Blockchain Developers’ Brawl: Bitcoin Cash Hard Fork

CornerRight 2 min


Icons/Position/Pos. No. 1

Blockchain


Icons/Technology/Tech No.1

AI

Schisms in blockchains are quite a common thing – Bitcoin Cash itself was born in a similar way in the past, when it split out of the original Bitcoin. But in November 2018 we’re the witnesses of another hard fork born out of civil war within the community.

Check our post describing forks in software and blockchain development:
>> Blockchain Development: What Is Fork?

Satoshi’s Vision vs Adjustable Blocksize Cap

The schism is based in the forming of two blockchain development teams:

  • ABC (Adjustable Blocksize Cap): Roger Ver and Jihan Wu of Bitmain
  • SV (Satoshi’s Vision): Craig Wright and Calvin Ayre

Both are battling for control over the blockchain and for influence of the technical changes within Bitcoin Cash code. The dialogue within the community split and a campaign of disinformation and politics began trying to attract as much miners and hashing rate as possible.

Why? Because overwhelming power can swallow the second blockchain, and both parts are competing for this hostile takeover. This kind of fight results in huge costs for both sides.

Results for cryptocurrencies’ market

The troubled times affects prices: on 15 November 2018, ABC traded at about $289, while it’s competitor was $96.50, but they are not giving up, and a split that was initially thought of as a temporal state, may result in a permanent creation of two different cryptocurrencies. Some of the exchanges already accepted that, and trade both BCSV and BCABC tokens.

The fourth-largest cryptocurrency falls into two pieces, in a fight that doesn’t seem to end soon.

Looking for a skilled blockchain development team?

We can help you with your blockchain project, smart contract audit or ICO.

Similar blog posts

10 Common Software Architecture Patterns: Expert Guide

8 min

Did you know that before starting a software development project, an architect needs to pick the software architecture for it? This is a common best practice in the tech industry that allows teams to make the most out of the software and create a better experience for users.

Wed/Mar/2022
see details

12 Interesting Blogs on Blockchain & Cryptocurrencies

3 min

It’s not easy to find a reliable and friendly source of information on blockchain technology. To help you reach some of the best, we’ve aggregated the top blogs related to the topic, which can extend your view on blockchain & cryptocurrencies.

Thu/Jun/2018
see details

4 Most Popular 4soft Articles on ICO & Blockchain Development – L4A Blog

2 min

Since the beginning of the 4soft Blog, we created 4 core epic posts on 4 different aspects of Initial Coin Offering process, about 1500 words each. That’s the most popular quartet among our posts. Together those posts make a strong knowledge base for your future ICO project, covering the process, threats, outsourcing and app features.

Tue/Jul/2018
see details

4soft Use Cases: Blockchain In E-Commerce

4 min

E-Commerce thrives. Online sales steadily grow by about 20% every year. To sustain this growth, online shops leverage every possible technology that helps them to be more efficient and get ahead of the competition to sell more, faster and at better prices.

Tue/Feb/2020
see details