Altcoins

The Hashwar That Never Happened as BCH Gains Twice BSV’s Hash

from Trust Nodes 5 years ago 0 0 672

Bitcoin Cash’s chain-split fork, as we predicted, has been a very traditional event, with the two sides – at least so far – peacefully going their own way.

There have been no attacks at the protocol level of a 51% kind or any kind. There have in fact been no problems at all so far.

At about 6PM London time on November 15th an incompatible block was mined that simply led to two networks with their own rules, their own miners, their own nodes and their own price.

BSV is now far behind BCH’s main client, BitcoinABC, with BCH at one point gaining twice BSV’s hash. Currently BCH stands at about 7 exahashes at the time of writing while BSV is at circa 5 exahashes.

Meaning the show at the protocol level is probably over. It wouldn’t matter much now even if BSV catches up with BCH, just as it doesn’t matter very much that BTC has far more hash than BCH.

Nakamoto’s consensus is thus somewhat proven once again. Miners have no gain nor any interest in 51% attacking a coin of relevance. They would earn nothing from it, but would earn a lot if they played by the rules.

So far all miners have played by the rules with no misbehavior. Meaning that all this Proof of Work (PoW) thing obviously works.