Announced yesterday, Bitcoin Cash Hard Fork has apparently gone off without major nuances, resulting in a smooth software update. Due to the general acceptance, it is now considered very unlikely that it can still be a split of the Blockchain in the course of this hard fork.
In contrast to the heavily announced November Hard Fork SegWit2x of the Bitcoin Blockchain, which was canceled prematurely in the last week after months of turmoil for fear of failure, the planned Hard Fork of Bitcoin Cash has apparently gone largely smoothly. As reported at the end of October, the developers had announced the date for the Hard Fork for mid-November. This deadline was successfully met.
So the new version was recorded on the Bitcoin Cash Blockchain last night. The blocks, which have since been smashed, have all been followed by the new software. This is what it looks like for the old Bitcoin cash Blockchain to be discontinued and thus a split in the currency, which – as almost always when it came to a hard fork – haunted in the minds of the network participants as fear prevented could.
The Hard Fork modifies the protocol to modify the Difficulty Adjustment Algorithm (DAA). This is to fix bugs in previous mining algorithms. The previous DAA had led to an extremely high fluctuation in the hash rates. The new software is now intended to set the Mining Difficulty so that it comes to a constant block interval of 10 minutes. The difficulty is now redefined for each block, based on the required mining time of the previous 144 blocks. Whether this will have the hoped-for effect on the miners remains to be seen now.
Meanwhile, the Bitcoin cash price has stabilized temporarily, leveling off around $ 20 billion in market capitalization and around $ 1,200 over the last two days.
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Categories: Crypto Currency