Bitcoin Cash ABC (BAB) Competes Closely Ahead of Bitcoin Cash SV (BSV) in PoW and Mined Blocks
The Bitcoin Cash (BCH) hash war saga continues during the weekend. Bitcoin Cash and its network experienced an upgrade during the last week. There were two competing proposals Bitcoin Cash ABC (BCHABC) and Bitcoin Cash SV (BCHSV). On November 15, a hard fork took place, but there is still no winner network operating in the market.
The team behind Bitcoin ABC, including Roger Ver, CEO of Bitcoin.com, and Jihan Wu, CEO of Bitmain, seem to be winning the mining race. Bitcoin SV is being supported by Calvin Ayre, Cobra and nChain’s Craig Wright.
Currently, Bitcoin ABC was 52.9% ahead of the Bitcoin SV proposal in terms of Proof of Work (PoW). Bitcoin ABC was able to mine 289 blocks, being ahead of Bitcoin SV’s proposal by 17 blocks.
Roger Ver commented about the hard fork:
“In my opinion, I really don’t know the real after effects of the fork. It can be both good and bad for the entire community. It’s just like the Y2K scare, you know. Everyone expected planes to fall out of the sky, but in the end, nothing much happened.”
Until now, there is no clear winner and the things could change at any moment. However, the community seems very divided between Bitcoin ABC and Bitcoin SV supporters. Since August 2017, the Bitcoin Cash community has been working together in order to fight against Bitcoin (BTC). This battle has now been suspended and the BCH community is now divided.
Since November 7, Bitcoin Cash lost 40% of its price moving from $630 to $380 dollars. At the time of writing, Bitcoin Cash has a market capitalization of $6.7 billion dollars and it remains the fourth largest crypto in the market. Each BCH coin can be purchased for $383 dollars according to CoinMarketCap.