A system-wide upgrade otherwise known as a hard fork appears to have split the bitcoin cash network in two. Similar to the bitcoin blockchain, bitcoin cash requires miners to validate transactions and append new blocks. The mempool consists of all pending transactions on the blockchain awaiting approval by a miner.
According to data from CoinDance and comments from observers, the bug resulted in a string of empty transaction blocks prior to the fix. Now the mempool is clear and transactions are going into blocks normally. All is back to normal. Yet it is unclear at this time how many nodes — that is, computer servers running Bitcoin ABC software — have upgraded to the fixed software.
In response to the issue, crypto exchange Poloniex announced that it was pausing withdrawals and deposits in light of the hard fork issue. BCH core developers are working on it. Thank you for your patience. Steinberg emphasized that having a diversity of software implementations could prevent similar glitches in code from tripping up the blockchain network.
Ideally, miners would have multiple types of node available to submit to in case something like this happens again. This is a developing story and will be updated. The excerpt of this story has been updated to clarify that the code bug was unrelated to the hard fork code itself.
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In this guide, we are going to make a sense of this madness. However, it is not enough to simply know what each of these forks are. We need to know why these forks came up in the first place. For that, we need to reacquaint ourselves with the scalability debate. Before we get into it, if you would like to learn more about bitcoin, take our course on it. What bitcoin provided was a peer-to-peer decentralized, digital currency system.
$FLDC $XCP $alts— ₿rat | Crypto Coinselor (@coinselor) October 13, 2019
Anyone said... hopium?
A perfectly round bottom in a token that operates on a delisted $xcp network that somehow didn't share the same faith. Trigger at a new 69-day high.
Proceed at your own risk. pic.twitter.com/S1UEBc5rQr