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When will BCH fork (BCH BCHA)?

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When will BCH fork Editor\’s note: This article is from BlockBeats (ID: BlockBe

When will BCH fork (BCH BCHA)?

When will BCH fork Editor’s note: This article is from BlockBeats (ID: BlockBeats), authorized to be reposted by Odaily Star Daily.

Bitcoin Cash hard fork is the first upgrade version of Bitcoin Cash ABC, which will merge the original BSV blockchain with the new BCH chain and rename it “BCHN”. Before this fork, there have been two chains – Bitcoin SV, Bitcoin Core, and Bitcoin Unlimited (BTCS). These two projects have a common goal: to achieve the maximum benefit for the network. If the community is unwilling to reach a consensus, they will not support this upgrade. Therefore, we have decided to take some measures to ensure the security of the protocol and prevent future 51% attacks. When will BCH fork? The newly launched token after the fork is called Bitcoin ABC. The codes of these projects are the same, only the names are different, but there is no collaboration between different teams. So, from any perspective, everyone can participate in a development process.

When a miner wants to join a specific network, he can choose to use other software or services. For example, mine a cryptocurrency and send it to another miner, and this reward will be distributed to him (that is, as long as you have one bitcoin, you can mine another cryptocurrency) as a return, and you can also get a part of the reward. In this way, users only need to provide a wallet address to participate in various activities in the network. Once it is split, all funds will be exhausted.

So when will this happen now? What exactly is the disagreement? What will happen to the split Bitcoin? According to CoinMarketCap’s data, the highest market value Bitcoin Chain will release an update on November 17th. The time node for this fork is the end of December 2019 to the beginning of April 2018. At the end of 2020, this number is expected to reach about 1 billion US dollars, and may continue to grow until the end of 2020. But for most exchanges, this model is not very good because the transaction fees are high.

BCH BCHA

According to official news, the block size change protocol between BCH and BCHA (Bitcoin Cash ABC) was completed at 4 am Beijing time on August 25. On Bitcoin Cash Node, users can exchange any amount of tokens: BTC, ETH, USDC, and BNB, most of which are used as trading pairs; BCHSV is used as the native asset in the network; BSV is used as a digital cryptocurrency for storing or managing private data.

Currently, this reform mainly includes the following three aspects: 1. Switch the forked chain to a new mainnet. 2. Add new functions. 3. Improve consensus mechanism. 4. Introduce cross-chain communication.

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