Bitcoin Cash will have a new Hard Fork on November 13

in #bitcoin7 years ago

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With Bitcoin Cash on the rise, details have already been prepared to repair the difficulty adjustment interrupted with a hard fork on next November 13. If the cryptocurrency is meant to be taken seriously, this is indispensable.

The Bitcoin Cash price jumped from $ 320 to more than $ 460, or from 0.054 to 0.071 BTC. The massive increase was orchestrated by the growing probability that the SegWit2x cradle failed and Bitcoin.com’s idea that Bitcoin Cash is the real Bitcoin. Although all this ignores that the algorithm of difficulty of Bitcoin Cash is terribly broken.

To understand why, we need to go back a little; Bitcoin adjusts the mining difficulty for each block sequence of 2016, which is approximately every two weeks, so that a new block is generated every ten minutes. However, if two currencies have the same mining algorithm, they compete for the same hash power. This has terrible implications for the weaker and, generally, cheaper currency; While the miners migrate to the most profitable currency, the difficulty remains the same for the 2016 blocks, and the network needs more and more time to add new blocks. The blockchain freezes and, as a final consequence, stops completely. That is what happens.

Read more at: http://www.crypto-economy.net/bitcoin-cash-will-have-a-new-hard-fork-on-november-13/?lang=en