Bitcoin Cash Has Split Into Two Cryptocurrencies — Again
Bitcoin Cash (BCH) has split into two cryptocurrencies called Bitcoin Cash ABC (BCH ABC) and Bitcoin Cash Node (BCHN), CoinDesk reported Sunday.
What Happened: The split — called a hard fork in cryptocurrency parlance — implies the latest version of the underlying Blockchain protocol has gone through a radical change.
In the case of BCH, this change has led to the emergence of two new coins, with the last common block mined at #661647, according to CoinDesk.
The latest upgrade was reportedly proposed by a group of developers known as BCH ABC led by Amaury Sechet, who proposed a new “Coinbase Rule” that required 8% of the mined BCH to be redistributed to them.
The upgrade did not gain the approval of another group known as Bitcoin Cash Node, which removed the 8% levy from their source code leading to an effective split.