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Lately, bitcoin cash has been suffering with disagreements to an extent that now people are expecting a bitcoin cash split.
The idea of partition, particularly, instigated when Craig Wright, the Australian cryptographer and nChain founder, claimed that he was ‘Satoshi Nakamoto’, pseudonym of the creator of bitcoin. After claiming the pseudonym, Wright faced immense opposition from influential people like Vitalik Buterin, creator of Ethereum. Vitalik along with Jihan Wu, the co-founder of mining hardware manufacturer Bitmain, regarded Wright as ‘fake Satoshi’. They disapproved all of his claims as the creator of bitcoin.
Vitalik even openly expressed his sentiments on a Q&A session at the Deconomy conference in Seoul, South Korea. He said :
Given that he makes so many nonsensical claims, why is this fraud allowed to speak at this conference?
This opposition caused formation of many groups and therefore, caused division among colleagues, workers, supporters and developers. Since then, bitcoin cash developers have been segregating. The developers have been opposing and quarreling over technical issues. They have been continuously disagreeing over one matter after another.
In the past, bitcoin cash released a new software, Bitcoin ABC , to offer users with new promising features. Several updates were bestowed to users along with a smart contract feature for supporting atomic swaps and trading one cryptocurrency without traditional exchanges. Again diverse opinions were observed on the idea of inter-operable coins. Craig Wright and Calvin Ayre, entrepreneur and founders of crypto news site CoinGeek, showed resistance to aforementioned latest software and decided to lead many of the developers to resist as well.
After uniting against Bitcoin ABC, a move for new bitcoin cash implementation called Bitcoin SV was initiated. This was exactly where the remaining doubts regarding the split of bitcoin cash turned very strong and obvious.
People started vilifying the efforts led by Craig Wright that were making the split inevitable. Buterin didn’t hold himself back on this instant as well and addressed bitcoin cash community through his tweet. The BCH community should NOT compromise with Craig Wright to “avoid a split” and should embrace it as an opportunity to conclusively ostracize and reject him. Bitcoin Craig (BCC) can go take the ticker symbol from the now-defunct cryptocurrency to which it is a fitting successor.
— Vitalik Non-giver of Ether (@VitalikButerin) August 22, 2018
Bitcoin SV abolishes Bitcoin ABC’s script, whereas, it simultaneously aims to increase block size to 128 MB. Bitcoin SV released announcements regarding their plan for avoiding any kind of changes to bitcoins’ original protocol. The announcement reads:
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.
The announcements on the official site also explains the views of Calvin Ayre.
He readily supported nChain for setting up Bitcoin SV. He further added:
Because miners should drive the roadmap in the Bitcoin space, CoinGeek and other miners asked nChain to create a professionally-driven implementation of the Bitcoin full node software (for use on BCH) that restores the original Bitcoin protocol. CoinGeek is sponsoring the project and intends to mine with Bitcoin SV. We invite other BCH miners to join us in using Bitcoin SV to voice their support for the Satoshi Vision.
Surprisingly, a neutral group, besides proponents and opponents of bitcoin ABC and bitcoin SV, also came in to the game. The people of this group started demanding bitcoin ABC and bitcoin SV to be sensible and mature. At the moment, this group is trying its best to unite all the people under the roof bitcoin cash only by disapproving the idea of division. Thomas Zander, bitcoin classic lead developer, tried to eradicate all the differences between opposing parties by presenting his suggestion.
He said :
Both ABC and nChain are trying to hard fork. Both of them are not giving any rationale why. Both of them are completely not responsive to any feedback or any compromise requests from the rest of the ecosystem.Don’t make the mistake to think that people have to choose between ABC and nChain.
There is a 3rd option which is to NOT hard fork and continue on the path of growth and enabling more users.
Similarly, Andrew Stone, Bitcoin Unlimited lead developer, tried to reconcile everyone by explaining that this meaningless war is all about power and ego rather than technical merit. He said :
Given the ‘no changes, no matter how reasonable, except mine’ strategy being pursued by both of these organizations, I can only sadly conclude that this is again about power and ego not about technical merit and end-user adoption.
At the moment he is working on a voting system for Bitcoin Unlimited users so they would get to say what changes they support and would like to activate. Furthermore, Cobra is working on a code to make sure that users don’t lose their money if bitcoin cash splits. The code aims to prohibit the value of cryptocurrency from dropping if BCH undergoes the unfortunate event of split.
The matters regarding bitcoin cash are very hot at the moment. It is expected that the split will be taking place in November if all the attempts aiming to gather groups ultimately see nothing but failure.
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