BitMEX Releases Fork Monitoring Tool in Run-Up to Bitcoin Cash Hard Fork

Published at: Nov. 5, 2018

The research arm of major Hong Kong-based cryptocurrency derivatives platform BitMEX announced it had launched a network monitoring tool for Bitcoin (BTC) and Bitcoin Cash (BCH) in a blog post Nov. 5.

BitMEX described the new resource, ForkMonitor.info, as “useful for monitoring the situation during network upgrades (softforks or hardforks), as well as being potentially useful in helping to detect unintentional consensus bugs.”

ForkMonitor is connected to “several” nodes on both the Bitcoin and Bitcoin Cash networks.

BitMEX’s release is explicitly times to coincide with an upcoming hard fork of Bitcoin Cash, scheduled for Nov. 15. Today’s blog post notes, however, that the focus is temporary, stating “[a]fter the Bitcoin Cash hardfork is complete, the website’s intention is to move some of the focus over to Bitcoin.”

The platform has rarely held back on its criticism of Bitcoin Cash and its better-known figures – recent social media posts for ForkMonitor describe Craig Wright, a major supporter of the BCH and self-proclaimed creator of Bitcoin, as “Fake Satoshi.”

“What will happen to Bitcoin ABC, Bitcoin SV and Bitcoin Unlimited during the BCH hardfork on 15th Novemeber (sic)?” BitMEX wrote on Twitter today, adding:

“(Craig Wright’s) (AKA "Fake Satoshi") node, Bitcoin SV, is expected to fork off from the network onto a new chain.”

Together with more implementations of the Bitcoin Core client, the tool may assist in spotting irregularities such as the CVE-2018-17144 consensus bug, which developers spotted and patched in September, BitMEX said.

Last month, BitMEX Research published a report revealing that Initial Coin Offerings (ICOs) had almost broken even on funds sold versus funds raised.

By press time, BitMEX is the second largest cryptocurrency exchange globally by reported daily trade volumes. However, as CoinMarketCap notes, since BitMEX is a derivatives market, its trade data is “excluded from the price and volume averages of Bitcoin” on the site.

Tags
Bitcoin
Bitcoin Cash
Bitmex
Hard Fork
Related Posts
Altcoins book 50% gains after Bitcoin and Ethereum set a path to new highs
The bullish momentum across the cryptocurrency market continued to build on Friday as a market-wide rally lifted the prices of most altcoins and boosted Bitcoin (BTC) and Ether (ETH) above their respective resistance levels at $51,000 and $4,000, respectively. The recent price gains seen in the altcoin market show no sign of slowing down, and several altcoins gained more than 30% on Friday. Data from Cointelegraph Markets Pro and TradingView shows that the best performers over the past 24-hours were Polymath (POLY), Bitcoin Cash ABC (BCHA) and XYO Network. Polymath rallies as its “Polymesh” mainnet launch approaches Polymath is an …
Bitcoin / Sept. 3, 2021
What the forks? Bitcoin Cash and Ethereum Classic see triple-digit rallies
It’s undeniable that Bitcoin (BTC) and Ether (ETH) are currently the two most dominant cryptocurrencies, and as a result, they receive most of the attention from the mainstream media, institutional investors and retail investors, but this doesn't mean that the sector leaders are not occasionally challenged by competitor networks. Two forked projects that once sought to challenge Bitcoin and Ethereum for their seats at the top are Bitcoin Cash (BCH) and Ethereum Classic (ETC). In the past week, both coins have demonstrated that they are still capable of generating excitement and producing big gains. Data from Cointelegraph Markets and TradingView …
Bitcoin / April 16, 2021
Investor Sues Bitstamp and Gatehub Over Millions in Missing Coins
Canadian cryptocurrency investor, Salim Satir, has filed a lawsuit against cryptocurrency exchanges, Gatehub and Bitstamp, with the High Court of Justice of England and Wales over $4.9 million in purported losses. The plaintiff claims that the losses resulted from misleading statements on Gatehub’s website purporting to detail its Bitcoin (BTC) to Ripple (XRP) trading function, in addition to the wrongful retention of 872 Bitcoin Cash (BCH) amid the August 2017 Bitcoin fork. Investor accidentally purchases ‘Bitcoin IOUs’ from Gatehub Satir alleges that information provided on Gatehub’s website mislead him as to “the operation and effect of the Bitcoin/Ripple exchange function” …
Bitcoin / April 19, 2020
Bitcoin Cash Celebrates Its First Birthday: From a Hard Fork to Easy Going
One year ago to the day, Bitcoin Cash (BCH) came into existence after a hard fork from the Bitcoin blockchain. It has been an interesting 12 months since the fork gave birth to BCH, as proponents have continuously argued the merits between Bitcoin (BTC) and BCH. Nevertheless, on the anniversary of the creation of Bitcoin Cash, it is worth revisiting what caused this altcoin to come into existence and what it aimed to do. How did we get here Since its inception in 2009, Bitcoin’s user base has steadily grown over the better part of a decade. In the past …
Bitcoin / Aug. 1, 2018
Total Crypto Market Cap Hits 7-Week High At $400 Bln, BTC Holds Near $9K
The crypto market is continuing to grow with only slight dips today, April 23, as Bitcoin (BTC) remains close to $9,000 after two weeks of gains and total market cap hits a 7-week high, according to data from CoinMarketCap. Crypto market visualization from coin360.io BTC is currently trading at around $8,840, down around 0.70 percent over a 24 hour period to press time, according to data from Cointelegraph’s BTC price index. Ethereum (ETH) is up around 0.10 percent over a 24 hour period to press time, trading at around $636, according to data from Cointelegraph’s ETH price index. Of the …
Bitcoin / April 23, 2018