Bitcoin ABC To Go Ahead With Controversial Hard Fork August 22, 2018 August 22, 2018 Kate Leaman
Bitcoin NewsAugust 22, 2018 by Kate Leaman

Bitcoin ABC To Go Ahead With Controversial Hard Fork

Bitcoin ABCBitcoin ABC which is the development team behind Bitcoin Cash has decided to go ahead with their hard fork upgrade in November.

This is despite the threats from other development teams that they would keep on using the old software.

Most importantly, at least one major bitcoin mining pool CoinGeek has confirmed that they have no plans of adopting the new hard fork.

Bitcoin ABC has already released version 0.18.0 of its new Bitcoin Cash implementation. Earlier this week, the world saw what ABC's plans are for the future of Bitcoin Cash. The updates are to be activated after the November fork upgrade. The features that have caused all the controversy are transaction ordering and two new opcodes: OP_CHECKDATASIG and OP_CHECKDATASIGVERIFY.

Many supporters believe that these changes will make Bitcoin Cash function more efficiently and will allow for the implementation of smart contracts in a bitcoin environment. However, there has been a lot of noise on the other side of the conversation.

Bitcoin ABC


The two biggest voices on the side of disagreeing with the changes are nChain, the blockchain development firm run by Craig Wright, and CoinGeek, the mining pool run by Calvin Ayre. nChain will be releasing its own upgrade called Bitcoin SV, short for Satoshi Vision, claiming to bring back Satoshi Nakamoto's aims for bitcoin. Instead of ABC's upgrades, it will feature the return of four original Satoshi opcodes and the increase of the block size to 128MB.

CoinGeek has decided to support Bitcoin SV instead of the ABC implementation. According to the mining pool, they are going with SV because they refuse to deviate from Satoshi Nakamoto's original vision for Bitcoin in his white paper.

Controversial Decision

This move by CoinGeek is set to cause problems for Bitcoin Cash. Right now two-thirds of the mining nodes on the Bitcoin Cash network are using ABC clients. It is still not clear how many of them will follow ABC's lead. Having a leading mining pool like CoinGeek refusing to participate will end up dragging some pools into their side. Additionally, many Bitcoin Cash apps are already considering using multiple nodes since the two updates will not work well together.

It is also a difficult time for those who have not taken sides in the conflict. There are several development teams who have not announced their preference in the coming hard fork. Experts say that it will be up to Bitcoin Unlimited, which has one-third of the nodes running its client, to decide how the community will decide. Many people are taking a wait-and-see approach as the month of November comes closer.

AuthorKate Leaman

Kate is market industry expert who has spent majority of her life on wall street, she has thought to have a knack at picking the right stocks to invest into. With the rise in cryptocurrencies she has is now able to use her expertise to a new market and give us insights on what we can expect in the present and the future.