CoinSpeaker
Bitcoin.com Mining Pool Provides All Hash Power to Secure the Bitcoin Cash ABC Network

The controversial Bitcoin Cash hard fork continues to keep the crypto industry in dilemma about the possible outcome. Soon after the Bitcoin Cash hard fork on Nov.15, the blockchain split to create two new cryptocurrencies. This includes the Bitcoin Cash ABC and Bitcoin Cash SV (Satoshi Version).

Both the camps have engaged in the war of gaining dominance over the hash power of the network. Moreover, the supporters of each camp are putting all might behind this post the BCH hard fork. The mining pools supporting Bitcoin ABC are BTC.com, Antpool, and Bitcoin.com. On the other hand, the mining pools supporting the Bitcoin SV version include Coingeek and Bitcoin.org.

The Bitcoin.com mining pool by Roger Ver is providing all of its hash power in support for mining Bitcoin Cash ABC. The mining poll of Bitcoin.com allows users to connect their own mining hardware. They also users to directly purchase the hashrate from the company while renting the miners. However, Bitcoin.com announced that if its users that if they don’t like Bitcoin ABC mining, they can chosse a different mining pool for the time being.

The Bitcoin.com mining pool provides an average of 400 petahashes of hash power for Bitcoin Core. Till now, it has minded a total of 1700 blocks for BTC core. Similarly, it has mined a total of 6000 blocks for  Bitcoin Cash. On the contrary, the Bitcoin Cash hash rate ranges significantly lower to Bitcoin core. It means that transferrring all the hash power will give a significant boost to the Bitcoin Cash ABC network.

The data provided by Coin.Dance shows that the mining pool Bitcoin.com provides an average of 5% of blocks for Bitcoin Cash. Furthermore, all the Bitcoin.com hash power for the day is likely to mine the Bitcoin Cash ABC. Hence, for now, Bitcoin.com can play a big role in securing the Bitcoin Cash ABC network.

The threat of “51% attacks” are constantly looming over the ABC network until the time that ABC network shares the same hashing algorithm with the Bitcoin SV network. Moreover, with SV having more hashpower, its supporters can pose security risks to the ABC network by mining empty blocks.

Another mining outfit BTC.top has pledged its support to the Bitcoin ABC. This puts some more pressure on the supporters of Bitcoin SV chain and its associated mining pools. BTC.top CEO Jiang Zhuoer announced his support for the ABC network to “end [the] chaos”.

According to the promise https://t.co/I22yeQaR90 and respect the result of hash war, https://t.co/kHtrRml22y have move hash to ABC chain to support BCH and end chaos pic.twitter.com/0Pzg9oYW92

— Jiang Zhuoer BTC.TOP (@JiangZhuoer) November 17, 2018

BTC.top contributes 6% of the Bitcoin mining on regular basis. The Coin.Dance data shows that its contribution so far has contributed around 5% of the all blocks mined.

Zhuoer explains his stand extensively on the ongoing Bitcoin Cash debate. His last week’s blog post reads:

“Therefore without an effective arbitration mechanism to prevent unnecessary splitting of the BCH chain, it will impede adoption, which implies a reduction of users. This conflicts with the ideology of high-frequency use for a cash system. […] [H]ash voting is not a segmentation based on power, but rather it assumes the role of a jury which reflects the opinion of all participants in the system. The community has the right to signal their preference using all sorts of methods to affect voting. […] Hash vote is not the same as miner vote, but rather acts like a jury to reflect opinions of everyone in the community.”

For Proof-of-Work (PoW) systems, usually, the longest chain wins. Bitcoin ABC is consistently leading Bitcoin SV in this game.

Bitcoin.com Mining Pool Provides All Hash Power to Secure the Bitcoin Cash ABC Network

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

186 +