Bitcoin Cash, which is a part of Bitcoin Network, once again gets divided into two different blockchains. Due to non-accumulation of hashpower by Bitcoin Cash ABC (BCH ABC), Bitcoin Cash Node (BCHN) becomes the focal software for the Bitcoin Cash.
As per latest data published on Coin.Dance, it suggested that Bitcoin Cash network had been split into two further blockchains. Resultantly, BCHN emerges as the main software for Bitcoin Cash which was otherwise BCH ABC.
The data further suggested that the last known “common block” got mined in BCH was through the miners of Binance. However, the particular block which resulted in the split of blockchains was reportedly mined by AntPool. Since then there hadn’t been any hashpower poured into BCH ABC instead BCHN had been acquiring all alone for itself. After AntPool, large number of blocks within the BCH had been mined in the same network i.e. BCHN.
Notably, before the fork had occurred at least 80 percent of the miners had diverted their support in BCHN.
The story goes back when an update was proposed by Amaury Sechet in the Bitcoin Cash network. Sechet had been leading the group of developers within Bitcoin Cash Network which is today called BCH ABC. In this proposed upgrade, Sechet and his team had devised a new rule called “Coinbase Rule”. New rule required 8% of mined proceeds earned from Bitcoin Cash to be used for funding proposed update in BCH ABC.
However, the said update was condemned by another Bitcoin Cash blockchain group called BCHN. The group within BCHN then went on to eradicate this rule from the source code by labelling it as “miner tax”. This usually leads to splitting of a software into two because it directly affects the hard forks available in the network. Meaning thereby that some hard fork nodes are processed through old software and some with the new one.
Earlier when the hard fork had not occurred, Bitcoin Cash value was climbing. However, when the hard fork took place, it subsequently send it low to US$ 237.54. This low was duly recorded by CoinDesk 20 which told that the low was of about 7.5 percent.
In case BCH ABC fails to acquire any hashpower, then it will be the end of BCH ABC.