Exchanges, Startups Pick Sides After the Bitcoin Cash ‘Hash War’
The so-called “hash war” over the future of bitcoin cash is over – and what remains appears to be a persisting rivalry between the forces behind what are now two distinct cryptocurrencies.
Created in November when the blockchain underwent a controversial system-wide upgrade (also called a hard fork), there remains a segment of the bitcoin cash community that follows a new software protocol called Bitcoin Satoshi’s Vision, or BSV.
With the remaining community following a competing implementation of bitcoin cash called Bitcoin Adjustable Blocksize Cap, or ABC, the expectation shortly after the split was that one blockchain would quickly overtake the other.
In part, these expectation were stoked by rumors of an impending “hash war” in which SV proponents would redirect computation energy also called hash power – normally used to mine blocks on a blockchain – to sabotage operations on the ABC chain.
But following the hard fork that led to a split the bitcoin cash blockchain, Craig Wright – the one-time Satoshi Nakamoto claimaint, chief scientist at nChain and one of the leading figureheads for BSV – denied plans of chain attacks, instead calling for a strategy called “persistence hunting.”
He told CoinDesk:
“This is long term. People have got to understand that we are not taking the quick easy path and if they don’t like it that’s too bad.”