Altcoin News: BCH Under Attack! Serious Issue with the Planned Hard Fork

May 15, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Today cryptocurrency Bitcoin Cash (BCH) was carried out the planned update with the help of hard fork. As expected, the Bitcoin ABC 0.18.2 client recognized the old chain as incorrect from block 582680. The available evidence, however, indicates that there are certain technical problems in the updated chain.

After the update, six blocks were added to the Bitcoin Cash blockchain, containing user transactions. The next ten blocks contain one transaction each — the so-called Coinbase transaction used to pay the miner. User transactions are not included in the blockchain.

Image credit: Coin.Dance

The analytical division of BitMEX pays attention to the same problem.

“It appears as if there may be a problem with the Bitcoin Cash hardfork upgrade, the number of txs per block is low (0 in the last 9 blocks, other than the coinbase txn). Our mempool has 1622 txs,” writes BitMEX Research.
Image credit: BitMEX Research

What can be the reason for the phenomenon currently observed in the blockchain cryptocurrency is not clear yet.

According to Cornell University Professor Emin Gün Sirer, the BCH network isn’t processing transactions as it came “under attack,” thanks to an “old bug in block template creation.” Gün Sirer added that someone spent “months sitting on this bug,” but only chose to exploit it now, during the network upgrade.

Poloniex Exchange announced the suspension of deposit/withdrawal of funds in BCH until further notice.

Author: Marko Vidrih