Bitcoin, Crypto currency, Blockchain

BitMEX launches the overview page for Forks

BitMEX, a crypto-Exchange for the exchange of crypto currencies, has launched a new BTC/BCH-Fork overview page. According to an official announcement is used by the Website https://forkmonitor.info/ to watch Hardforks and Softforks. To help identify the random consensus deficits that occur repeatedly and is used for the observation of the developments during the bitcoin cash Hard Forks.

The official Twitter Account of the BitMEX development teams was tweeted:

You write:

It makes us proud that we can today announce the Start of forkmonitor.info a new website from BitMEX Research. The page is associated with a different node, both Bitcoin as well as Bitcoin Cash. Their task is to monitor the network while hardware – or Softforks.

You write that the website was mainly developed on the basis of the forthcoming Hardforks of Bitcoin Cash. The Hardfork is expected to take place on 15. November 2018. The Website is Mainly used for Bitcoin Cash. You observed 8 Bitcoin Cash node, however, only 5 Bitcoin nodes. The reason for this is the expected Bitcoin Cash Hardfork, in which different problems on the node can occur which should be monitored by the website and shown is out of date.

According to bitcoin magazine, said the head of BitMEX Research, Jonathan beer, that

In September 2018 discovered Bitcoin inflation error was a large Problem. The error could lead to a long Rollback, which can be had for the industry and BitMEX very destructive.

After the Hardfork of Bitcoin Cash is now over, it is the goal of the Website, to place a greater focus on Bitcoin. The idea is to watch more versions of Bitcoin Core (especially older versions), as well as Autonomous implementations such as Bcoin, BTCD and Libbitcoin, and monitor.

Jonathan beer continued

The error introduced by the Bitcoin Core Version 0.14.0. Therefore, the nodes that are still running earlier versions of Bitcoin Core would have been able to detect the error. Therefore, the idea behind the Website is to connect with many nodes in all possible versions, so that you can monitor each other to detect errors that are present in older versions, but new have arisen. The Website is constantly evolving and will contain in the future more features.

The website will help in the search for consensus errors, such as the inflation bug CVE-2018-17144. The inflation error was found in the month of September, 2018. The Code of this Website will be Open Source so that other organizations will be able to knot with and to observe the block chains in a similar way.

The Bitcoin Cash Hardfork

Forks are Changes in the Protocol of the network or of the terms and conditions. Fork means with other words that crypto can be cleaved currencies such as Bitcoin, Ethereum, etc. This means that two variants of the tokens will be generated. This second variant can either replace the previous Coin completely or a new expression of the Coins, with a new name and a modified algorithm.

According to the official blog post of the Hardfork for Bitcoin Cash for the 15. November 2018 is expected. A dispute between the former supporters of Bitcoin experts and Bitcoin ABC went to the Hardfork. The following scenarios are currently:

Hardfork of Bitcoin ABC: versions of Bitcoin ABC prior to 0.18.0 be probably the Hardfork is not a part of it. It is not entirely clear how to do it with the older versions of the Bitcoin ABC. However, the possible consequence is, however, that no additional blocks for the first Chain can be more mined.

Hardfork of Bitcoin SV: It is assumed that Bitcoin SV at the same time with Bitcoin ABC a Hardfork is initiated, however, this is a Hardfork then incompatible with the Hardfork of the Bitcoin ABC.

The original Blockchain: There is a third group called Bitcoin Unlimited. The BUCash 1.5.0-Client this group was created to follow the Hardfork of the Bitcoin ABC. However, the first versions could have a negative impact on each other.

Crypto währungsf orcs are Changes to the current Code and the algorithm of the Blockchain transactions. Then a new block chain network. The new Fork may replace his ancestors, or, depending on the condition of the existing Blockchain, exist in parallel.

A Fork occurs when there is a significant disagreement in the consensus of the user or a request to change the underlying rules that monitor the Protocol. The Change in the log of a Blockchain requires major effort and time-quick Change of the code by the developer. This method can have serious and lasting consequences.

Therefore, BitMEX in a Tweet the question:

What is with the Bitcoin ABC, Bitcoin unlimited, and Bitcoin SV while the BCH-Hardfork on may 15. November happen

It also States that the Nodes of Craig Wright, Bitcoin, SV, and will split off to a new Chain from the network. Craig Steven Wright is an Australian computer scientist. He has been outed as the main part of the team that invented Bitcoin, and claims that he is the identity behind the Pseudonym Satoshi Nakamoto.

Don’t miss any important messages!
Follow us on Twitter, Instagram, Facebook, Steemit and the Telegram News channel or Newsletter .

You would this article like to comment on? Then come to our Telegram discussion group .

Do you have a passion for the topics of Bitcoin, Blockchain and crypto-currencies? You have Talent as a writer and desire to work in a Team with other crypto-enthusiastic people to work? Get in touch with us and become part of our team! Send us a short application to marcel@cryptoticker.io! We look forward to your applications.

Leave a Comment