A planned hard fork called “Genesis” took place on the Bitcoin SV network. According to blockchain observers, the activation block 620 538 was mined February 4 early in the morning.
As before, Bitcoin SV proponents continue to advance their point of view that their cryptocurrency is the original version of Bitcoin. According to the organizers of the update, it aims to return the protocol as close as possible to what it was at the time of the release of Satoshi Nakamoto in 2009.
Their views, however, are not shared by other market participants. So, the vast majority of miners continue to allocate their computing power in favor of the BTC network.
Miners are afraid to crash the Bitcoin SV rate
A significant number of node owners did not prepare the software for hard fork, as a result of which they remained in the old chain, and some miners already added their blocks to it, while the updated chain moves forward without them. BSV-enabled exchanges, meanwhile, are starting to resume cryptocurrency input / output.
Of the Genesis changes, it is worth noting the removal of the maximum limit on the default block size. The decision about what size blocks to issue will now completely depend on the miners. In addition, a number of changes were added to Bitcoin over the years of its existence. BSV developers, apparently, did not come to a consensus, which alternative parameters are the most optimal.
Meanwhile, miners are afraid to crash the Bitcoin SV rate.
Against this background, Max Kaiser expects Bitcoin SV to collapse by 90%.
It is also worth noting that half of the Bitcoin SV hashrate was provided by one mining pool.