Ryan X Charles, CEO of Money Button and Bitcoin Cash Advocate, recently released a video describing how to avoid splitting in the Bitcoin Cash Blockchain. This is a time when the network expires in about 10 days and can lead to a split in the chain.
He started by saying that he really did not want to see a division and that it was a “bad situation”. This is because he wanted to create “world money” that turns into unity rather than division. Splitting the chain would therefore reduce the network effect of the chain, and more users who use it would add value. In contrast, a division would only make up the network by a quarter of its previous value, not in value, but in utility.
He talked about the introduction of Bitcoin Cash and how it had the replay protection. Bitcoin Cash, but not Bitcoin [BTC]. This subdivision, however, is another case, Charles clarified.
There is no replay protection in this split, so each wallet transactions are valid in both chains. Bitcoin.com, however, tries to counteract this by providing protection by using OP_CHECKDATASIG in its transactions. This splits the transaction in the chain, said Charles.
So, how are you doing it? There are two different chains in the network. This is what most portfolios would like to do, he said.
It is also important that wallets and exchanges are protected against the background of the split, that all transactions in the wallets in both chains are accepted. If a transaction is not valid, it must be treated as invalid.
This provides a method for many services created in BCH, such as: For example, the money button to effectively protect against the loss of funds that could be carried out in the division.
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