TL;DR: “Due to strong demand from prominent Bitcoin businesses, miners, mining pools, and developers,” anonymous developer freetrader announced, “we are releasing a minimally-altered client based on Bitcoin ABC.” It’s the response from a dozen well-known developers to the Infrastructure Funding Plan for Bitcoin Cash (IFP), marking a potentially critical turning point in the heated debate.
Bitcoin Cash Developers Fork ABC Reference Implementation Client
Calling it the Bitcoin Cash Node (BCH Node), freetrader explained, “The Bitcoin ABC version 0.21.0 client, released for the May 15th 2020 upgrade, includes controversial changes to BCH coin issuance. It is generally agreed that the lack of consensus and method of activation significantly raise the risk of a chain split.” ABC recently announced its intention to move forward on the IFP, essentially baking it into the protocol.
Our contributors include: Andrea Suisani (sickpig) of Bitcoin Unlimited, Calin Culianu (NilacTheGrim) of Electron Cash, Fulcrum; Dagur V. Johannsson, emergent_reasons, Fernando Pelliccioni of Knuth Node, freetrader formerly of Bitcoin ABC, imaginary_username, Jt Freeman of fountainhead.cash. Developers in support of the effort: Jonathan Silverblood, Josh Green of Bitcoin Verde, Mark Lundeberg, Tom Zander of Flowee the Hub.
“The only difference between the new client and ABC v0.21.0 is the removal of the coinbase reward diversion code and its associated signaling and activation,” freetrader noted. ABC’s plan to go ahead with the IFP prompted responses from the developer community, including those who have worked closely with the main reference client team, many of whom voiced their principled opposition.
“The primary goal of this initiative is to provide a safe and professional node implementation that will neutrally follow the longest chain without contributing to the risk of a chain split,” freetrader assured. BCH node “will function as a drop-in replacement for miners and businesses already running the ABC client.”
Committed to Maintaining BCH Node for At Least One Year
Criticism of any node alternative inevitably led to talk about its funding, the root issue of the IFP and seemingly inescapable for a project as large as Bitcoin Cash. Protocol development is decidedly unsexy, thankless work, often without the media attention given to hotshot application development, for example.
We are in active communication with exchanges, mining pools and miners.
To that end, freetrader stressed the group of 12 “commit to maintaining the alternate client for at least one year and cooperating with the wider ecosystem in a transparent process that will help avoid a similar situation in the future.” Specifics on how it will be funded were not announced.
Key, as well, for any potential reference client is reaction from increasingly powerful cryptocurrency exchanges in viewing such a client fork, however mild. “We are in active communication with exchanges, mining pools and miners,” freetrader insisted. “Bitcoin Cash Node software will be available soon, followed by a more detailed near-term plan.”
TIMELINE THUS FAR
- 01222020 Infrastructure Funding Proposal
- 01222020 BCH devs react
- 01232020 Jiang Zhuoer AMA
- 01232020 Amaury Séchet addendum to IFP
- 01242020 Bitcoin.com releases statement in support of IFP
- 01242020 Jonald Fyookball’s position on the IFP
- 01252020 Justin Bons, Tobias Ruck suggest voting on IFP
- 01252020 Antony Zegers support of IFP
- 01262020 Early market reaction to IFP
- 01262020 Anon dev imaginary_username’s reaction to IFP
- 01262020 Peter Rizun’s reaction to IFP
- 01272020 Opposing Miners Group
- 01272020 BUIP143: Refuse the Coinbase Tax
- 01282020 Bitcoin Verde’s reaction to IFP
- 01282020 Bitcoin.com drops support for IFP
- 01282020 BCHD’s reaction to IFP
- 02012020 Jiang Zhuoer heavily amends IFP
- 02032020 Ethereum’s Vitalik Buterin, Zcash’s Zooko Wilcox-O’Hearn react to IFP
- 02072020 More Miners Voice Skepticism at Bitcoin Cash Infrastructure Fund Proposals
- 02102020 Giving Bitcoin Cash a Fighting Chance
- 02102020 imaginary_username Speaks: He’s Working to Build a Developer Funding Alternative
- 02122020 Lockdown: From Mainland China, Bitcoiner Talks Coronavirus and Fallout for Crypto
- 02152020 Flipstarter: BCH Voluntary Commons Funding
- 02152020 Bitcoin ABC Will Implement Bitcoin Cash Infrastructure Fund of 5% During May 15, 2020 Upgrade
- 02162020 Roger Ver on Bitcoin Cash Infrastructure Fund Update: Too Controversial, Not Worth it at This Point
- 02162020 Bitcoin Cash Infrastructure Funding Update: BTC.TOP Founder Proposes 2/3 Hash Voting Threshold
- 02172020 Bitcoin Cash IFP Author, Influential Mining CEO to Chinese Bitcoiners: Decentralization is Key
- 02192020 Two Notable Bitcoin Cash Developers Announce Opposition to the IFP
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DYOR: CoinSpice is your home for just spicy crypto things. We’re not affiliated with any cryptocurrency project or token. Each published piece is intended for information purposes only, not investment advice and not in the hope of impacting speculative markets. There are plenty of trading sites and coin-specific advocacy journals out there, we’re neither. CoinSpice strives for rigorous accuracy in our reporting. Information presented here is contingent usually on a host of factors, and the ecosystem moves fast — prices change, projects change, and at warp speed. Do your own research.
DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH.