Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Splits in the BCH developer community are quite imminent as different camps propose their own Bitcoin Cash Satoshi Version with different views over the technical future of the digital currency.
The splits in the Bitcoin Cash technical community are quite imminent as the fourth largest digital currency by market cap is headed for a hard fork in November. Two camps have been formed as a result of the split who see a different technical future of Bitcoin Cash. As a matter of fact, the debate for the original Bitcoin Satoshi Version has intensified further.
nChain Releases Bitcoin SV Client Alpha Version
Craig Wright, the chief scientist at nChain launched the alpha version of Bitcoin SV client on last Thursday, August 30. nChain also announced a full-node Bitcoin Cash implementation along with the creation of SV pool that will start onboarding miners this month. SV Pool is said to be a Bitcoin Cash mining developed “in line with the original Satoshi Vision.”
The launch of the Bitcoin SV client by nChain is seen as a shot on Bitcoin ABC developers who are planning to bring several changes in the upcoming BCH hard fork. This has been outrightly opposed by nChain, BCH developers and mining operation CoinGeek. To be noted, the full-node implementation by Bitcoin ABC is still quite popular among BCH miners with nearly 1444 nodes running the Bitcoin ABC software.
Although the Bitcoin SV nodes have started to come online soon after the launch, SV has still a long mile to cross in order to overcome ABC domination.
Craig Wright Threatens CoinEx Exchange
On Saturday, September 1, CoinEx exchange released a statement saying that they would create a Bitcoin SV version, in case of the hard fork. Craig Wright has made some sharp attacks on the CoinEx exchange by outrightly calling this a “fraud” even threatening to shut down the exchange.
Please note – this statement from CoinEx is fraud.https://t.co/l0i7vlNgkS
— Dr Craig S Wright (@ProfFaustus) September 1, 2018
CoinEx said that Bitcoin SV would result in an altered version of BCH protocols causing a fork in the existing protocols. The exchange noted:
“After the fork, we will release a BSV/BCH trading pair in CoinEx so you can buy or sell BSV. CoinEx will not support BSV deposit and withdrawal until its chain is stabilized and all supporting services e.g. wallet are available.”
CoinEx also asked users to be ready for the fork event while asking them to deposit their BCH holdings in the exchange’s wallet.
“To avoid unnecessary asset loss, CoinEx recommends all users to deposit their BCH assets to CoinEx before the potential forking. We will provide 100% protection for your assets and please be assured that you will receive the forked asset of BSV as promised.”
On the other hand, other development teams have been attempting a compromise before Bitcoin Cash. Bitcoin Unlimited, which runs the second most popular BCH full-node client said that it will add a user-configurable support to all the upgrades which are proposed by nChain and ABC. BU has also encouraged the miner community to join them and support the compromise.
Cobra, the co-owner of Bitcoin.org has unveiled its plans to launch a Bitcoin Cash client with no additional features thereby allowing users to continue using their BCH funds without the fear of losing out on the BCH network split. Cobra has claimed to have secured support from nearly 25% BCH hashrate.