Two years after the infamous Bitcoin Cash hard fork of 2018, the news about the new one scheduled for November 15, 2020, is spreading, and this time, nobody seems happy about the new possible drama.
The Bitcoin Cash community is at the beginning of a new era – Bitcoin Cash hard fork may happen on November 15, 2020, splitting the network into two blockchains. The hard fork is a result of longstanding debates over development funding.
Three main implementations are working in BCH right now: Bitcoin ABC, BCHN, and Bitcoin Unlimited. There are several other ones. So far, the Bitcoin Cash network was running thanks to many developments made by the Bitcoin ABC team. Bitcoin ABC created the mining node that gathered a huge fanbase. It supports all the latest technology improvements for BCH, setting the way for Avalanche to come.
The reason why the community heats up is that the Bitcoin ABC development team is asking the miners to share 8% of the revenue with the coding team. According to the ABC announcement, 90% of the developers time goes to supporting BCH with the most secure code possible. Since the team cannot work for free forever, they have decided to change the core consensus rules.
Per the Infrastructure Funding Proposal (IFP), 8% of the miners block rewards will go towards the addresses of ABC developers. They are going to put the funds in place to keep making the BCH network a competing project. The funds will go to BCH community members, as well as to the team.
A number of notable BCH community members place votes against the ABC plan. They blame the development team for asking too much money. They mention harmful attempt to split the community, yet others praise the ABC team for incoming free money.
The Free Money Part
The beauty of the hard fork is that you get free coins. However, you must possess the parent cryptocurrency, in this case – Bitcoin Cash. When Bitcoin Cash has forked off Bitcoin, people were angry. However, the situation changed. Today, BCH has gathered a ton of subscribers, fans, miners, and appreciation. People in the BTC community received free coins in a new blockchain. T ...