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F2Pool Will Support the Mining of BCHABC and BCHSV after Bitcoin Cash Hard Fork

F2Pool, the sixth largest bitcoin mining pool in the world, announced on Tuesday that it will allow miners to mine both coins generated from the upcoming Bitcoin Cash hard fork after the chain splits.

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According to the statement F2Pool posted on its WeChat official account, the next hard fork of Bitcoin Cash is scheduled to occur on November 15, 2018, at 4:40 PM UTC, which is likely to give birth to two rival chains —Bitcoin ABC and Bitcoin SV — and two cryptocurrencies known as BCHABC and BCHSV. After the fork is completed, F2Pool’s users will enable mine both BCHABC and BCHSV on the F2Pool Lab.

Beijing-based F2Pool is among China’s earliest Bitcoin mining pools and now owns about over 9 percent of the global bitcoin hash rate.But the mining pool still remains neutral in the contentious hard fork which splits the Bitcoin Cash community into two rival camps. No matter which side they take, profit-motivated miners are able to switch back-and-forth between BCHABC and BCHSV, depending on which coin is more profitable.

According to Coin.Dance, a leading Bitcoin network data provider, at least 75 percent of Bitcoin Cash miners are backing the SV network, compared to at most 18 percent for Bitcoin ABC over the past 24 hours. Notably, Coingeek, the largest Bitcoin Cash mining pool and the loyal proponent of Bitcoin SV, has controlled a 41 percent of the total Bitcoin Cash network hashrate.

It means hash power favors the Bitcoin SV camp which is led by Craig Wright, the controversial chief scientist of cryptocurrency firm nChain and the self-proclaimed creator of Bitcoin, as “Fake Satoshi.” However trading preference is tilting toward Bitcoin ABC which has the backing of the mining giant Bitmain. Against this backdrop, the outcome of this fork is expected to have both chains exist side-by-side.

Jiang Zhuoer, the founder of BTC.Top, another major Chinese mining pool, also believed this option may come true. When answering netizens’ questions on the Twitter-like Weibo platform yesterday, he indicated Bitcoin SV had a big chance to co-exist with Bitcoin ABC. In addition, he tended to think Craig Wright just liked to launch verbal battles with opponents, but was reluctant to throw big money in this hash war. “ I hope Wright will prove my assertion is a real slap in the face.” Zhuoer said.

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