BCH SV Faces Threats of Delisting From Major Exchanges, After Suffering From Block Reorg
Bitcoin Cash “Satoshi’s Vision” otherwise called Bitcoin SV, created by CoinGeek and Craig Wright has suffered a block reorganization in which transactions on two different blocks were overwritten.
Peter Rizun, Bitcoin Unlimited chief scientist alleges that CoinGeek has done this reorganization on its own blocks. Also, Emin Gun Sirer, a professor at the prestigious Cornell University believes that in a decentralized blockchain protocol, a self-block reorganization should not be possible.
Dramas per second are increasing on BSV: they just experienced a multiblock reorg at block 557301.
These nincompoops cannot operate their own network without shooting themselves in the foot. So much for the “small world” of miners that a certain fraud likes to blague about. pic.twitter.com/RpOkGAIFa3
— Emin Gün Sirer (@el33th4xor) 19 November 2018
Emin Gun Sirer further explained the dangers of self-block recognition and how it is against the basic idea of Blockchain Decentralized technology.
“More The miner who overwrote block 557301 was the same miner who overwrote it in the first place. BSV have no idea what they are doing. You all knew this. Don’t invest with a conman. Not much else needs to be said on this front. This should not be possible in a decentralized system. You can only invalidate your own block and create a new tail if you’re the majority miner. BSV is a centralized coin.”
As a result of large transaction volume, the Bitcoin SV network temporarily suffered a mini-fork. To re-align Bitcoin Cash SV nodes and converge the forked blocks into one chain again, certain blocks were reorganized.
Block reorganizations – in short, “reorgs” – occur as a result of the consensus protocol called proof-of-work (PoW) overseeing how transactions get validated on platforms such as bitcoin and bitcoin cash.
As a consequence of the controversial decision to reorganize two blocks without solid reasoning to justify the action, Bitcoin Cash SV now faces delisting on several exchanges that fear network instability.
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