On 5th September, Calvin Ayre, one of the core proponents of Bitcoin Cash [BCH] and nChain tweeted about BMG mining 23MB BCH block and unlocking the on-chain scalability of the cryptocurrency. BMG is the mining pool of nChain, which is one of the parties involved in the talks of the Bitcoin Cash hard fork, expected in November this year.
Calvin Ayre’s tweet | Source: Twitter
The official blog post on CoinGeek mentioned that 23.15MB blocks were mined in total, with a block height equaling 546423. The block reward involved was 12.5MB with a total of 97,318 transactions. The blocks were mined at 1:01 AM UTC. The post also stated that after unlocking the 16MB block, the mining pool is planning ahead to mine 32MB and 64MB blocks and will consider it an achievement.
Details of the block mined | Source: CoinGeek
Regarding the confirmation that it was BMG who mined the 23.15MB block, CoinGeek verified it, referring to Coin Dance and Bitfire data. However, there was an active discussion that took place on Reddit wherein the community was mulling whether BMG really mined the block.
As stated by a Redditor, Lovelyday, the message of block’s coinbase did not give much clarity on the identification of BMG as the miner. Furthermore, the user stated that a sign with the coinbase private key, miners can always verify themselves as the miner of that block. Therefore, if BMG is unable to prove that they mined the BCH block, then it is wrong to assume so.
In an update to the same Reddit post, the user added the explanation submitted by Coin Dance of BMG being the miner of the block. Coin Dance wrote:
“Our analysis found a few addresses that match perfectly in both timing and hash rate. // We’re also fairly confident that at least one other pool is managed by them under a different name but haven’t confirmed it yet so we’re giving them benefit of the doubt.”
Another Redditor named NewToBitcoinStuf also dropped in an opinion and wrote:
“Does it really matter? If yes, why does it matter? // Are you scared of big blocks?Are you scared of hashing power?What’s your M.O.? Raw hashing power baby”
Of late, there has been much discussion related to the split in the Bitcoin Cash community, resulting in the formation of multiple teams. nChain is one the parties involved in the matter, standing in the opposition against Bitcoin ABC.
The post Bitcoin Cash [BCH] 23MB block unlocked by nChain’s BMG, Coin Dance confirms appeared first on AMBCrypto.
Source: AMBcrypto
Original Post: Bitcoin Cash [BCH] 23MB block unlocked by nChain’s BMG, Coin Dance confirms
