Bitcoin Cash to undergo a hardfork

Bitcoin Cash fork: is the new Bitcoin ABC client to come to the market?
23 October 2017   2938

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.

Court to Dismiss BCH 'Hijack' Lawsuit

UnitedCorp claimed that it incurred significant losses due to the actions of the defendants, which are Kraken, Bitmain and Roger Ver
06 February 2020   285

The court dismissed the lawsuit of the mining company United American Corp. against the Kraken exchange, its founder Jesse Powell, Bitmain, its co-founder Jihan Wu and Roger Ver, who accused them of manipulating the Bitcoin Cash market and claimed $ 4 billion in compensation. As a reason for refusal, the court pointed to the lack of jurisdiction of the case and insufficient grounds.

UnitedCorp claimed that it incurred significant losses due to the actions of the defendants, who, after the emergence of Bitcoin SV in 2018, organized the so-called “hash war” and competed for 11 days to form the longest chain. The role of the Kraken exchange in these events was due to the fact that it was the first to decide to award a ticker for the BCH chain, also called Bitcoin ABC.

The simultaneous decrease in the price of Bitcoin Cash from $ 400 to $ 200 led to a significant drop in mining revenue of UnitedCorp. The firm claimed that the defendants violated the Sherman Act (the first US antitrust law proclaiming a crime to impede free trade by creating a trust and conspiring for such a purpose), Clayton's law, which also regulates the activities of trusts, demonstrated negligence, unintentional misrepresentation, improper enrichment and treatment property in their favor.

During hash wars, the amount of computing power in the Bitcoin Cash network reached 7.88 EH / s, whereas now it is 3.99 EH / s. Due to the actions of other miners, UnitedCorp could receive a significant part of the awards it had hoped for before, and the depreciation only worsened its position.

The court dismissed the claim without further restrictions. Thus, UnitedCorp is allowed to submit its revised version again until February 28th.