Hash Watch: Bitcoin Cash Services Reveal Contingency Plans for Upcoming Fork

The Bitcoin Cash blockchain is set to upgrade on Sunday, November 15 and it’s still expected that the network will bifurcate. So far, a number of crypto services have revealed contingency plans for the fork, and today’s data shows that 754 out of 1,000 bitcoin cash blocks were mined with the BCHN software.

In 11 days, the Bitcoin Cash upgrade is coming and the latest feature that will be added to the network is the ASERT Difficulty Adjustment Algorithm (DAA). However, the community is also preparing for a contentious fork, as one of the seven BCH full node projects has introduced the Infrastructure Funding Proposal (IFP) into the codebase. The IFP has been extremely controversial, as it has created a great divide between those who support it and those who do not. In September, news.Bitcoin.com reported on how most BCH market participants including businesses, executives, miners, and developers from six full node projects decided to bid Bitcoin ABC farewell.

As far as coin votes, hashpower, and futures markets are concerned, Bitcoin ABC is not faring well in comparison to BCHN. Block statistics from the web portal Coin Dance shows that 75.4% or 754 blocks out of 1,000 were mined using the BCHN software. 11 blocks out of the last 1,000 BCH blocks have signaled for ABC, which accounts for 1.09% of the thousand blocks mined. There is roughly 2 exahash per second (EH/s) of SHA256 hashrate pointed at the Bitcoin Cash network on Wednesday, November 4.

Hash Watch: Bitcoin Cash Services Reveal Contingency Plans for Upcoming Fork
Data from the web portal Coin Dance on Wednesday, November 4, 2020.

Bitcoin ABC futures show that the market is trading for much less than BCHN futures on Wednesday afternoon. Poloniex ABC futures paired tether (USDT) indicates the token is swapping for $20 per unit. ABC futures on Coinflex are priced similarly at $20.50 per ABC token. The ABC futures on Coinex are even lower, as the ABC token is swapping for $16.34 at the time of publication. If the prices end up being roughly the same…

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