A Bitcoin Cash node believes it is ready to spearhead the project as the coin seems destined for another chain split as we are reading in the Bitcoin Cash news today.
With the Bitcoin Cash community getting divided once again, supporters of an alternative implementation of the Bitcoin Cash Node believe they have most of the miners behind them. the supporters of the Bitcoin Cash node rejected the latest ABC latest upgrade which will require miners to donate 8% of all newly minted coins to a development fund from November. One Redditor even accused Bitcoin ABC lead developer Amaury Sechet of choosing to create his own coin that will pay one address 8% of minted funds.
Sechet explained that he believes BCHN doesn’t have the resources needed to maintain their own chain being independent of Bitcoin ABC predicting that BCHN risks being wiped out of existing if they try to do another fork in November. NilacTheGrim, a BCHN supporter who has called for the resignation of Sechet said that the ideal outcome for the dispute will be for the entire ecosystem to reject the change to the coinbase reward and where Bitcoin ABC lost all its market relevance for trying to do what it has done. Nilac asserted that BCHN has the support from the bigger Chinese mining pools that express doubt that BCH will fork in November:
“Our code is faster. We have a much faster mining API. Miners were already installing our software before this latest round of controversy. They like our node because it has less latency for mining calls, which reduces orphaned block risk when mining. The ecosystem has funded us with over $700,000 and that’s only after 6 months of existence. Some of our contributors are also individually funded. We have enough funds.”
Reddit supporters say that up to 60% of the miners are behind them. Sechet, however, dismissed the chances of the Bitcoin Cash node surviving independently:
“Bootstrapping something from scratch is a very hard task. Calvin Ayre spent many millions on BSV and it can barely compete with Bitcoin Cash even with all its problems. BCHN will find itself in a similar position, but without the kind of resources that Calvin Ayre has — this will be a very tough spot to be in.”
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