Bitcoin Cash Standard Organization (BCSO): ViaBTC CEO Haipo Yang New BCH Consensus Proposal


This Friday Haipo Yang, the CEO of Viabtc and Coinex issued a Medium blog recommending the establishment of a standardization institution like the World Wide Web’s W3C consortium. Haipo Yang aspires to originate a related group called the Bitcoin Cash Standard Organization (BCSO) in order to build standards and achieve better transparency when it comes to BCH consensus suggestions.

There are numerous large institutions like the Linux Foundation and W3C that work together to build standards in the world of computers and the internet. Yang wants to form a comparable organization for Bitcoin Cash (BCH) development standards.

He says Bitcoin is a consensus protocol that “should be defined by documentation instead of software codes.”

In order to bypass disagreement and possible blockchain splits, Yang assumes client protocols should be very cautious when making code changes. To begin building models and documentation Yang proposes the initiation of a BCH-centric standardization firm.

Yang explains:

“BCSO will regularly release the BCIP with updated standard documentation and help all clients with the updates — BCSO will also hold developer conferences to explore new Bitcoin technologies and growth.”

The Coinex CEO thinks the creation of the BCSO will make future Bitcoin consensus changes more public and transparent. When submitting BCIPs programmers should include documentation and test results, so BCH participants can get a better understanding of what is happening with development.

With BCSO, the modification process of Bitcoin consensus will be more public and transparent. While proposing a BCIP, a developer should include essays, reference implementation, test results etc. so that the public and peers could have a more profound understanding of the change.

BSCO will allocate BCIP No. for each proposal, collect suggestions from the community and call votes for the proposal via a method that’s commonly agreed by the community. According to the result of BCIP, BCSO will update the Bitcoin Standard Protocol regularly and set a timetable for software implementation and network activation in coordination with network upgrade.

However, as expected, Dr. Craig Wright did not take this announcement too well. He went as far as calling the organization fraud.

https://twitter.com/ProfFaustus/status/1035815594677952512

He responds to his critics by saying that there is no BCH split. SV will not be a separate fork. It will compete as per the whitepaper on hash power.

https://twitter.com/ProfFaustus/status/1035816233587941377

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide