Upcoming hardwork BCash untie the hash the war

With high probability BCash will face the hash war between supporters of the forks of the ABC and SV that can cause and even the split of the network.

Differences are in the two competing designs BCash: Bitcoin ABC, which intends to introduce many improvements, and Bitcoin SV, which focuses on a more structured approach and a significant increase in the size of the block.

SV is primarily supported nChain and CoinGeek, ABC has the support of Bitcoin.com, Coinbase, Binance and others.

Lead developer for OpenBazaar Chris Pacia (Chris Pacia) inclined to support users to fork ABC, adding that the network with the most number of users will be more valuable:

“Craig and his supporters coined the term “hash war” to the debate in their favor. In fact, the hash of the war does not exist. The hash will never be the determining factor that indicates how users appreciate the coin. War has always been for users. It becomes obvious that Craig loses it”.

However, from the point of view of the mining hash rate yet the result is not so straightforward, because the share CoinGeek and SVPool make up almost 30% the last 24-hour blocks.

Chief specialist nChain Craig Wright published against competing customer ABC series of tweets in which he predicted a complete failure:

“For the record. Many people like to see me as a Cassandra. Well, here’s another prediction: slow or fast, but we will win. I want people to understand what is Bitcoin. Even if I have over the year slowly pulling one Satoshi of value network ABC, we’ll do it. Without compromise.”

“If ABC remains at SHA256d and does not implement protection against replay, we use it. Until the network becomes weak, while at the global level, the coin will not stop minimise, as long as anywhere else will continue to work the last processor. If you think that I won’t get to the last developer with the processor to burn this last Bastion of hope, you just don’t know me! This is not revenge. It’s a lesson. And I’m going to burn it in the hearts and souls of all socialists of the ABC so that their grandchildren remembered! Have a nice day.”

The result of hard forks are still unclear, so not all of the parties involved assess threats to Wright as reasonable. Technical Director CoinText VIN Armani is convinced that the hash capacity CoinGeek and nChain is sufficient to cause significant damage. In his Twitter account, he called to prevent the hash war.

It is noteworthy that Armani drew attention to the potential threat posed by affiliated miners, who carried out the attack on the PoW network, causing a decrease in their market value.

The increased strife within the community suggests the need for improving management systems and consensus. For example, Dash had no such problems, as the network operates the voting system. Similar functions in other coins is able to resolve the differences to expand a hash of the war as the only possible option of resolving the dispute.

Hash war BCash demonstrates the fragility of the PoW algorithm. Recently launched mining pool has promised to intentionally create empty blocks of other cryptocurrencies to hurt the networks:

“The Shark Pool miners will mine only empty blocks, altcoins and thereby secure a profit of BCH.”

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Hong Kong residents plan to purchase cryptocurrencies in light of the upcoming economic crisis

According to a survey conducted by the Hong Kong blockchain Association (HKBA), almost half of respondents believe that Hong Kong’s economy, and world economy as a whole, next year will deteriorate.

Approximately 23% of the participants said they plan to invest in crypto-currencies for hedging currency risks during the potential financial crisis to deal with economic downturns.

HKBA pointed out that this poll reflects the desire of the average Hong Kong citizen to seek more diversified investment channels, to support the growth of their capital. Because of the escalating trade war between China and the United States, 46% of Hong Kong residents believe that the economic crisis will happen in the near future.

According to respondents, this situation has a negative impact on the stock markets of China and the United States. In these conditions, the HKBA said that the virtual currency can be a great investment tool for getting good profits.

Cryptocurrency market in recent years is growing rapidly, which is another positive factor influencing the opinion of investors. HKBA also noted that the younger generation relates to cryptocurrency are much more loyal.

According to Yahoo Finance, about 60% of respondents require a license and a clearer regulation of cryptocurrency trading platforms. Residents believe that Hong Kong should follow the example of the United States, Japan and Singapore to create a systematic fundamental regulatory framework for cryptocurrency regulation.

The Hong Kong government considers the development of Blockchain technology issue high priority, and the initial range of coins (ICO) — an effective model to raise funds. However, ICO or cryptocurrency trade is always associated with cyber crime. High investment income can instantly turn into catastrophic losses, and many investors aren’t ready.

Financial authorities emphasize that they will not interfere in the activities of the blockchain-companies and to the ICO while they are acting in accordance with laws and regulations.

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