The Battle Of BCH Blockchain Hash Power: ABC Chain Manages To Surge Ahead BSV By Design?
There was a major public sensation as eyes were fixed on the Bitcoin Cash network over the latter part of this week. This was because of the blockchain split which took place, breaking it into two after the last common block was discovered within the chain, spanning an overall height of 556766.
As of right now, both chains have continued to work at a stable pace, but as it continues to progress, the ABC Chain is still taking a commanding lead over its contemporary, SV Chain.
Just in case you're wondering…
The HASH WAR is still going on.
Most likely, it will go on for days… maybe even weeks.
— RELENTLESS (8k) (@mikerelentless) November 15, 2018
A Day To Remember For Bitcoin Cash
Within the stretch of 12 hours, an international community of cryptocurrency enthusiasts have been keeping an excited yet anxious eye on the Bitcoin Cash (BCH) network fork from Thursday 15th of November.
As many fans came to expect of it, the BCH chain subsequently split in two, with miners on both sides mining each of them at the moment. This split was formed and cemented when SV miners processed block 556767 at exactly 1.22pm Eastern Time on a completed different chain than the one which was mined successfully by Bitcoin.com at exactly 1.00pm Eastern.
Spectators have come to refer to this particular division and subsequent block mining race the ‘Hash War‘, as either side attempts to mine the most blocks.
There's been a great deal of debate between the respective sides as the fork debate continues to escalate and progress. Recently, a number of live streams were broadcast from the two camps across the same day.
As mentioned by a number of other news outlets, Jihan Wu remained relatively quiet across the early point of this week, but he has since re-emerged to hand a personal congratulations to Bitcoin.com for being the first to mine the first block with the ABC ruleset changes being made shortly before.
The CEO of Bitmain went on to tweet to his innumerable followers with the following statement:
“There will be no more negative gamma after this block in BCH community. Congratulations.”
Craig Wright, one of those profound figures that presents himself as one of the more vocal individuals on twitter remained relatively quiet and concise with his statements as the fork was taking place.
This changed when the block height reached 556781, which was when the SV Chain had managed to take a brief lead over its ABC rival.
During this time, Wright took the initiative and wrote the following:
“In all this, no user transactions are lost — And SV is ahead.”
Wright went on to appear on the podcast channel Hashwar.live on Keyport.tv with the BCH Boys, Daniel Krawisz, and Ari from Cashpay Solutions. One of the other preferred web desinations that onlookers went onto discuss the magnitude of the fork was on the Coinspice live stream channel, which saw its fair share of traffic from fascinated spectators.
This particular stream saw members of the community such as Bitcoin.com’s Roger Ver, Ethereum’s Vitalik Buterin who briefly visited, Andreas Brekken of Shitcoin.com, and many more special guests.
One of the spectators was Michael Matthews, one of the cryptocurrency thinkers of Twitter, who has been keeping a close watch on the fork and race between both ABC and SV. As of an update from under an hour ago, ABC is still in a firm lead by 32 blocks.
173 blocks have been mined under the new consensus rules.
Bitcoin ABC is currently 32 blocks ahead.
— RELENTLESS (8k) (@mikerelentless) November 16, 2018
As of Now, The ABC Side Is In A Commanding Position, With More Blocks, More Work, And Hashrate
Throughout the course of the day, there were a significant number of large blocks which have been mined on both chains. On the ABC Chain, Bitcoin.com, and BTC.com specifically processed some blocks between 4-8mb in overall size.
On the SV Chain, by comparison, Coingeek and a number of other pools managed to mine a few large blocks as well during the first few hours of the fork. Initially, BTC.com and Bitcoin.com pools found most of the ABC blocks between them, but later on, the Antpool of Bitmain began mining extensively on the ABC Chain.
Following on from this, the Chinese mining pool Viabtc then followed on with Antpool and began to chip away at the ABC Chain side. In comparison, Coingeek and SV pool began to mine the first SV Chain blocks. BMG Pool, however, did not jump in until much later, managing to only mine a couple of blocks in total compared to its counterparts.
As it stands so far, the ABC Side of the chain has more than a 32 block lead over the opposing SV side and a significantly higher hashrate when compared directly. This being according to a number of different sites and analysts that have been monitoring the divide since it began on Thursday.
Along with this, the SV side of the forked chain became a bit sluggish once it hit on block heights 556812 through to 556814 compared to ABC.
According to a number of statistics given earlier on this week, the overall summary of the hourly BCH Hashrates by each network demonstrates that the SV Chain's processing power has begun a steady tapering off of its potential from around 10pm Eastern Time.
At 12.45 am Eastern on November 16th, the ABC Chain has demonstrated an overall hashrate of around 8.9 exahash, while the hashrate for the Bitcoin SV Chain has only managed to muster a total of 3.5 as of earlier reports.
The Forkmonitor.info tool created by Bitmex also shows the ABC chain is well ahead of the SV chain by accumulated proof-of-work.
Of course, there will be a continuing level of discussion as this continues to move forward, especially regarding this fork over the next few days, and, as many in the mining and cryptocurrency worlds believe, for even longer than just that.
BCH community members will have to wait and see for right now as to how infrastructure providers plan to deal with this split long term. Alongside this developing issue, observers will also have to make an effort . to closely monitor both chains for future developments and keep a closer eye on the cryptocurrency market action.
What are your thoughts on the action as its taking place on the Bitcoin Cash chain as of November 15th? Who do you think will win out this Hash war between ABC and SV? Let us know!