Wednesday, March 29, 2023

Fake decentralization of Bitcoin Cash


The Bitcoin Cash network continues to be heavily criticized, as the “stress test” of the bitPico coders group revealed “fake decentralization”.

The data collected from the Bitokin (BTC) and Bitcoin Cash (BCH) GitHub repositories in recent weeks have led to a series of sharp contrasts in network performance by users of the series.

Uploaded on Twitter on July 15, Bitcoin’s statistics show the active contributions of developers, which can not be said about the calm on the chart of BCash.

As another Twitter user noted, in blocks BCash there is a very low volume of transactions: at the weekend, one of the blocks contained only 5 kilobytes of data. Ironically, Bitcoin switched to 2 MB blocks earlier than the coin that advertised the increase in block size as something necessary for Bitcoin’s survival.

The precarious situation of Bitcoin Cash continues to cause controversy, as bitPico, an anonymous group of Bitcoin developers and users, is moving ahead in its coordinated attack in order to test the sustainability of the BCH network. Developed in recent months, the initiative started after a similar test for the implementation of Lightning Network in Bitcoin, which seems to satisfy bitPico, previously advocated for the now-defunct scaling solution SegWit2x.

Last week, the bitPico node was blocked, which led to new charges in Bitcoin Cash’s centralized operations:

“Our monitoring node was banned again centrally as a bunch of VPS. We switched to a new IP and connected again ”

“Currently, we are tracking IP addresses, because they seem to break up into separate network groups, most likely to imitate decentralization”

As previously reported, one of the goals of the “stress test” is the accumulation of thousands of “attacking” nodes and the subsequent initiation of a multitude of forks in the BCash network.

Representatives of Bitcoin Cash have not yet given any official comments on their plans, while bitPico has publicly stated that it does not believe in the technological basis of this altcoin:

“We do not think that people at Bitcoin Cash understand how easy it is to bring down their network,” bitPico said last month.

Get The Latest Cryptocurrency News First - Join Us In Telegram

get connected


Recent Posts

Most Popular