Home News BitPico group proved the centralized nature of Bitcoin Cash

BitPico group proved the centralized nature of Bitcoin Cash

Stress testing of Bitcoin Cash network by cryptocurrency mining group BitPico revealed that 98% of the network’s nodes are concentrated at one and the same location. Many other experts share BitPico’s suspicion that this fork of the first cryptocurrency lacks decentralization.

According to the results of the testing conducted, most of Bitcoin Cash nodes are located at a single server bank, which means that this altcoin network is centralized, though the developers of BCash claim to the contrary.

According to earlier claims made by BitPico miners, they are going to launch a 51% attack on BCash network in order to create a fork of their own. BitPico plans to accumulate enough computing power to “swamp” Bitcoin Cash blockchain in the coming months.

BitPico miners are not the only ones who accuse BCash altcoin of being centralized. Having found out that more than a half of the coin’s nodes were working from Alibaba servers back in December 2017, a well-renown cryptographer Nick Szabo mockingly called Bitcoin Cash network a “centralized sock puppetry”.

The standoff between Bitcoin and Bitcoin Cash began in August 2017. It was triggered by Bitcoin being hard forked due to its scalability problem. Bitcoin Cash was to accelerate transaction speed through reduced mining complexity and the implementation of larger blocks. However, experts at Microsoft believe that technologies like Lightning Network are much more effective in solving scalability problem than hard forks and block size increase that are being advocated by Bitcoin Cash supporters.