Is the BTC-Forked Bitcoin Cash (BCH) Hard Fork Inevitable? Peter Rizun Weighs In On Nov 15 Split
Could The Upcoming Bitcoin Cash (BCH) Hard Fork Mean Another Split Is On Its Way?
Craig Wright, the controversial crypto proponent, who claims to be the pseudonymous creator of Bitcoin, is now in the middle of a battle that has divided the Bitcoin Cash community at large (over its future).
As many of our readers already know, BCH has already undergone a series of hard forks over its short one-year span. In this regard, the currency’s upcoming harfork is all set to take place on the 15th of this month— but the decision doesn't seem to have received a majority consensus from the BCH community at large.
What’s Behind all This?
One brief look at the matter and we can see that a majority of the arguments regarding the update are because of a set of upgrades which many community members felt “should have been included in the upcoming code change”. With the upcoming hardfork now just a week away, many of the currency’s supporters are still questioning the veracity of this latest change— thus prompting fears that bitcoin cash could soon be split into two different cryptocurrencies.
Allegedly, one of these forks will run using the Bitcoin ABC framework while the other will run using specific software that has been created by Wright's company nChain called Bitcoin Satoshi's Vision (or Bitcoin SV).
More On the matter
While speaking on the issue, Wright tried to argue that by deploying hashpower, Bitcoin SV miners could effectively “mine empty blocks on the competing bitcoin cash blockchain” (thereby effectively curbing transactions from going through in a smooth fashion).
Wright also pointed out that this function is native to the BCH protocol and thus is not illegal (since there are no rules to prevent such a tx).
In this regard, Chris Pacia, a dev for e-commerce platform Open Bazaar, was quoted as saying:
“I don't mind splitting Craig Wright off, but he's threatened to destroy the other chain with a 51% attack. That's really uncool.”
At this point, it is also worth remembering that just over a year ago, Bitcoin was mired by a similar debate wherein the currency's community was split over a small feature regarding the altcoins online usability— thus promoting the creation of Bitcoin Cash.
While the arguments put forth by all of the involved parties are quite potent, many analysts argue that the entire situation can be viewed as a fight for power. In this regard, a well respected crypto expert by the name of Rizun was quoted as saying:
“I don't want to participate in something to give more influence to nChain and Craig Wright. It's not a technical debate, it's about control.”
Not only that, Rizun then went on to add that:
“I think what's happening is bitcoin cash has outgrown the need to have these regular hard forks. Because we set this plan in motion, we have this issue now for the first time where regulated hard forks are causing controversy.”