Bitcoin Interest (BCI), which was forked from Bitcoin in the spring of 2018, is having another hard fork. This time, however, the asset will not split, or create a new coin. BCI, instead, will usher in a dramatic update - a change to its mining algorithm.
Bitcoin Interest split off from the Bitcoin blockchain on block 505,083, and the scheduled hard fork will happen when the Bitcoin Private chain reaches block 542,524.
https://twitter.com/btcinterest/status/1037726902637744130
Like many coins mined on Equihash, Bitcoin Interest saw the inflow of ASIC miners. This poses two problems - one is the displacement of GPU miners, who cannot compete with the higher difficulty. The other potential problem is the risk of a 51% attack, when a large number of ASIC machines manage to take over more than 51% of the network.
Bitcoin Interest will move away from Equihash and use the ProgPoW algorithm. Bitcoin Interest will be the...
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