Bitcoin Miner exploit BCH and BSV by Chain-Hopping

The Bitcoin Cash Bitcoin Satoshi’s Vision of Halving is now since a few days behind us. Now we have a well-founded basis to analyze the impact of Halvings, the two crypto-currencies. First of all: it doesn’t look exactly rosy for BCH and BSV.

Hashrate drop in Bitcoin Cash and Bitcoin SV

It started a few days ago with the Bitcoin Cash Halving. More specifically, on 08. April Block of 630,000. About a month before the Bitcoin Halving. The next day, the Bitcoin SV Halving took place also in the case of Block of 630,000. The Hashrate, so the power that the miners make the network available, like in the case of two crypto-currencies is enormous – the Details of the same.This makes both networks more susceptible to attacks, but favored the so-called Chain-Hopping. But more on that later. Let’s look at the first development of the hash rate and compare it with the BTC.In Bitcoin, Cash and Bitcoin SV, the hash rate has fallen since the respective Halving to around 50%. Before the Halving both the crypto-currency had a total of approximately 8% of the total Hashrate. So 92% in BTC and 8% in BCH, and BSV. According to the has currently BCH approximately 2.7% and BSV to 0.5% of the total Hashrate. Thus, Bitcoin is currently at 96.7% of. The Hashrate of BCH and BSV varies extremely and ranges between 0.5% – 3%. This is mainly due to the Chain-Hopping.Due to the fluctuating Hashrate, it always comes back to the unstable block times. As a result, the blocks will not be found every 10 minutes, but in some cases a few hours, and then several in a row. This is not only for the users of bad, still need to wait for a transaction, but especially for the honest Miner of BCH and BSV.

Chain-Hopping in the case of BSV and BCH

Here is the so-called Chain-Hopping is used. As the Name says it all, jump from one Chain to another. There’s Bitcoin, Bitcoin, Cash, and Bitcoin SV SHA-256 (Secure Hash Algorithm) for mining use, can participate in the Miner at any time free to decide to which network you are with your Hardware.Due to the low Hashrate in both of these projects use some of the Miner, the difficulty of customization (Difficulty Adjustment), in order to secure the Block Rewards. In the case of Bitcoin, the difficulty is adjusted every 2016 blocks, and in the case of BCH after each Block. This phenomenon is not new and has already been held last year at BCH, again and again.Altcoins, Lending, Futures Trading: In case of Binance all in one place!The largest Bitcoin & Altcoin exchange that offers a comprehensive and secure offer, which is ideal for beginners. Sign up today and get 10% discount on all fees. Our Link to use and get started! Start now!

Difficulty Adjustment

Here, again roughly speaking, what is the difficulty of adaptation for a function in the network. The Difficulty, i.e. the difficulty to find a Block that adapts to the hash rate. In the end, it is important that the allotted 10 minutes per Block on average, be achieved . This prevents a sudden a big Miner joins in and within a few hours, thousands of blocks and all the Block Rewards collected.So, if a big Miner joins BSV or BCH, he is likely to find very quickly a Block, because the Difficulty has not yet adapted. He finds mint with a high Hashrate at a low difficulty until the next Block and power until the difficulty has been adjusted. As soon as that happens, the Miner on a different network (Chain Hopping). As a result, the honest miners are suddenly faced with a much too high a difficulty and need a lot longer to find the next Block.

Bitcoin Miner take advantage of BSV and BCH

After the Difficulty adjusts to the reduced Hashrate, the Miner back on and the game starts all over again. This behavior is currently on view at BCH and BSV to. You will recognize it very well to the fluctuating Hashrate. We also see that the Miner, which operates the Chain-Hopping, jumping only between BSV and BCH. This can be done very well on the following graphic to recognize.If the Miner is jumping in the meantime, the Bitcoin Chain is unclear, since the change in the Hashrate in BTC would be barely visible. However, it is assumed that it is a Bitcoin Miner.What can we say in conclusion about this? Bitcoin is Cash, and Bitcoin SV currently show both a lower security than it was before the Halving. The low Hashrate, it would go in theory, every large Bitcoin Miner a 51% allow attack on the two networks. In addition, the honest Miner is often empty because by the Chain-Hopping of the “evil” Miner of the Block Rewards is tearing under the nail. As a result, the honest Miner could shut down in the long term your operating costs and would have to or any of the other Chain switches.This could normalize after the Bitcoin Halving again. Because then is halved, there is the Block Reward. This might be worth Mining at BCH and BSV again. The strong Hashrate break-in and the Chain-Hopping had no major impact on the Bitcoin Cash Bitcoin SV rates. The courses are moved downwards but not as strong as the unstable Performance of the block chains of BCH and BSV suspect. Nevertheless, it is from the fundamental side not so good to BCH and BSV. We will continue to monitor the Situation for you and brought you here to keep you informed.The best and safest stock market choose for you to opt for the right provider is not always easy. Therefore, we recommend that you take a look at our Bitcoin brokers & exchanges to throw a comparison. Trading on the safest and best exchanges in the world! For ComparisonHow is, in your opinion, the Situation around Bitcoin, Cash and Bitcoin Satoshi’s Vision?Come on in to our Telegram Chat and talk with the experts and the Community!
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(Image source: Shutterstock)The versions in this article, no trade recommendations or investment advice.

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