Currently, 55% of the nodes are not compatible with the implementation by the ABC group. The rule that discounts 8% from the miners’ reward is the point of disagreement.
It seems final that a hard fork will occur in the Bitcoin Cash environment. There is still division between the ABC and BCH Node development groups over the implementation of the “coinbase rule”. It is a type of tax that imposes a contribution of 8% on the rewards per new block created. This would become the reason why the chain could undergo a division during the next network update scheduled for November 15th.
In mid-August, the Bitcoin ABC team announced the freezing of functions and the release of version 0.22.0, containing the new features to implement (coinbase rule and improvement of Mining Difficulty Adjustment Algorithm). Since then, both ABC and BCH Node have intensified the battle. Now they are seeking the support of the majority, since the rights to the Bitcoin Cash brand are in dispute.
The BCH Node rejects the coinbase rule activated by the ABC group, which wins more opponents every day. According to data from coin.dance, there are currently 1,257 public nodes on the Bitcoin Cash network. Bitcoin Unlimited and BCH Node represent the majority, that is, 55.05% of the nodes that are not compatible with the implementation by ABC, the team that developer Amaury Sechet leads.
According to Bitcoin Cash promoter Roger Ver, the hard fork is final. He has previously stated that he is against the implementation of the coinbase rule. “Diverting some of the reward from Bitcoin Cash blocks to pay a single development team is a Soviet-style central planner’s dream come true,” he commented in recent days.
Other members of the community consider that the ABC group has already marked its distance from the legitimate code, while the rest are determined to continue with the original plan. Some community members also believe that the real problem with Bitcoin Cash is developers that have power. With this, they suggest that the frequent disputes in the cryptocurrency ecosystem relate to private interests rather than to differences that may be natural between groups.
Less than a month ago, Sechet announced that the next network update would include the coinbase rule, which surprised the community. There was an immediate reaction from the community, not only because most viewed it as detrimental to the Bitcoin Cash ecosystem, but also because ABC applied the rule arbitrarily. Many believe that it will allow the diversion of funds from miners to some developers.
For the moment, the coinbase rule is irreversible as the software that will put it into operation is written to go live in November. A similar plan to fund the protocol had previously failed, which also threatened to fork the network.
Bitcoin Cash would be undergoing its third division if a new hard fork occurs. In 2018, Bitcoin SV (short for Satoshi Vision) was born after a fork. Before that, in 2017, BCH was born from the coordinated division of the Bitcoin (BTC) network.
By Alexander Salazar