Bitcoin Cash SV [BSV], the newest member of the hard fork of the Bitcoin Cash [BCH] family, recently faced new some controversial issues after a research worker reportedly showed how any user might spend the same coins twice on its network in an exceedingly “0-conf transaction.”
Bitcoin Cash [BCH], that was created from an exceeding hard fork from the Bitcoin [BTC], earlier in Aug. 2017, uses 0-conf [or zero-conf] to permit more quick transactions, that means they’re nearly always confirmed within the following block.
In a multi-phase testing, included a video demonstration ‘posted‘ to Vimeo, the user, referred to as “reizu,” succeeded in “double spending” BSV tokens in an exceedingly “0-conf transaction,” demonstrating the network’s vulnerability to attack or disproving major supporter named ‘Craig Wright’s’ claims [in reference to BCH) that “only miners” can do so.
The double spending demonstration was recorded with POP!, a PoS [Point-Of-Sale] retail application that had double spending detection.
“I’ve done several double-spending on the Bitcoin SV network,” reizu ‘outlined‘ in an exceeding recent post on ‘Honest Cash’ which is a BCH-based social network created after the hard fork of Bitcoin Cash SV [BSV]. Honest Cash’s page ‘noted‘ that the site was made in response to the censorship they reportedly found on alternative platforms during the recent 15th Nov. Hard Fork.
Since after its hard fork, BSV is already facing many technical difficulties and now this latest serious double spending issue
During its initial week, a blockchain reorganization gained the network’s negative publicity as high-profile critics blamed it for centralization, in distinction to Bitcoin’s [BTC] redistributed [decentralized] ‘network‘.
As a part of the investigation, reizu conjointly outlined signs the BSV network was “very centralized.”
Mentioning further, he added:
“After few mined blocks I discovered that the transactions that were being mined were those that were sent mostly always to a same nodes.”
Out of a complete 450 nodes, reize revealed that simply just four nodes control around 75% of the total network’s hashrate.
Technical woes have thus so far didn’t halt BSV’s success among investors in the meantime, with the fork supressing its rival Bitcoin Cash ABC [BCH] in market cap this week.
However, at the reporting time Bitcoin Cash SV [BSV] BSV/USD is presently trading at a price around $96.113 USD which is 3.88% lower than yesterday and is positioned at the 7th rank, as per ‘CoinChangelly‘.