$ 27,155
$ 1,841.9
$ 89.04

Bitcoin Cash Faction Prolongs November Feud

Rogue members of the Bitcoin Cash community have chosen to continue a campaign against Bitcoin Cash ABC, following the split between each blockchain in mid-November.

The group responsible for the attack is, which describes itself as a collective of “old-guard miners and whales” from the Bitcoin Cash community. takes issue with BCHABC’s decision to implement a miner tax that redistributes block rewards to a newly created development fund. Though November’s hard fork prevented Bitcoin Cash itself from taking on that feature, aims to prevent BCHABC from adopting the feature as well.

Earlier this week, carried out a 51% attack on BCHABC, gaining control of a majority of the blockchain’s hashrate. The group used that power to modify BCHABC’s consensus rules.

Those modified rules send 100% of BCHABC mining rewards to the coin’s development fund (rather than 8% as intended). The strategy is meant to prevent miners from receiving any rewards while the attack is underway, which could undermine the coin entirely. However, it is not clear whether the attack had the intended result.

The attack has been ongoing since Nov. 24, but the identity and motivation behind the attack were unclear until now.

Though the attack hasn’t fully undermined BCHABC, suggests that its actions will be feasible for years to come:
Vitalik Buterin of Ethereum noted that the attack is the first “spawn camp attack” on a cryptocurrency, referring to a video game tactic that describes players carrying out the same attack repeatedly.

The attack is presumably affordable because ABC has a low hash rate and very little market value. Bitcoin Cash is the 5th largest coin, boasting a market cap of $5 billion and a hashrate of 1.6 EH/s. BCHABC, meanwhile, is the 210th largest coin, with a market cap of $322 million and a hashrate of 0.4 EH/s.

Given Bitcoin Cash’s massive advantage, it is not yet clear whether BCHABC will be able to resist further attacks—even if those attacks are carried out by a small faction of the community.

Related Posts

Leave a Reply


Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

Renowned Nigerian Crypto Exchange Patricia Faces Major Security Breach, Temporarily Suspends Fund Withdrawals
May 28, 2023By
Worldcoin: OpenAI CEO’s Decentralized Project Raises $115 Million for Crypto Innovation
May 27, 2023By
Unbanked Fintech Firm Shuts Down Amidst Harsh Crypto Regulations in the United States
May 27, 2023By


Video Posts

Impact Of Technology On 4.0
July 6, 20210
Importance Of Cryptography
July 3, 20210

Crypto Stats

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin27,155 0.08 % 1.59 % 1.01 %
Ethereum1,841.9 0.18 % 0.65 % 1.67 %
Tether1.001 0.01 % 0.01 % 0.08 %
BNB307.54 0.08 % 0.72 % 0.60 %
USD Coin0.9998 0.02 % 0.05 % 0.00 %
XRP0.4731 0.09 % 0.02 % 1.49 %
Cardano0.3774 0.12 % 3.63 % 4.22 %
Lido Staked Ether1,840.8 0.13 % 0.70 % 1.64 %
Dogecoin0.07244 0.20 % 1.21 % 1.10 %
Polygon0.9219 0.33 % 0.08 % 5.56 %