It was to be expected the number of Bitcoin Cash nodes would undergo a chance. A recent proposal by the Bitcoin ABC team has created plenty of friction. As a result, the number of ABC nodes is on the decline.
Bitcoin Cash Woes Concern
Whether people want it or not, there will be a Bitcoin Cash hard fork in less than a month from today. As is often the case, there is some concern over a potential network split. In this particular case, those concerns seem more than warranted. There is genuine friction among supporters, miners, and the people effectively on the development front.
Whereas the Bitcoin ABC team is the primary “contributor” to BCH development, it is also the reason why this network split seems likely. Deducting the block rewards by 8% to fund future Bitcoin Cash development isn’t a valid approach. In fact, it is perhaps one of the worst proposals to be made.
There are people who openly question if this is a deliberate action. Splintering the network is detrimental to the future of Bitcoin Cash. At the same time, BCH is a fork of Bitcoin itself due to a disagreement. If this new split were to occur, it will only make things even more complicated.
Decreasing Bitcoin ABC Nodes
One thing is certain: the number of Bitcoin ABC nodes is on the decline. While the downtrend is still small, there is a visible trend for some time now. Depending on whom one asks, this trend is either likely to accelerate or will reverse course altogether. Either outcome would not necessarily be beneficial to Bitcoin Cash.
On the other hand, there is only 1 type of BCH node noting growth: BCHN. Every other implementation is going through a downtrend. That is quite interesting, yet it also shows interest in this fork may be waning a bit.
In the price department, BCH isn’t doing too well either. The past 90 days have yielded very little momentum to be excited about. Currently, BCH is 93.6% removethe number of Bitcoin ABC nodes is on the decline. While the downtrend is still small, there is a visible trendd from its all-time high of $3,785. A return to those levels is impossible, even under the best of circumstances. The all-time low of $76.93, on the other hand, is drawing closer every day.
The post Bitcoin Cash’s ABC Nodes Decrease Ahead of Upcoming Hard Fork appeared first on CryptoMode.