A number of Bitcoin Cash detractors and media publications have recently been spreading a false narrative that the BCH network was ‘51% attacked.’ In reality, however, honest nodes used their hashrate to stave off attacker nodes that were attempting to steal funds on the network.
BCH Developers Discuss the Recent Upgrade and Dispel the Term ‘51% Attack’
Over the last week, the Bitcoin Cash (BCH) hard fork has been discussed in the context of the attacker that tried to cause maximum damage to the chain and failed. According to the narrative spread many BTC maximalists, the BCH chain was ‘51% attacked’ and the protocol is ‘insecure.’ However, this isn’t the case at all and Nakamoto Consensus on the BCH chain is working as it should. On the Coinspice podcast on May 26, Bitcoin ABC lead developer Amaury Séchet and software engineer Corentin Mercier discussed the so-called attack with host Hayden Otto, in a bid to dispel the FUD and rumors. Basically, during the network upgrade on May 15th, it was discovered that a malicious entity was exploiting an old bug unrelated to the upgrade.
Software engineer Corentin Mercier (upper left), Coinspice host Hayden Otto (upper right), and Bitcoin ABC lead developer Amaury Séchet (bottom center).
The attackers waited to attack the chain on the upgrade day, in order to inflict maximum psychological damage to network participants by stealing funds stuck in ‘anyone can spend’ addresses. During the Coinspice podcast,