the top exchanges on the coinmarketcap for the fork and related announcements and divides the exchanges into four types.
Type A exchange
The Type A exchange clearly supports one of Bitcoin ABC or Bitcoin SV and has a clear stand. In the announcement in addition to the announcement of the time of suspension snapshot time risk warning and other factors they also have a clear statement on the support side. Among them the old exchange Bitstamp said in the announcement released yesterday that during the fork only Bitcoin ABC was supported but there was room for it indicating that it would observe the situation and make further decisions after the complete fork.
Type B exchange
Type B exchanges account for the majority they do not "stand in" and remain neutral. In the announcement the general expression of such exchanges is "If Bitcoin SV and Bitcoin ABC are successfully forked the two sides will operate independently and stably and the candy will be distributed to the user according to the snapshot data in a ratio of 11; After stabilization the BCH (ABC) or BCH (SV) is reopened. They both release the timeout and snapshot time to protect the user's financial security. However in the B-type exchange HitBTC did not take a snapshot. In the announcement on November 10th it was shown that the transaction could be started as soon as it was forked.
Type C exchange
The C-type exchange does not explicitly indicate which side of the BCH ABC or BCH SV will be supported in the announcement before and after the BCH fork and this type of transaction has a wait-and-see attitude during the entire fork process their announcement Often only snapshot time time to pause risk warnings and spectator positions that focus on developments are mentioned. Type C exchanges can announce the replenishment and trading of two currencies after the chain forks become stable so they naturally have a tendency to shift to other types of exchanges.
D-type exchange
The D-type exchanges often support the replenishment and trading of a certain currency (mostly ABC) in the announcements before and after the BCH fork but also support the two coins after the chain has become stable. The transaction (another currency will be issued in the form of candy or only a transaction pair). Therefore the D-type transaction does not go to extremes and demonstrates the flexibility of the strategy throughout the BCH fork.
3
What about investors in the face of four different types of exchanges?
The first thing to be clear is that under normal circumstances a hard fork will not affect the investor's BCH. Although the price may fluctuate greatly the BCH security stored in the wallet or exchange is adequately secured.
Secondly since the current BCH network is divided into two generating two chains and two coins the previously owned BCH will be “cloned” into two equal amounts of new coins and investors will have the opportunity to obtain “candy”.
In addition if the investor wants to conduct BCH transactions between different exchanges after the fork it is necessary to confirm the type of forked currency supported by each exchange otherwise the transaction will not be completed. It is worth noting that this bifurcation Bitcoin ABC and Bitcoin SV two chains have said before the war that they will not do "replay protection" and some exchanges will set their own "replay protection" investors can attention.
Finally although the fork has been completed it has not been successful. According to the previous fire currency global announcement the hard fork must have the following two conditions
Strict two-way replay attack protection;
Each of them operates independently and stably and each of them is independent and stable. In the current situation the fork event will not end there and the power battle will continue.
Therefore it is better for investors to conduct market operations after the fork has been completely successful or one of the chains has been attacked to zero. Of course if a chain is attacked to zero the so-called "candy" will of course go with the wind.