Against the background of the implemented update, the cryptocurrency rate went down.
On November 15 a hard fork took place in the network of one of the most capitalized cryptocurrencies – Bitcoin Cash. As a result of the event, the blockchain of the asset was split into two chains BCHN and BCHABC. Information about this appeared on the project’s Twiter.
— Bitcoin Cash (@bch_pls) November 15, 2020
According to the community, the client of the cryptocurrency – Bitcoin Cash ABC – has not enlisted the support of users.
After the hard fork, the BCHN chain, which was supported by the majority, came out ahead in terms of the number of mined blocks.
As a result, BCHABC hashrate indicators went down. BCHN hashrate, after a slight increase, also showed negative dynamics. Therefore, before the hard fork, Bitcoin’s indicator was 1.74 EH / s. At the press-time, BCHN and BCHABC hash rates are at 0.87 EH/s and 0.09 EH/s, respectively.
Bitcoin Cash developers wanted to solve the problem of a long delay in the formation of new blocks in the cryptocurrency network with the help of the hard fork announced in August 2020.