BitMEX Launches a New Site for Monitoring Bitcoin and Bitcoin Cash Forks

Marco Verch / Flickr

The constant forks of both the Bitcoin (BTC) and Bitcoin Cash (BCH) blockchains have resulted in much confusion, both for novice and experienced investors alike.

In order to help clarify this ongoing issue, BitMEX, the cryptocurrency platform known for its leveraged trading, has launched to provide up-to-date information on the latest Bitcoin forks.

According to the announcement, the new site assists in the monitoring the situation during network upgrades, both soft forks and hard forks, in addition to providing a useful tool to stay on top of unintentional consensus bugs.

“The website is primarily geared towards Bitcoin Cash, running 8 Bitcoin Cash nodes compared to 5 Bitcoin nodes. The reason for this is the upcoming Bitcoin Cash hardfork, where several different nodes appear designed to follow different chains,” reads the announcement.

Read: Bitcoin Cash (BCH) Jumps Another 15% After Coinbase Announces Fork Support

As we previously¬†reported, the most relevant upcoming fork centers around a fundamental disagreement between¬†Amaury S√©chet’s¬†Bitcoin ABC¬†and Craig Wright’s¬†nChain¬†over changes to the BCH protocol that were proposed by ABC.

The website’s release comes several days after BitMEX CEO¬†Arthur Hayes¬†outlined a bearish thesis for Bitcoin in the firm’s most recent market research report, where he gave a¬†$2,000 to $3,000 price target.

BitMEX’s ForkMonitor will soon have its code made open source, which they hope will help facilitate¬†other organizations to build similar monitors.

More: BitMEX Research Sponsors Fork Monitoring Website
Similar: BitMEX Report: CEO Sets $2,000 Bitcoin (BTC) Price Target
Photo: Marco Verch / Flickr

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts