Bitcoin Cash's difficulty looks volatile before the November 15 Hard Fork
A hard fork planned in Bitcoin Cash (BCH) will impose relatively simple technical changes to its consensus mechanism that will not divide the chain, despite some turbulent underground currents in the currency community regarding issues that have recently become difficult to ignore. Disloyalty and perhaps manipulation among the miners, or simply the possibility of such a fact has redirected the conversation before the deadline of November 15.
These issues have not been addressed the "hard
planned fork ”coming this November 15, a term that has been
politicized to represent community struggles and divisions in the chains –
But in this case, it is quite benign.
Minor updates are supported.
with all miners and should improve basic functionality for
users of the entire chain, something with which it is difficult to disagree. He
only echo of dissent is heard by those who believe that the
Recent anomalies indicate that BCH needs a more serious repair.
The problems in Bitcoin communities
(BTC) or Bitcoin Cash are still intertwined, years after their
separation. The similarity of the BCH and BTC Blockchains for mining and
ease with which miners change from one to another are two of the largest
problems that affect both chains in terms of offering the best
This issue is still present,
even when the BCH itself is ready for a new iteration called
Bitcoin ABC You could say that the community continues to neglect a Algorithm of
Difficulty Adjustment (DAA) potentially defective,
updated in a proposal widely criticized by influential people in
the world of BCH two years ago, which could be telling miners that the
control they have enjoyed so far is not yet to be limited.
story so far
Bitcoin Cash has had a long
history despite its relatively short life. On August 1, 2017,
separated from BTC through a fork, being one of the main
reasons a disagreement on how to adjust the difficulty of mining, how
scale better, and other fundamental ideas.
Both cryptocurrencies use the test
of work (PoW) to sign new blocks of
transactions, and to keep your networks working correctly, each
of them it has as objective a time of generation of blocks of only 10
minutes on average, or 144 blocks per day.
This is the reason why the last
DAA iteration adjusts the mining difficulty after each BCH block,
based on a mobile window of the last 144 blocks of BCH. Bitcoin, in
change, keep using the same algorithm that adjusts the difficulty every 2016
The purpose of the algorithm different from
BCH is that conditions remain stable and predictable despite a
unpredictable amount of hashing power available. However, only two
years is like a century for the Blockchain. The Bitcoin Cash algorithm could
have been idealistic in the way he assumed an equitable ecosystem and
fully decentralized in 2017, supported by individual users instead
from the big mining groups and the ASIC miners of today 11/15/2019.
Some curious trends in the
hashrate of the BCH and the long gaps between blocks seem to illustrate that
large miners have smelled blood in the water and now they may be playing with the
Imperfect algorithm method to periodically adjust its difficulty.
One explanation is that the big and
unknown mining pools that have concentrated the power of hashing can
supposedly involve the network at measured intervals to maintain the
difficulty of relatively static BCH, while displacing its
Weight to another place. The strategy involves a rapid production of 144 blocks,
followed by a rapid elimination of its collective capacity to undermine BTC, by
example, before the algorithm reacts and increases the difficulty.
These stealth miners can win
up to 8% more to take advantage of this theoretical technique, at the expense of the miners
"Honorable" who adhere to a network regardless of their
economic problems are irreproachable in cryptocurrencies
For now, this phenomenon is considered
as unconfirmed, and as some point out, discrepancies may be
simply an effect of the next Bitcoin Cash halving in the year 2020. A
collaborator noted that those who have hash power are more likely to
are diversifying at this time and that they direct their machines to BCH from BTC
in anticipation of the event.
Other questions have arisen about the
legitimacy behind fears about this type of manipulation. Wouldn't it look
so in some graphics any hash power migration from BTC to BCH,
regardless of whether your intentions were good or bad? Can they even
be considered "bad" intentions if economic incentives
personal are a deliberate variable in the operation of any
Any miner who uses an algorithm
Exchange between Blockchain networks that is more sophisticated than the algorithm
used to adjust the difficulty of an important blockchain as it turns out to be
BCH's should be praised, in the opinion of some. When they are removed
many different currencies using the same hardware, it is logical that the
miners extract the most profitable currency at any given time, since its costs
of electricity and hardware require that they be opportunistic whenever
Given the unpredictable fluctuations of
prices in the cryptocurrency market, there is no guarantee that these
miners are not going to lose in the long run, so who is really losing?
However, another potential problem is that many unknown addresses are
responsible for the recent trend, and some have warned that it may be the
result of a 51% attack.
However, halving is only one
explanation of why the incoming hashrate is natural and not malicious. The
miners intentionally use a different Coinbase text in the
transactions, inflating the relative amount of hashrate attributed to different
unknown entities, and have been reaching the BTC and BCH networks of
Predictable way since 2018.
The cybersecurity expert and founder
of the HyperSphere decentralized cloud solution, Evgen Verzun, is
agreed with this feeling and minimized fears of an attack. He wrote it down in
A conversation with Cointelegraph:
«The hash rates of the entire
system that suffer drastically from a coordinated attack are no longer considered
decentralized and, that implies that they have always been vulnerable to an attack
of 51%. These attacks target pools, computers or nodes, and their objective
is to create profitable network conditions, but no culprit in this case has
earned income ».
neglect a primary problem in BCH
The problem is not that the miners are
are behaving rationally when changing chains, that are planning some
type of attack, or that the algorithm is mistakenly taking into account
external factors – it could simply be that the two Blockchains have never
truly discouraged miners from exchanging with each other.
A software change that requires a
change in hardware (such as setting a specific miner for
BCH), can be a hard solution that would drown out the power of hash for BCH,
but it could also work better than trying to usurp the mining throne of
Coexistence is a burden for both
cryptocurrencies Therefore, although there is no relevant change scheduled
for the next ABC update, the two networks could – and maybe they should
– continue to exist in a kind of tandem. Verzun, however, told
Cointelegraph that the two cryptocurrencies are not in the same terms in this
relationship: »Compared to the stable but slow consensus model
used by Bitcoin, Bitcoin Cash security seems very doubtful in this
Verzun went on to say that due to the Blockchain rules, the network is controlled by the majority miners, but they cannot remain anonymous forever. Therefore, if the identity of the miner is really unknown, then it will no longer be possible to change the rules that regulate the mining difficulty or establish the time of block generation, since it would be difficult to start a conversation or reach a consensus. Verzun concluded: "In this case, BCH ABC should increase the hash rate of its miners so that the decision-making power returns to the network or to reach an agreement with the large mining companies."
Disclaimer: CriptomonedaseICO is not affiliated with any of the companies
mentioned in this article and is not responsible for their products and / or
services. This press release is for informational purposes only, the
Information does not constitute investment advice or an offer to invest.
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