Bitcoin Cash to undergo a hardfork

Bitcoin Cash fork: is the new Bitcoin ABC client to come to the market?
23 October 2017   1755

As reported by numerous resources, the hard-forked version of Bitcoin, Bitcoin Cash, is to undergo a  hardfork in order to make a few performance adjustments to the protocol on November 13, 2017. 

Thus, Bitprim’s Juan Garavaglia claims that in preparation for the coming hardfork, he is running tests on different adjustment algorithms for mining difficulty.

The over hyped headlines have already caused a great feedback from the community and even panic, however, Garavaglia clarifies things. According to the man, unlike the previous Bitcoin hard fork that resulted in the creation of Bitcoin Cash, this one has support and is only meant to upgrade the protocol. The algorithm, Garavaglia argues, allows difficulty to adjust faster than every 2016 blocks if miners have issues finding blocks in a timely manner.

The original intention was to allow Bitcoin Cash to survive as a minority chain by avoiding a frozen chain situation where the blocks get too slow.
 

Juan Garavaglia
Bitcoin entrepreneur, Bitprim project

Now, due to the tendency to drop mining difficulty sharply, it's possible to bring a large influx of miners looking for profit, thereby increasing difficulty just as rapidly as it fell.

So we have this situation of extremes where blocks are being mined every minute, or every few hours.  This is not what users want.  Also, Bitcoin Cash is now thousands of blocks ahead of Bitcoin and it is screwing up the coin issuance schedule.
 

Juan Garavaglia
Bitcoin entrepreneur, Bitprim project

Garavaglia also highlights that the Bitcoin ABC developers are in contact with miners and exchanges to ensure a smooth fork. And no, Garavaglia assured, this fork has nothing to do with the upcoming SegWit2X fork.

UnitedCorp to File Lawsuit Due to "BCH Manipulations"

Suit is filed against Roger Ver, Kraken and Bitmain
07 December 2018   152

The technology company United American Corp (UnitedCorp) sued Bitmain, Kraken, Bitcoin.com, Roger Ver, and others involved in a “well-planned scheme to take control of the Bitcoin Cash network.” This is reported on the website of the corporation.

Representatives of UnitedCorp argue that the actions of the defendants caused the "global capitalization meltdown of the Bitcoin Cash." These actions, the company believes, were aimed at enriching the above market participants to the detriment of others.

The company’s website also contains a diagram of the actions of the above market participants:

Bitcoin Cash Manipulation Scheme by UnitedCorp
Bitcoin Cash Manipulation Scheme by UnitedCorp

The events described are related to the recent hardfork of Bitcoin Cash, as a result of which the network of this cryptocurrency split into two competing chains. After hardfork, according to UnitedCorp, the companies and individuals in the lawsuit took control of Bitcoin Cash.

We are bringing this suit on behalf of UnitedCorp because we believe strongly in the value and integrity of democratic, distributed and decentralized blockchain networks which will become more important with time. In order to maintain confidence in cryptocurrencies such as Bitcoin Cash, no person or entity can be allowed to control them.
 

Benoit Laliberte

President, UnitedCorp

At the same time, the company is convinced that these actions were aimed at centralizing the BCH network. Also, UnitedCorp claims that on November 20, the Bitcoin ABC development team introduced the “poison pill” into the blockchain. It was presented as “Deep Reorg Prevention”. These actions, confident in the company, were, in fact, aimed at strengthening control over the network and its future updates.

UnitedCorp requires a court order prohibiting defendants from engaging in future activities that harm the Bitcoin Cash network. In addition, the company intends to receive compensation for damages, the amount of which will be established in court.

It should be noted that Bitcoin SV, a cryptoactive asset that emerged as a result of hard forks, came in fifth in the CoinMarketCap market capitalization rating.

The rate of Bitcoin SV is growing despite the general decline in the market. Over the past 24 hours, the price of BSV has increased by 21%, and the asset capitalization has approached $ 2 billion.

At the same time, the main competitor of BSV - Bitcoin Cash - has fallen by 16.5% in the last 24 hours, having consolidated on the 7th line of the rating.