This November we may see yet another blockchain split (Fork) of Bitcoin Cash (BCH) which could result in yet another coin ‘Bitcoin Cat’. This was announced by Haipo Wang, Founder & CEO, ViaBTC and CoinEx Exchange who tweeted:-
In his Medium post Haipo further said, “I chose the word “cat” for the project because, for one hand, “cat” sounds similar to “cash”, and for the other, cat is a cute and common pet. I once raised a cat and named it Satoshi. Choosing the word “cat” as a name is quite interesting, making the project easy to remember, spread, and further attract the public attention. Dogecoin survived and has developed well in the fierce competition precisely because of its unique name. The crypto market already has Doge coin but no Cat coin, leaving a huge market opportunity for us.”
For our readers knowledge, the basic ground for this fork comes from the fact that every six months BCH community upgrades the BCH Network which more than usually take place on May’15th and November’15th per year. Presently there is a lot of infighting within the BCH community regarding the DAA as some people believe that it can be manipulated. These discussions have been going on for the past year and a half and the issue has become too contentious for the warring sides within the BCH community.
The DAA (Difficulty Algorithm Adjustment) is an algorithm that adjusts the mining difficulty parameter. Bitcoin (BTC) adjusts the same every 2016 blocks. BCH has an extra EDA (Emergency Difficulty Adjustment) algorithm alongside DAA that which was changed on November’2017 to adjust mining difficulty parameter after every block.
Within the community there are some who say that the split of Bitcoin Cash (BCH) is inevitable, while others, the supporters of BCH, do not want the split. This was indicative from the tweet of Dennis Jarvis, CEO, Bitcoin.com:-
The Bitcoin Cash (BCH) fork is expected to be on 15th November'2020.
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