BCH protects the interests of Xiaobai and provokes a sigh of relief. Is this right or wrong?

Event review

As we all know, this upgrade of BCH is mainly two contents: Add schnorr signature & isolation witness recovery. The coverage of the currency media is mainly concentrated on the schnorr signature, and the report “Isolation Witness Recovery” is relatively rare.

• May 27 madman market analysis: heroes in the chaos, objective and rational respect for the market
• Why doesn't the "blockchain + shared travel" use the blockchain?
• Super Plus enjoy! The holders of Bitcoin who entered the market a year ago finally got a profit today, far exceeding other mainstream currencies.

Before the upgrade, people often make mistakes to send the BCH to the Segwit (hereinafter referred to as SW) address at the beginning of 3. Although in the world of cryptocurrency, the transfer behavior is irreversible. If you send the wrong currency to someone else's wallet, just contact the other party for negotiation, or a chance to let the other party take the initiative to return the money to you. However, BCH does not support SW address. Any currency sent to SW address becomes "unowned currency", so there is no way for others to take the initiative to return.

The "separated witness recovery" of this upgrade is to allow miners to return these coins to their original owners. But in essence, any miners who can make the wrong money can spend: If the miner is kind, he can return the coin to the original owner; if the miner is malicious, he can transfer the coin to his wallet, Have it.

After the BCH upgrade, the function of this isolation witness recovery took effect. I did not expect to be first promoted by a mine called “fake unknown”. The mine transferred all BCHs that were sent to the SW address to their wallets.

After discovering this situation, BCH's large miners urgently transferred a large amount of computing power from BTC to dig BCH, and initiated the chain reorganization of two blocks, invalidating the transaction of "fake unknown" mining pool, and the BCH that sent the mistakes. All things belong to the original owner.

Therefore, this reorganization event is a defensive behavior to protect the interests of the holders. But in the mouth of some BCH black, it became "BCH big miners took the initiative to launch 51 attacks."

扒一扒fake unknown this mine pool

Bch.btc.com This block browser is used to resolve the name of the mining pool based on the coinbase information of the block. If the mine does not indicate its identity in the coinbase, the browser will be marked as "unknown", indicating that it is unknown. And this mine-carrying mine pool is written directly in the coinbase, so in order to distinguish it, the block browser actively named the mine pool "fakeunknown".

On the eve of the BCH upgrade, the mining pool of the hidden head of the Tibetan head began to switch a large amount of computing power to mine, in order to carry out the "stolen currency" in the first time after the upgrade. Shortly after the BCH upgrade, the mine pool quickly withdrew its computing power.

Should we protect the interests of Xiaobai?

If BCH wants to become the currency of the daily use of hundreds of millions of people in the future, then it must be thought of. Because the vast majority of users in the future are white, they will certainly make a variety of low-level mistakes.

This defensive reorganization did not violate the rules of the game.

Chain reorganization itself is part of the BCH consensus rules. Large miners use superior computing power for defensive restructuring, relying on their own strength, rather than some kind of "privilege." If you have a lot of computing power, you can also initiate a reorganization.

Need to understand that the operation of any POW currency is based on the fact that most of the calculations are honest, and BCH is no exception.

In this reorganization, except for the fake unknown mine, the others did not suffer any losses.

If you don’t defend, let the bad guys steal the money.

If BCH's big miners let the malicious powers steal money, it is foreseeable that BCH will be attacked by more public opinion than it is now, because many users' coins are really stolen. By then, the title of the media will become "BCH is extremely dangerous, and miners can steal the user's currency at will"

So no matter whether you are defending or not, someone will be discredited. The two evils are taken lightly, and defensive reorganization is the only correct choice.

Conclusion

This BCH upgrade has been raging. First, someone used an old BUG to let the miners only play empty blocks. Then someone wants to steal the coins. I don't know if they are a group. However, on the eve of the BCH upgrade, someone posted 180,000 BCH empty orders in bitfinex. I estimate that this empty order is related to the attack behavior during the BCH upgrade. However, BCH quickly repaired the BUG, ​​and successfully responded to the currency, so that the price did not fall and rose, and finally led to this super big empty single burst, it is too fast.

Source: BCH enthusiast BruceLee

We will continue to update Blocking; if you have any questions or suggestions, please contact us!