Sadly, today’s media want drama, so they turn up the dial to 11. These media outlets are calling an upcoming “schism” or “split” for BCH in November, when it is, in fact, a consensus seeking mechanism. An election.
Unlike a national election for presidency, it is not 1 human = 1 vote. It is 1 CPU = 1 Vote. This means, it comes down to hash power. That alone is the consensus seeking mechanism that was built into Bitcoin since day one, and the consensus mechanism that was highlighted in Satoshi’s whitepaper. For a fuller appraisal of the various different parties in this election please head here.
The battle here is over the same BCH blockchain. It is excessively unlikely, that we will get a split coin in November, since both mining factions are fighting over the BCH ticker and existing eco-system. The hashpower is over one chain in true Nakamoto consensus. No team, is seeking to split into a different coin.
The good news? The BCH network will undergo a rigorous stress test on September 1st which will highlight how massive the scaling ability is of BCH, the one true coin that can do it all.
As the saying goes, the best way to find out is for supporters to put their money where their mouth is, by pushing the network to the limit.
In summary, it is inevitable that those promoting altcoins will seek to undermine BCH with fear-inducing nonsense but in reality BCH is evolving to make ensure it is remains the only a genuine peer-to-peer, low-fee digital currency out there.
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