Another Fork of the Fork? Bitcoin Cash Upgrade Coming in November

Bitcoin ABC and its lead developer Amaury Sechet are forking Bitcoin Cash now, according to BCH proponent Roger Ver.

“Bitcoin ABC and @deadalnix have announced that they are forking away from #BitcoinCash on Nov 15th. We wish them good luck with their new coin and thank them for the free airdrop to all BCH holders,” tweeted Ver.

Ironically, November 15th is also the day when Bitcoin Cash (BCH) was hard forked into Bitcoin SV (BSV) back in 2018.

However, it is just an upgrade, as a month back, Sechet published an update about Bitcoin ABC where he talked about making primary improvements such as a new Coinbase Rule and change to the Difficulty Adjustment Algorithm to the blockchain.

“The addition of this new rule represents a significant step. […] node implementations, have developed a financial reliance on powerful interests such as mining corporations, venture capital funds, and angel investors,” read the blog.

Ver’s reaction came following Bitcoin ABC’s 0.22.1 release, which will activate the new coinbase rule, diverting 8% of all newly minted BCH to a development fund on Nov. 15.

Cointext CTO Vin Armani, who sees a split to be a more desirable outcome than infighting, says the most important thing about the event is that “there will finally be a Bitcoin network, with the roadmap necessary to become peer-to-peer cash at a global scale, that doesn’t include vocal and influential humans who believe you can fund such a project with donations.”

He further shared that the vocal people in the council have cryptographically proven that they are major miners and holders in the network, and their incentives are aligned with increasing the value of the network. If these influential people get “overthrown,” it will be by those with an even greater stake.

In the Bitcoin Cash network, Bitcoin ABC has 533 nodes (42%), while BCHN’s 126 nodes represent just a 10% share in the network’s 1,260 total nodes.

Bitcoin Unlimited (BU) implementation that has the largest share 44%, with 565 nodes, however, is opposed to the coinbase rule. And if BU and BCHN come together, they can reject the November upgrade.

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Author: AnTy

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