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A Week After the Bitcoin Cash Hard Fork, This is What happened in its Network

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On May 15, Bitcoin Cash had successfully made the fork of its network. Today, a week from the fork, users o are making transactions in blocks 4 times larger than those of the old network, which now reach 32 MB of storage. Also, it has been given the possibility of using Satoshi Nakamoto’s OP_Codes.

The fork was made in block 530356, and presented to users a new transformed network, which offers one of the biggest block increases in blockchain history and modifications that aim to provide greater functionality to the platform. However, it should be noted that this increase may be due to the centralization problems that Bitcoin Cash is presenting, and some have even taken it as a kind of advertising measure, because right now even Dogecoin has more transactions than this blockchain.

To enter into details, with this update it is possible to make a greater number of transactions with lower prices, as well as store a greater amount of data -features that have already taken effect in the Bitcoin Cash messaging network, Memo.cash, allowing to users to send longer messages.

Thus, the blockchain increased the space by default to carry data, rising from 80 bytes to 120 bytes, allowing the admission of OP_RETURN. This a script code that is used to mark the transactions as invalid, giving the ability to insert a large data record in the Bitcoin Cash network in an economical and effective way.

This specific feature is opposed to the current vision of the Bitcoin network, since the idea of ​​introducing arbitrary data into the blockchain was rejected in 2014 by the Bitcoin developers because it was considered “a bad idea” and “spam” for the net.

On the other hand, the OP_Codes tool is now active in the Bitcoin Cash network. This is a code that was introduced by Satoshi Nakamoto in Bitcoin when creating the network, which is able to color coins and make binary contracts.

In addition, Bitcoin Cash is preparing for its next hardforks, which study other new concepts to introduce to the network. For example, developers soon plan to implement a double-spending notification feature. Likewise, it is planned to introduce a new PoW system called Bobtail and the possibility of incorporating the Graphene protocol for greater scalability is being reviewed.

BETWEEN 15 AND 18% OF DISCONNECTED NODES

Not everything has gone smoothly in the Bitcoin Cash hardfork, since at the time of making the fork it is estimated that between 15 and 18% of the nodes have continued running in the old software, that is, operating in a separate network of the new Bitcoin Cash. In this sense, if a user executes a transaction in these nodes, it will not be recognized, since it is totally disconnected from the rest of the network.

This phenomenon seems to have occurred due to an update that generated incompatibility, say environmental sources. Also, Chris Parcia, developer of the OpenBazar platform and Bitcoin Cash enthusiast, said that surely these nodes had not been updated because they are inactive or never used.

Such a rarity was not overlooked by Bitcoin Core enthusiasts, among them Kallen Alm, a collaborator of the Bitcoin network, who asserts that if a group of users is totally disconnected from the updated network, it is “a very bad sign”. since the “nodes are everything”.

In bitcoin, the nodes are everything. They are the users of the system. Discarding the cut of the fifth part of the users in a fork, controversial or not, is imprudent, to say the least.

Kallen Alm
Contributor, Bitcoin Core

As if that were not enough, the Twitter user grubles tweeted that the rawpool mining group supposedly continues to undermine the old blockchain, rumors that spread across the network and generated controversy in the face of the possibility that this 18% of outdated nodes would end up becoming another Bitcoin Cash.

“Rawpool is free to extract in the old chain. By the way, the same could have happened with SegWit. Most likely, the economy forces them to agree with most of the miners and this will happen sooner rather than later, “replied a user identified as Gal Buki.

This same user added: “This is not something that only happens with hardforks. A miner who did not update to support SegWit would also have branched BTC in the same way that Rawpool did in this instance “; words that summarize the possibility that the percentage of non-updated nodes is in one way or another related to a mining group that did not follow the new Bitcoin Cash consensus or did not update at the time of the fork. A reality that would deny the assertion made by the Bitcoin Cash community, which assured that all the miners had accepted the consensus.

The bifurcation was announced last April. Now, the Bitcoin Cash blockchain  is preparing to offer more specialized functions, having already been adopted by the OpenBazaar platform, the signature of Portfolios Blockchain.info and the first US government office to accept cryptocurrencies as a method of payment, despite all the controversies in which it remains involved.

The post A Week After the Bitcoin Cash Hard Fork, This is What happened in its Network appeared first on Ripple XRP News Tech.



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