Bitcoin SV, also known as Bitcoin Cash Satoshi’s Vision, recently encountered a blockchain reorganization. The block reorganization – for short block reorg – was as a result of overwritten transactions on two separate blocks. There have been speculations that the block reorg was an attack.
It’s possible for these blocks to have been overwritten by attackers. However, the present explanation for the reorg is that the transaction activity on the network was overloaded by a planned stress test. The Bitcoin Cash Professional Stress Test group is responsible for the stress test, and it is aimed at being the largest stress test ever carried out on a public blockchain.
The group is mainly comprised of Bitcoin Cash Satoshi’s Vision proponents, and they are aimed at showcasing the capacity of the Bitcoin Cash network. They planned to carry out 24 million transactions at the same time to test the capability of the network after the split of the BCH network.
The Test Didn’t Go As Planned
According to Jonathan Toomim – a Bitcoin ABC developer – the stress test didn’t yield the expected result. It ended up firing back at the Bitcoin SV chain. Toomim said that the test group was trying to spam both Bitcoin SV and Bitcoin Cash, but they ended up making a mistake that resulted in a split. As a result, the spam only reached Bitcoin SV.
Due to the large volume of transaction, the BSV network suffered a mini-fork temporarily on Monday. As a result, all the nodes supporting the network stopped synchronizing with each other. To put the nodes of BSV back under alignment and arrange the forked blocks into a single chain again, some specific blocks were reorganized.
Blockchain Reorganization
Blockchain reorganization occurs when the consensus protocol known as Proof of Work oversees the validation of transactions on networks such as Bitcoin Cash (BCH) and Bitcoin (BTC). Because the Proof of Work consensus protocol needs miners to disburse huge amounts of computational energy in a bid to attach the next correct block in the network, sometimes they might propose new blocks at similar time frames.
Though miners often inform the whole network when a new block is being added. However, the total amount of data that must be transmitted through the network, as well as the number of transactions to be added to the block, might be slow to propagate. This was the scenario that occurred on Monday. The slow propagation of blocks caused two blocks on BSV network to be overwritten.
Bitcoin Cash SV has faced some criticisms, with some saying that the blocks were maliciously overwritten by outside attackers. However, the test group behind the stress test has come out to say that it’s not an attack. They explained the scenario that took place, and they said the block reorg is likely an accidental split.
Bitcoin Cash (BCH) Price Today – BCH / USD
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The value of Bitcoin Cash (BCH) is gradually recovering. The digital currency is now trading at $233 after an increase of about 12 percent over the past twenty-four hours. Nevertheless, BCH has lost about 54 percent of its value over the past seven days. The current market cap of the digital currency is $4.08 billion and its trading volume over the past twenty-four hours is $136.54 million.
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.
