The bitcoin cash community has been waiting for weeks for the November 15, 2020 upgrade and the day is finally here. The Bitcoin Cash network is upgraded every six months, but this time a dispute arose over Bitcoin ABC’s Infrastructure Funding Plan (IFP). During the day, the following editorial will monitor the bitcoin cash upgrade in real time to keep our readers up to date.
** Last Updated 10:44 AM EST **
Shortly after 12:00 pm, on November 15, 2020, UTC, Bitcoin Cash experienced a scheduled upgrade. Bitcoin cache developers from various full node projects changed the Difficulty Adjustment Algorithm (DAA) to a new DAA called ‘DARTI 3D’ (or ‘ASERT’ for short).
The Aserti3-2d Github description describes how people can get a “high-level description of motivation and background” for ASERT by reading the read.cash article by programmer Jonathan Toome. The specifications of ASERT can be read here on the Bitcoin Cash Upgrade Specifications web portal.
As always, Bitcoin Cash supporters saw real-time upgrades by taking advantage of web portal Coin Dance. The website has maintained a countdown clock for upgrades, information, and it displays three full node software clients in three different classes. Additionally, the fork monitor operated by the derivatives exchange Bitmex is also monitoring the fork.
The data shown on the coin dance includes Bitcoin Unlimited of full node clients, Bitcoin Cash Node (BCHN), and Bitcoin ABC. Coin Dance figures say that BCH Unlimited will follow the longest chain of 18.104.22.168. The Bitcoin Cash Node (BCHN) 22.1.0 will follow the longest chain, unless a 10-block re-org protection is violated. Bitcoin will follow a series complying with the ABC 0.22.4 Infrastructure Funding Plan (IFP).
Because bitcoin is stuck with implementing the ABC IFP, it is expected to produce two incompatible networks. Each full node client, except the IFP version of ABC, will agree on the same rules. Users of Bitcoin Cash (BCH) should see a smooth transition, but they may see an airdropped coin if miners decide to mine ABC software that introduces the controversial IFP mechanism.
The bitcoin cash (BCH) block 661,641 at about 6:55 am EST, the upgrade was initiated. After 661,641 blocks, the upgrade would require six more blocks to go live on the network. The last bitcoin cash common block was at an elevation of 661,647 and was mined by Binance.
The live stream crypto show hosted by Collin Enstad will be broadcast live on today, November 15 Mike comaransky And the show will air on YouTube throughout the day with many distinguished guests.
News.Bitcoin.com readers can see earlier articles on this subject here, here, here and on this article. Those editorials not only explain the situation at hand, but also exchange wallets and contingency plans. Many wallets and exchanges plan to support both tokens in the event of a split, while other third-party services have revealed to support only one party.
During the morning hours before fork activation, the crypto trading exchange Coinx changed the futures market from BCHN and BCHA to BCH and BCHA to represent the division. At the time of publication, the spot price for Bitcoin Cash (BCH) on Coinex is $ 243 per unit while ABC’s Airdrop Token is $ 15.82 per unit. ABC Airdrop on Polonics is swapping against USDT pairs for $ 14, and Coinflex ABC is trading for $ 11 per unit.
Software developer Krist Troutner Announced A website that hosts a splitting tool and an alpha web-based tool at splitbuch.com will be available after the upgrade is settled. Troutner also published a demo of the Splitbuch splitting tool on Youtube. However, right now at 10:37 pm EST, the ABC side of Fork has not seen a single mining block.
As of 10:28 pm EST, ten blocks have been mined under the new bitcoin cash consensus rules. Since the start of the fork after the last common block, zero bitcoin ABC blocks have been mined so far.
As of now, there does not seem to be a coin-split token for the ABC-IFP side, in which the chain is shown to have zero functionality. (10:37 AM EST). Twelve BCH blocks are currently mined under the new consensus rules. With no partitions, this means that BCH only advanced and one node fell by consensus. A valid block has to be mined for the ABC-IFP side to continue as a viable chain.
What do you think about the bitcoin cash upgrade and the completion of the partition? Let us know what you think on this topic in the comments section below.
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