Bitcoin SV (BSV) Ready to Implement Replay Protection as CoinGeek Says BCH Hash Wars are Done
Bitcoin SV will now work in order to implement replay protection on its chain. According to Calvin Ayre, Bitcoin SV will not participate in the hash war anymore against Bitcoin ABC. Now, nChain’s Craig Wright and Calvin Ayre will be working on Bitcoin SV’s development.
Since November 15, Bitcoin ABC and Bitcoin SV have been involved in a hash war to see which network was going to dominate the Bitcoin Cash network. Nevertheless, Bitcoin SV will now be permanently splitting from Bitcoin Cash.
On November 26, CoinGeek announced that the hash war ended with two new chains. Both proposals had several disagreements on how to keep scaling the network and how to improve it further.
Several virtual currency exchanges gave Bitcoin ABC the Bitcoin Cash ticker symbol (BCH) and receive wide support from different platforms and companies. The solution for Bitcoin SV was to continue the hash war unprofitable or just embrace a new chain.
On Twitter, Calvin Ayre said that only a scalable platform will succeed once the ‘carnage is over.’
to preserve value retreat to Bitcoin SV. Only a platform that scales will be around once the carnage is over…digital gold and ICO models are going to all die.https://t.co/0GKPoDLcn2
— Calvin Ayre (@CalvinAyre) November 26, 2018
In an article published in CoinGeek, he explained that the intention is to compete against Bitcoin Cash in the market rather than having chain battles that are very expensive in economic terms. At the same time, Bitcoin SV will be implementing replay protections that will protect the network against replay attacks. Without replay protection, attackers would not be able to copy transactions from one chain to another. However, there is no scheduled date for this implementation.
At the time of writing this article, Bitcoin SV is the 9th largest virtual currency in the market with a market cap of $1.72 billion dollars. Each BSV coin can be purchased for just under $100 dollars.
Instead, Bitcoin Cash remains as the fourth largest cryptocurrency with a market capitalization of $3.06 billion dollars and a price of $174.88 dollars.