nChain Releases a Public Notice About Next Bitcoin Cash Hard Fork and BitcoinSV Hash Wars

nChain released a new public notice in order to inform users and cryptocurrency exchanges how to handle the has war and BCH split on November 15. In the statement, the company informs how the Bitcoin Cash network will be performing an upgrade in less than 10 days.

Nevertheless, this upcoming upgrade has found different opinions about how to evolve the BCH network as a whole. nChain informs that they have developed Bitcoin SV, a new full node implementation for BCH that aims at supporting the original ‘Satoshi Vision’ of Bitcoin.

In the statement, the company is asking BCH miners to support the Bitcoin SV implementation by voting for it using their hash power.

As per the public notice, Bitcoin SV is not trying to create a new Bitcoin variant or a Bitcoin SV token. The main intention behind it is to offer miners the choice of implementing and support the original Satoshi Vision for Bitcoin. All the information about it can be found on the official website of Bitcoin SV.

About it, the company explained: “With Bitcoin SV, we are not seeking to create a new Bitcoin variant and we are not intending to create a new Bitcoin SV token. Instead, Bitcoin SV merely gives BCH miners another choice of implementation (competing with Bitcoin ABC and other existing BCH implementations) for miners who want to support the original Satoshi Vision for Bitcoin.”

In sum, there will be a network split on Bitcoin Cash that will result in Bitcoin SV and Bitcoin ABC. Bitcoin Unlimited will be compatible with Bitcoin SV and Bitcoin ABC rule sets. At the moment, 40% of the current BCH hash power is supporting Bitcoin SV. That means that Bitcoin SV has very strong chances of becoming the dominant implementation on the BCH blockchain.

It is important to mention that there is no transaction replay protection neither on Bitcoin ABC nor in Bitcoin SV.

nChain believes that exchanges and other companies working with Bitcoin Cash should recognize Bitcoin Cash as the longest chain with the most legitimate and sustained Proof of Work (PoW). According to Satoshi Nakamoto, this is how Bitcoin should work.

The company recommends crypto exchanges to install a Bitcoin SV node and be prepared in case SV becomes dominant. That would allow exchanges to offer Bitcoin Cash trading with minimal delay and disruption to users. Another recommendation given by nChain is to suspend deposits and withdrawals.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Kraken Exchange Onboards Swiss Bank InCore to Help Euro Clients Buy Crypto With Fiat

Swiss Bank InCore has just become the first banking institution in the nation to provide banking services to Kraken crypto exchange. The deal, which was...

Bank Of Japan (BoJ) Launches ‘Technical' Study to Experimenting CBDCs

The race to launch a sovereign digital currency is heating up as Japan became the latest country to venture into a central bank digital...

This Top Coin, Being the Worst Performer of 2020, Is A Disappointment to the Crypto Market

The fourth-largest cryptocurrency by market cap is currently trading at $0.176 in green by 1.66%, like the majority of the market. With 8.61% losses In...

Cryptocurrency Payment Processor BitPay Finally Announces Support for SegWit

Bitpay, the crypto payment processing giant, has finally integrated the segregated witness (SegWit) protocol, a second layer scalable solution to make bitcoin processing cheaper....

Crypto Hardware Wallet Ledger: ‘Funds are Safe' After ‘BigSpender' Vulnerability Found

A vulnerability was recently discovered by ZenGo in popular cryptocurrency wallets Ledger, Edge, and BRD. Named BigSpender, the vulnerability could lead to a double-spend...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today