Bitcoin ABC – Bitcoin Cash Hard Fork scheduled for November

Apparently, the Bitcoin cash community is facing a hard fork. The part of the Bitcoin cash community that is pushing the network upgrade and gathering under the name Bitcoin ABC promises to make better use of the Bitcoin cash protocol and on-chain solutions.

There is disagreement in the Bitcoin Cash community. A part of the community has released Bitcoin ABC 0.18.0 in the hope that the Bitcoin Cash ecosystem will flourish. Their vision is “to create a solid monetary system that can be used by anyone in the world.” In addition, her Bitcoin Cash Network upgrade is a technology that not only has the potential to change civilization, but also “dramatically increases” people’s freedom and prosperity. Those who want to participate should upgrade to Bitcoin ABC version 0.18.0 as soon as possible.

What does Bitcoin secret promise?

Here are the technical innovations of the supposedly better Bitcoin secret Cash in detail: The new opcode OP_CHECKDATASIG. This should improve the BCH script language so that messages can also be validated outside the blockchain. With this you should be able to perform both Oracle and Cross Chain Atomic Contracts.

But the Bitcoin ABC client is not the only innovation in the Bitcoin Cash environment. From the house of nChain, best known for his Chief Scientist Craig Wright, comes a full node implementation called Bitcoin SV. “Satoshi’s Vision” (SV) has set itself the goal of restoring the “original Bitcoin protocol”.

In contrast to the new OpCode, the plan is to reintroduce old Satoshi Op codes (OP_MUL, OP_LSHIFT, OP_RSHIFT and OP_INVERT), which are completely arithmetic operations. The maximum number of possible opcodes per script should be increased and the block size increased to 128 MB.

A possible split?

This announcement not only contradicts the Bitcoin ABC update, but has also been controversially discussed in the Bitcoin cash community: In addition to the patents advanced by nChain, it is the concentration of the hash rate in the hands of Coingeek that is pushing critics. This mining pool, which fully supports the protocol changes around Bitcoin SV, currently represents 30 percent of the hashing power in the Bitcoin Cash network.

As briefly outlined in the latest Tech-ECHO, the community reacted rather cautiously. With the announcement of the 0.18.0 version of Bitcoin ABC, there is now concern about another chain split:

Disagreement is not uncommon in and around Bitcoin Cash. Roger Ver’s project is repeatedly criticized for the fact that the Full Nodes are not really decentralized. Even the idea of taking action against transaction fees with “Miners Choice” did not meet with a positive response everywhere in the community.

It was only in May that the Bitcoin Cash network carried out a hard fork to increase the block size to 32 MB. The Bitcoin ABC network upgrade is scheduled for November 15th.