The cryptosphere is gasping for breath with prices stabilizing and reaching its real value after the inflated prices in December 2017.
It has been well over half a year into the bear market but there is hardly any day in the cryptosphere that is not interesting.
And right now, the interest is around Bitcoin Cash .
For those of you who don’t know about Bitcoin Cash, it is a notorious fork of Bitcoin that came into existence last year in August as there was no solution of long-standing scaling issue of Bitcoin. Since then Bitcoin Cash (BCH) and Bitcoin (BTC) have gone separate ways, but BCH has continued to attack BTC repeatedly.
However, the good news is Bitcoin has handled the attacks comfortably and has become a more resilient network, thanks to BCH.
But the funny thing is, BCH is now on the verge of a chain split!
Yeah, you heard it right. BCH, which was a result of rage against Bitcoin, has itself fallen in the death trap with its creators having a hard time coming to a consensus. (PS: BCH is centralized, and this is the proof).
I know some of you might be thinking why split when you already split once from BTC owing to differences in opinion over scaling.
That’s exactly what we are going to discuss today.
So in this article, I am going to tell you:
What’s going on?
Who are all involved?
What do they want?
What should you do?
What’s Going On In The BCH Crew?
Bitcoin Cash, since its formation, has decided to hard fork every 6 months for planned protocol upgrades but only if the consensus is there.
This time, however, there is no consensus.
Bitcoin ABC Side [Bitman]
It all started when Bitcoin ABC, the most used Bitcoin Cash client, and its lead developer Amaury Séchet ( @deadalnix ), proposed a change in the upcoming November fork.
The changes go like this:
The specific features included in the November 15th upgrade, and provided by Bitcoin ABC 0.18.0, are:
A new opcode called OP_CHECKDATASIG that improves the BCH scripting language to permit the validation of messages from outside the blockchain. This will enable users such as the use of oracles and cross-chain atomic contracts.
The introduction of canonical transaction ordering. This is a technical building block that lays the foundation for massive scaling improvements in the future.
Several minor technical fixes and improvements.
These changes are part of ABC’s plan to make BCH the most scalable, usable and extensible blockchain. It further opens the doors for non-cash transactions on the Bitcoin Cash blockchain.
Here is a sneak peek into ABC’s vision for BCH:
ABC guys also want to keep the block size as 32 MB as of now, but the nChain people don’t agree on it.
ABC is also joined by Bitman who happens to control significant BCH mining power and have rejected the idea of Bitcoin SV (discussed later in the article)
Big drama when I woke up, @JihanWu called @ProfFaustus #faketoshi in a private group chat #BCH #BitcoinCash translation attached pic.twitter.com/hIKmTf4Htu