2018-8-25 20:38 |
As developers of bitcoin cash clash on technical aspects, it appears a cleavage or splitting bitcoin cash into two is inevitable for the just one-year old currency.
Issues over scaling
The clash it appears, is about stakeholders of the virtual currency attempting to draw more users to their side and pushing for mass adoption, every day transactions, by “increasing the block size” of the cryptocurrency. In fact, bitcoin cash itself is a creation of the larger bitcoin network as an option for ‘scaling.’
BTC ABC publishes new software
The typical open source format which the developers of this currency follow saw the declaration of strong differences in BTC when one section – Bitcoin ABC – sought to release its new software. The software includes sweeping changes such as upgrades, a smart contract features and an atomic swap support. In trading one cryptocurrency for another, traditional exchanges were omitted, by transiting to the atomic swap.
Though many of cryptocurrency projects view that ‘interoperable coins’ are the future of virtual currencies, inner circles of BTC are agnostic of this move, and have condemned this move strongly.
One of the biggest critics of ABC’s latest release is Bitcoin SV, the devs behind nChain. In its announcement the latter said: “Bitcoin SV is intended to provide a clear bitcoin cash implementation choice for miners who support bitcoin’s original vision, over implementations that seek to make unnecessary changes to the original bitcoin protocol.”
And so the line is clearly drawn between the clashing developer communities. Both are insisting that the new codes changes of their respective bloc should be introduced by November. This will mean that when users begin to download ABC software over the other to run their virtual currencies, then it will result in a split in chain and result in competing cryptocurrencies.
Origins of Split
Observers have attributed the origins of this mega-split in BTC to founder-creator of Ethereum, Vitalik Buterin who questioned a key supporter of bitcoin cash Craig Wright. Soon others like influencer, Jihan Wu, the co-founder of Bitmain the manufacturing company of mining hardware went so far as to call Wright as “fake Satoshi.”
Buterin also tweeted that “The bitcoin cash community should not compromise with Craig Wright to ‘avoid a split’ and should embrace it as an opportunity to conclusively ostracize and reject him.”
Besides, Bitcoin ABC and nChain, scores of other bitcoin cash implementations such as bitcoin classic as well as bitcoin unlimited are also looking to “predate bitcoin cash.”
Thomas Zander, a lead developer at Bitcoin Classic says that “both ABC as well as nChain” are on the verge of a hard fork. But what Zander opines is that neither is able to substantiate the rationale.
They are not responsive and do not offer any feedback nor listen to reason and workout a compromise request. Similar opinion was shared by Andrew Stone, the developer at Bitcoin Unlimited.
The larger community is critical of the growing differences between these two sparring groups as neither appears to have the best interest of the ‘end user’ in focus. Stone concludes that this has become an issue of power and ego not about technical merit and end-user adoption,” in his response on bitcoin cash forum.
The post A Year Old Cryptocurrency Bitcoin Cash Might Be Heading For A Split appeared first on ZyCrypto.
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