Our website needs some good Author. Who can write Cryptocurrency and Blockchain related article. If anyone is interested writing article in our website, please SignUp.

Bitcoin Cash: As Hard Forks, Unknown Mining Pool Continues Old Chain

November 16, 2019 at 4:14 PM | By Jit Sutradhar News

A rogue chain has been developed for a planned bitcoin fork hard cash, such as swimming pools unknown mining failed software update for the new chain.

Ongoing chain of combat, which must be settled by cash bitcoin’s internal rules, giving insiders look into how evidence-work mechanism (POW) consensus operate.

Hard fork occurred on Friday at 16:49:28 UTC in block number 609 135. Two additional blocks are split into two different chains that have been mined for a total of 4 new blocks, according to Research BitMEX Fork Monitor.

Old chains, ABC 0.19.0 Bitcoin mined by the pool are unknown, assume a new valid chain while new chain, ABC 0:20:06 Bitcoin mining pool mined by BTC.com, considers valid chain of old.

But underneath Nakamoto consensus mechanism employed by bitcoin cash and proof-of-work (POW) protocol, a chain with the longest history would be considered a trustworthy guide, canceling rogue chain.

Seeing the old chain continues to occur earlier because of some miners, who runs the software that created the block form a chain, sure to upgrade to the new software required for the hard before forking fork.

As BitMEX Research noted in a tweet, mining chains that one comes at a cost.

The opportunity cost of mining one chain that can reach up to 25 BCH, or about $ 6,600, if the pool were not known to have defeated the other miners in securing two blocks right, in addition to electricity costs associated with mining.

ASIC image via Shutterstock

This article is republished from coindesk.com. If you have any questions, objection or any other matter you can contact us. Thank you for visiting our website.

Comments (0)

    Write a Reply or Comment

    You must be Logged In or Sign Up to post a comment.