Categories: Bitcoin CashNews

Craig Wright Says This is Just the Beginning of the Hash War Marathon

Craig Wright, the self-proclaimed “Satoshi” has yet again threatened the Bitcoin Cash ABC client. He says that this is just the beginning of the Hash war that could go on for months not concluded in one of two days.

The Bitcoin SV (Satoshi’s Vision) had the majority (over 70%) of the hashrate until the point of the network split after which the Bitcoin ABC client took the lead in terms of hashrate and is currently 30 Blocks ahead.

At this point in time, it is obvious that Bitcoin ABC is ahead in hashrate, node support, and community, Although Craig is of the opinion that this is all temporary caused by the borrowed Hashrate from Bitcoin (BTC).

Craig Wright Tweeted:

A majority of the hash power for Bitcoin ABC comes from Bitcoin.com which is backed by Roger Ver and supported by Bitmain’s Jihan Wu who had said that he will go to any extent to protect the Bitcoin Cash network.

According to CoinGeek’s article, a majority of this Hash power is “rented” subsidized by Roger’s Bitcoin.com and Jihan Wu who have moved customer hashrate from BTC to boost ABC. The article says this will not last long as it is not profitable, the miners will leave the network when not subsidized and it will be hard for Jihan to keep this up as he has shareholders to whom he is accountable.

Whereas CoinGeek and nChain are in full support of Bitcoin SV and have claimed not to back down at any cost.

Calvin Ayre, the owner of CoinGeek said:

“It is ridiculous to count transient, rented hash which comes onto BCH artificially for short bursts of time because it is subsidized to do so, but then disappears and does not really sustain Proof of Work on the network”

He also added:

“we were offered thousands and thousands of petahash to rent for this battle. While we can afford to pay for more rented hash than Bitmain can, we decided to set a better precedent for Bitcoin and fight with honest hash invested to support BCH long term.”

Bitcoin ABC ahead of Bitcoin SV

Bitcoin ABC is 30 Blocks ahead of Bitcoin SV at the time of writing. The two chains are functioning peacefully without any interference or 51% attacks so far.

Image Source: cash.coin.dance

Bitcoin SV barely has any nodes running whereas Bitcoin ABC has over 74% of the nodes supporting. We will see in action whether a fork can succeed with only miners and without the node support.

Image Source: cash.coin.dance

Also Read:


Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Did you like the news you just read? Please leave a feedback to help us serve you better

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Shrikar Parashar

Shrikar is a Blockchain evangelist. He is a die-hard fan of security tokens. He follows the market closely but does not trade. He believes in Hodling.

Share
Published by
Shrikar Parashar

Recent Posts

Bullish Signals for Sui Blockchain: Top SUI meme projects of 2024

Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…

4 weeks ago

AI Companions: A New Era of Digital Relationships and Virtual Experiences

As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…

2 months ago

zkCross Network: Simplifying DeFi Complexity and Achieving Fundraising Success

Did you know that 85% of DeFi value is concentrated in six blockchains?  DeFi is…

2 months ago

Don’t Miss Out: Get $CLP Tokens in the Exclusive RWA IDO Now!

CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…

2 months ago

Step into the Future of Web3 at Blockchain Futuristic Conference 2024, August 13-14

Join us at BFC 2024 to explore the future of Web3. Use a special discount…

3 months ago

WebX Asia 2024: Web3 Innovation Ignites in Tokyo

Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…

3 months ago