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Amuary Sechet: ‚Without this update Bitcoin Cash is destined to become irrelevant


Bitcoin ABC, the dominant implementation of Bitcoin Cash (BCH), has released a controversial new update that BCH supporters must implement by November 15 to facilitate changes to the core crypto protocol.

Lead developer Amaury Sechet said part of the reason for the new update was to provide crucial development funding to allow Bitcoin Cash to compete with Bitcoin and Ethereum.

„By comparison, Bitcoin Cash lacks funding and the result is a poorly maintained infrastructure, highly dependent on the work of other teams like Bitcoin Core, as well as poor development tools.

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The update will introduce a new difficulty adjustment algorithm called ‚ASERT‘ in response to long block times, along with a controversial feature that will reject all newly mined blocks that do not divert 8% of the rewards into a purse designated to fund the ongoing development of the ABC protocol, called the ‚coinbase rule‘.

Sechet predicted that without the coinbase rule, the future of BCH is a „slow journey to irrelevance,“ but said the divide in the community was much deeper than this issue. While some attribute BCH’s tensions to the coinbase rule, „even a month ago it was not a difficult adjustment These details are not very relevant“.

„A break occurs first at the community level, and then reasons are found to perpetuate it.“

He added, „I don’t think there’s anything that can be done to bring the community together at this point.

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What’s the problem?
Bitcoin ABC said the coinbase rule will allow „more technical talent to be hired to maintain and develop the network“ predicting that this will result in the removal of bottlenecks in the transaction chain to further speed up BCH transfers.

The coinbase rule seems destined to become the catalyst for a hard bifurcation in November; some supporters of the alternative BCH implementation ‚Bitcoin Cash Node (BCHN)‘ are calling for Sechet’s resignation.

Bitcoin Cash’s most prominent proponent, Roger Ver, has expressed his opposition to the coinbase rule, comparing the Reddit update to a change that will alter the BCH „to look more like Dash. He told Cointelegraph:

„I like Dash, but I don’t think BCH should be altered to look more like DASH. I wish those in the BCH community who want to change BCH to look more like DASH would sell their BCH for DASH.“

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They ask for the resignation of Sechet
In a blog post calling for Sechet’s resignation, BCHN supporter Nilac The Grim described „the much-feared ‚IFP Coinbase Rule'“ as the main source of contention among BCH fields, claiming that alternative implementations of BCH, Bitcoin Unlimited, bchd, Flower, Bitcoin Verde, and K-nuth, oppose its introduction.

Nilac said recent fundraising efforts have shown that „the community loves to pay for their development project,“ emphasizing that „there is no problem with funding infrastructure.

Speaking to Cointelegraph, Nilac predicted that Bitcoin Cash will avoid a tough November bifurcation despite the tensions.

„We are in communication with the mining groups in China and it is quite clear that they are also against this unilateral modification of the coinbase reward.

Sechet is not sure whether BCH will register a bifurcation in November, emphasizing that „BCHN will accept blocks coming from ABC, but not the other way around“.

„This means that there will be a bifurcation if the BCHN has more hash than ABC, but not the other way around,“ he said.

However, in the case of a bifurcation, Sechet warned that „the BCHN string will be eliminated“ if the BCHN string becomes longer than the BCHN string after the string breaks.

„I don’t think any exchange in its right mind lists an asset that can be eliminated, so they may be forced to [execute] a hard emergency bifurcation to ensure the survival of the chain,“ he added.