In the wake of a recent network upgrade, a number of nodes have been separated from the bitcoin SV blockchain, a development that highlights why “hard forks” have long been the subject of passionate infighting among cryptocurrency developers.
According to block explorer Blockchair, roughly 20 percent of BSV nodes are still running an older version of the software. That’s before most of the bitcoin SV moved to a new blockchain in an upgrade known as a “hard fork,” executed on July 24th, which increased the blockchain’s block size parameter to 2 GB with the goal of increasing transaction volume.
It’s unclear why these nodes have failed to upgrade. It could because they didn’t know they simply didn’t get the memo, they forgot they were running an older version or their operators simply didn’t agree with the changes in the hard fork and opted to protest.
Bitcoin SV, a cryptocurrency not to be confused with bitcoin, is the brainchild of entrepreneur Craig Wright, who maintains that he created bitcoin (despite a range of security experts debunking his cryptographic proof). Wright is also currently embroiled in a lawsuit in the US that centers in part around the question of his claims to the Satoshi Nakamoto mantle.
“There was a hard fork on BSV […] which resulted in a chain split, the new hard fork rules chain and the original rules chain. Most of the BSV economy and miners followed the new hard fork chain. The old original chain still exists, but has little economic significance, other than miners wasting money mining on it,” a representative of BitMEX Research, a wing of one of cryptocurrency’s largest exchanges,