The Hard Fork: A New Chapter for Bitcoin Cash
On November 15, the much-anticipated hard fork of the Bitcoin Cash network officially took place, and what a rollercoaster it has been! The network saw its first block deemed invalid by older client versions, marking the completion of the hard fork as planned. This technical drama unfolded in a tweet by BitMEX Research that sent shockwaves (or maybe just gentle ripples) through the crypto community.
What Happened During the Fork?
According to Fork Monitor, the block at height 609,136 hit the scene and drew gasps from the Bitcoin ABC 0.19.0 users, who found it insufficient for their tastes. Meanwhile, those with the Bitcoin ABC 0.20.6 client effortlessly welcomed the block, confirming that the hard fork had gone off without a hitch—for some.
Miners were busy as bees during this event, with the BTC.com pool striking gold at 13:44 UTC. The mined block flaunted a snazzy 0.2MB size and packed in a hefty 651 transactions. What could possibly go wrong?
The Challenges Lurking Within
While the hard fork introduced straightforward consensus changes, the community was left scratching its collective head over some nagging issues. Namely, the Difficulty Adjustment Algorithm (DAA) was left untouched. The DAA is supposed to update the mining difficulty of BCH blocks based on a moving window of the last 144 blocks—a process that takes about 24 hours, give or take a few iced coffees.
Why the DAA Import Matters
In layperson’s terms, the DAA is critical for maintaining balance in the Bitcoin Cash ecosystem. But some miners suspected they found a loophole in this algorithm, leading to mysterious fluctuations in hash-rate and some not-so-subtle difficulties. This leaves many worried about an unfair playing field where some miners appear to be getting a potentially game-changing upper hand.
Future Implications: Still a Long Way to Go
The hard fork may have been a resounding success, if we measure success by sheer numbers, but the lingering concerns regarding the DAA suggest that the saga might not be over. The Bitcoin Cash community will need to be vigilant to ensure that things stay on track moving forward.
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