Bitcoin has suffered a massive fallout due to the hard fork that occurred on November 15 and so have many other cryptocurrencies. The fork split Bitcoin Cash into two entities, Bitcoin Cash ABC implementation, and the Bitcoin Cash SV implementation. The former implementation being led Jihan Wu and Roger Ver while the latter one led by Craig S. Wright and Ayre.
Roger Ver, in an interview with the CNBC, explained that the implementation with the longest chain of proof-of-work would be given the original BCH ticker. He opined that the hash war was done as far as he was concerned and he added:
“Right from the opening bell, the Bitcoin ABC implementation of Bitcoin cash had substantially more hash rate than the Bitcoin SV implementation of Bitcoin cash, and already way more proof of work has been done on top of the Bitcoin ABC version of Bitcoin cash than the Bitcoin SV version.”
Roger Ver bragged about having more hash power than the SV version and also added that all of their services were fully functional right from the start. He said that everything went according to their plans except for the prices of all cryptocurrencies going wild, which he compared to the Y2K incident.
To put things into perspective, Ver went into details about the amount of hash power they had under their hoods, he said:
“The instant the fork started we made sure we had plenty of hash rate that we popped right on over from the BTC Network, so I think we found like the first five blocks after the upgrade. We had more than 4,000 meta hashes on our pool to help out with that, and the amount of electricity required for that is more than the average power output of the Hoover Dam.”
Refuting speculations about the hash wars turning Bitcoin Cash’s mining to become centralized, Ver said:
“There were dozens if not hundreds of people involved in shifting this hash rate around, so there were all these people working together, people literally all across the entire planet came together to protect Bitcoin cash and make sure it continues being a peer-to-peer electronic cash for the world.”
As per the data from Coin Dance, 1066 blocks have been mined under the consensus rules and Bitcoin Cash is 34.2% ahead in terms of proof-of-work and 2 blocks ahead in terms of blocks mined.
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