The upcoming Bitcoin Cash (BCH) update will see a majority of the hashing power on the network pointed toward an alternative update, Satoshi’s Vision, or SV. The update has found the support of several major pools that have become a silent majority to support Dr. Craig Wright in his vision of the network’s development. The mining support and social media support for Dr. Wright are surprising, given the scandalous position his views have held in both the Bitcoin and Bitcoin Cash communities. In any case, no other large coin except for Bitcoin has seen a similar stand-off between opposing parties.
When it comes to pure proof-of-work coins, there is still no decision on what is the basis of consensus. At one point, the future of Bitcoin (BTC) was set by node operators who signaled their allegiance with the preferred version. Now, in the case of the contentious Bitcoin Cash update, the decision power lies with mining pools and raw hashing power.
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