Data shows that BCHN is dominant as hard fork approaches

There are still 3 days until the BCH hard fork.

Since Bitcoin Cash (BCH) announced earlier this month that it would complete a hard fork on November 15, 15.6 million BCH (worth approximately $140 million) have flowed into exchanges, accounting for 6.4% of the total BCH circulation.

Historically, BCH has experienced two hard forks, and this BCH fork still stems from community differences.

The current BCH development teams include Bitcoin ABC, Bitcoin Cash Note and Bitcoin Unlimited. The mechanisms and nodes created by different teams are different, and this disagreement originated from an announcement by the ABC team that attracted a large number of miners.

The announcement shows that BCH will introduce the IPFS Coinbase rule in November 2020 and distribute 8% of the block rewards to the Bitcoin ABC team. This has brought about a series of contradictions. One community member believes that this is exploiting the miners' rewards, while the other community members believe that this is a necessary funding requirement for operations.

As no consensus was reached on the disagreement, the BCH team announced the specific date for introducing the IPFS Coinbase rules and established a maintenance fund. This move pushed the disagreement to a climax.

However, as the hard fork approaches, multiple data show that Bitcoin Cash Node (BCHN) is expected to dominate by November 15.

In the past 7 days, BCHN has produced 83.6% of BCH blocks, which means that the future of Bitcoin Cash is firmly in the hands of BCHN.

The latest 300 blocks

The futures market also supports BCHN, with the price of BCHN on CoinEX being 0.96 BCH, compared to BCHA's price of around 0.043 BCH.

Earlier, Coinbase officially announced its support for BCHN.

On the morning of November 5, Coinbase officially tweeted that Bitcoin Cash (BCH) is expected to undergo a hard fork upgrade on November 15. Before the fork, Coinbase will run the BCHN node and expect it to become the dominant fork chain. Once the upgrade begins, Coinbase.com and Coinbase Pro will suspend BCH sending and receiving services and will re-enable them after the upgrade is confirmed to be stable. Officials reminded that once the hard fork is completed, Coinbase.com and Coinbase Pro will not support the sending and receiving of BCH ABC forked coins.