Topic: Bitcoin Cash, what is at stake very soon... (Read 151 times)
Many people are saying bitcoin cash is supposed to be the bitcoin. People are investing on this project because they earn profit from this project and they believe proof of work.
Majority of the people are agree with this, BCh is the origin of the bitcoin. Satoshi nakamoto transfer it as a proof of work system. I always put into with proof of work. It’s a permanent innovation.
Bicoin Cash wont load POS (Proof of Stakes). Im sure about this. Ethereum still hard to do POS right now because network security
Most people seem to agree with this, BCH is supposed to be the original Bitcoin, and Satoshi Nakamoto created it as a Proof of Work system. And it works better, because you always reinvest with Proof of Work. Permanent innovation.
Bicoin Cash wont load POS (Proof of Stakes). Im sure about this. Ethereum still hard to do POS right now because network security
Hello folks,
As you know, on the 15th of November a fork on the Bitcoin Cash chain is planned, where the chain with the most work (PoW) will win the name BCH while the other will sink into oblivion.
This way of determining which chain wins the name of Bitcoin Cash highly rewards the winner and punishes the loser, and this was the way it was described in the original whitepaper.
Now why is it magic? Because it brings a huge stability to the network.
Indeed, there is the emperor of the network, the one who won the last battle of PoW, and citizens = the miners. Each citizen is free to challenge the emperor (if he wins, then he wins the name of BCH), but loses a lot of resources to attempt that (mine a chain that will be abandoned afterwards costs a lot of money) and each citizen is obliged to vote (because he must mine one of the two chains). It is then really difficult for a citizen to attack the emperor which brings a lot of stability to the network, and still gives it the possibility to improve periodically.
I reckon this is the first time we will see Nakamoto's consensus at work. It can be really amazing for Bitcoin Cash or totally destructive.
Your opinion on this historic event about to happen?
As you know, on the 15th of November a fork on the Bitcoin Cash chain is planned, where the chain with the most work (PoW) will win the name BCH while the other will sink into oblivion.
This way of determining which chain wins the name of Bitcoin Cash highly rewards the winner and punishes the loser, and this was the way it was described in the original whitepaper.
Now why is it magic? Because it brings a huge stability to the network.
Indeed, there is the emperor of the network, the one who won the last battle of PoW, and citizens = the miners. Each citizen is free to challenge the emperor (if he wins, then he wins the name of BCH), but loses a lot of resources to attempt that (mine a chain that will be abandoned afterwards costs a lot of money) and each citizen is obliged to vote (because he must mine one of the two chains). It is then really difficult for a citizen to attack the emperor which brings a lot of stability to the network, and still gives it the possibility to improve periodically.
I reckon this is the first time we will see Nakamoto's consensus at work. It can be really amazing for Bitcoin Cash or totally destructive.
Your opinion on this historic event about to happen?
Jump to: