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New Bitcoin Cash hard fork expected on November 15th

The new hard fork by the Bitcoin Cash blockchain was announced for November 15th. The platforms are preparing for the new chain.

Bitcoin Cash - New Bitcoin Cash hard fork scheduled for November 15th

The next November 15 there will be a new hard fork by the blockchain di Bitcoin Cash. After the announcement all platforms and exchange have begun to prepare to support the new chain that will be created. To announce support for the new hard fork in addition to OKEX also Coinbase, which however has established that it will not support the Bitcoin Cash ABC. 

Coinbase has therefore decided to support the Bitcoin Cash Node, as they expect this to be the main chain. This is why during the hard fork of the blockchain, trading on Bitcoin Cash will be paused to resume it when the splitting is completed.

Hard Fork Bitcoin Cash: Node and ABC

On November 15, if everything goes as announced with this new hard fork, there will be the division into two parts of the blockchain between Bitcoin Cash ABC and the Bitcoin Cash Node. Bitcoin Cash has already been born from a previous hard fork, while in November 2018 it underwent a further fork with the birth of Bitcoin SV as well.

To become the new Bitcoin Cash will therefore be the Cash Node, given that current data shows that 754 blocks out of 1000 are mined on this type of chain. But why did they decide to make a new hard fork?

The purpose of a new hard fork by Bitcoin Cash takes place with the aim of triggering the update of the ASERT DAA (Difficulty Adjustment Algorithm), or a new algorithm that allows you to change the difficulty of mining in order to eliminate hashrate fluctuations and consequently maintain an interval of 10 minutes between each block.

These changes will be made by Bitcoin Cash Node, the real reason for the dispute between the two communities lies in the addition of the Infrastructure Funding Proposal, which wants to add one of the seven full nodes of Bitcoin Cash.

As explained by the developer: Bitcoin Cash Node will remove the activation and the IFP code so that the BCH may, as has been hinted by the latest Zhuoer update, have time to develop and subsequently implement voluntary methods. The bright side of this conflict it is also a renewed interest in responsibility, communication, transparency and the use of a technology based on Bitcoin Cash Node in order to obtain voluntary funding.

The Infrastructure Funding Proposal aims to allocate 12,5% ​​of Bitcoin Cash block rewards to a fund dedicated to its team for the acquisition of the software and development of the project. This is therefore the intent of Bitcoin Cash ABC, and the final reason for the hard fork. 

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Silvia Faenza

Graduated in Political Science and International Relations at the University of Salento, in the 2014. From 2015 he is in charge of content management for online companies and publishing agencies, mainly as a ghostwriter, copywriter and web editor.

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