BCH may be a story without an end, but it is filled with the bitterness of leeks

In the early morning of November 16, the entire currency circle watched the BCH computing power battle with the same enthusiasm as watching the World Cup. At present, both BCHABC and BCHSV have independently and stably produced blocks, and the BCH hard fork has actually been completed. (Students who don't remember the "hard fork" read Chief Science, Blockchain Chief ID: cmcmbc)

Now, whether it is investors holding BCH or the people watching melons, they are all concerned about the same question: who will win this war? What impact will this have on the future development of the public chain?

SV computing power has tied ABC

In the early morning of the 16th, after the hard fork of BCH, the first block was released by Jihan Wu’s camp Bitcoin.com. Since then, ABC’s block production speed has also been far ahead. Wu Jihan then said on social media: "Congratulations! After this new block, there will be no more troublemakers in the BCH community!" CSW said on its social media, "The game has begun."

SV has always been unwilling to make concessions. Supporters claim that ABC has used a large amount of rented computing power, which is unsustainable in the long run. CSW believes that the computing power war is a "marathon battle", and "sprinters" like ABC will quickly run out of energy.

As of press time, SV's computing power has tied with ABC.

Image via: Coin Dance

More exchanges that support ABC

Before the hard fork, all exchanges basically suspended the deposit and withdrawal of BCH. At present, exchanges are still in a wait-and-see state overall, but among several exchanges with a clear banner, most of them support ABC. With Huobi, a major exchange, announcing that it will stand with ABC, ABC's odds of winning seem to be higher.

Some exchanges, trying to remain neutral, have launched both BCHABC and BSV "futures," both of which can be traded but not withdrawn. It can also be seen from the futures price that ABC seems to be more popular. As of press time, the price of BCHABC is about 234 US dollars, while BCHSV is about 88 US dollars.

but win or lose

Of course, the competition between ABC and SV has essentially become a competition between two public chains, just like when BCH was forked from BTC, who will be accepted by everyone in the end, the two sides have to fight not only for computing power, but also for resources, Fighting for the market, fighting for influence, etc., this is not a war that can be won or lost overnight.

There is also a possibility that there are no absolute winners and losers in ABC and SV. From a technical point of view, the BCH community split due to different opinions on the development of the public chain. After the hard fork, the two parties explored along their respective technical paths, which is a good thing for the development of the public chain.

But we must also look at this matter from two sides. After the hard fork, ABC and SV have undoubtedly become the words of Wu Jihan and CSW. From the perspective of computing power, the trend of centralization of the two chains is becoming more and more obvious. BTC.com and AntPool under Jihan Wu controlled nearly 50% of the computing power on ABC, while Coingeek controlled by CSW also accounted for 59.03% of the computing power of SV’s entire network, and CSW is also related to several other mining pools Not shallow.

Chart from: Coin Dance

Contempt chain: boss-miner-leek

The only certainty is that the contempt chain of money and power will play a role again after the hard fork, and finally the losses caused by this money-burning war will be taken over by small miners and finally digested in the leek field waiting to be cut inside.

Since the current exchange generally does not support the withdrawal of ABC and SV, the miners on both sides are actually unable to make profits, and as long as they mine, they are bearing losses. According to BitMEX estimates, the daily loss of SV miners is about 280,000 US dollars in terms of currency prices, while ABC’s current mining difficulty is almost twice that of SV, so the loss is even greater, as high as 439,000 US dollars.

Of course, these things have nothing to do with leeks. In addition to the losses caused by currency price fluctuations, security issues have also brought troubles to users. According to the analysis of relevant security personnel, 1) Both chains of the ABC chain and SV chain have encountered a huge amount of dust attacks; 2) The number of replay transactions existing on the ABC chain SV at the same time has reached millions, which may include replay attacks . Some foreign users have revealed that during the transaction process, they suffered replay attack losses.

Big bosses fight, miners manipulate, leeks take over, this chain of contempt will continue to play its role.