Cardano and IOHK founder Charles Hoskinson commented on the latest controversy that erupted over the Bitcoin Association, a swiss-based NGO calling for blocking a miner of Bitcoin SV, a cryptocurrency created through a hard fork of Bitcoin Cash.
Hoskinson pointed out the first miner on the world’s most popular blockchain was in fact Bitcoin’s creator.
It needs to be told that the Bitcoin Satoshi’s Vision [BSV] chain is under the control of one miner who has taken over 80% of the BSV mining hash rate. The miner has accumulated over 9,000 BSV coins, valued at around $450k since 2020.
Bitcoin association which advances the BSV project alleged that the singular miner started mining empty blocks in June this year along with gradually raising their hash rate on the chain for months.
Such activities, according to the NGO, are causing network issues for “honest miners and businesses that interact with the Bitcoin SV network.”
While noting that producing an empty block is not inherently a dishonest act as per the rules outlined in the whitepaper, refusing to add new transactions that are broadcast to a block is.
The NGO also accused the miner of being behind numerous DDoS attacks on crucial network services and infrastructure as well as deliberate attempts to disrupt key network nodes with “odd and suspicious behavior”.
Just the other day, BSV released a statement that it would be pursuing criminal charges against the entity/entities responsible. and asked exchanges and miners to freeze all block rewards associated with the miner in question.
The BSV’s decision has raised a lot of eyebrows in the crypto community, especially in light of statements made by influential figures like Charles Hoskinson.
That being said, the Cardano founder recently spoke on crypto regulation and shared how authorities should approach the topic.
Cardano’s Charles Hoskinson Spoke About US Crypto Regulation
Hoskinson stated during a videocast on October 13 that a regulatory framework is the need of the hour for the industry to prosper in order to take into account the advantages of digital assets to the general public.
While simultaneously emphasizing that the United States is moving in the right direction with regard to crypto regulation and predicting that a comprehensive law might be passed next year.
The Cardano founder specifically noted that other legislative proposals might merge with the White House Executive Order on crypto development.