Bitcoin Cash can avoid the chain split if the new proposal that was announced which forces miners to contribute part of their earnings to the development of the altcoin, loses critical support as we are reading in the following Bitcoin Cash news.
After the dominant bitcoin cash node client Bitcoin, ABC announced they will be hard coding the proposal for the miner tax in the following upgrade, the CEO of BTC.TOP Jiang Zhuoer who is among the original proposers of the tax, explained that he would vote against the proposal with the help of his personal hash power of 3,500 which is almost 3 percent of the network hash rate at press time. The proposal was initially supposed to go live only if 66 percent of the network hash power voted for it.
Roger Ver and other prominent members of the crypto community and mining individuals, were listed as strong supporters. Some of the initial supporters later received a huge public backlash. For example, Roger Ver contested his claim later that he did give support saying that he was never contracted really about the issue. Bitcoin Cash can be saved by opposing the tax as the Bitcoin Cash founder later publicly announced saying that the potential for getting the community divided was too high.
After the clear division now in the Bitcoin Cash Community, Zhuoer believes that this proposal if accepted will do more bad than good. Taxing the miners a slight proportion of their block reward means that they will reallocate the funds to the developers and improve the infrastructure of the network. however, the proposal turned into the biggest boost for the community to rally right after the Bitcoin SV Fork. It is also expected that some other notable miners will take on the note of support and reject the proposal which will help keep the community together.
Bitcoin ABC announced its support for the proposal and even announced the upgrade which will be included in the latest release. It was also confirmed that the new version of the client that supports miner tax, was already released. The tax was supposed to be implemented after the bigger part of the hash power majority voted for it.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]