Bitcoin Cash Could Split Into Two

Aug 25, 2018 at 09:12 Update Date :Aug 25, 2018 at 09:12 UTC

The 2-year old currency Bitcoin Cash might just be split into two. Originally created off the BTC network through a hard fork, investors of BTC Cash unanimously looked to boost the coin’s block size parameter, looking to attract more and more users; thus, ensuring greater trade.

However, over the last year, there seems to be no dearth of technical disagreements among the developers of the currency.

A new software released by Bitcoin ABC has also been looked upon as a subtle declaration of civil war within the community. The software holds a number of upgrades, including smart contracts that would have support for atomic swaps, a method of trading alt-coins without traditional exchanges. While a number of crypto-projects are visibly anticipating the idea of interoperable coins, many in the BTC Cash community do not.

Craig Wright, the CEO of nChain, and the pseudonymous Bitcoin creator Satoshi Nakamoto (yet the be shown proof) are heading the opposition. He has also partnered up with entrepreneur and CoinGeek founder Calvin Ayre, to lead the opposition using a new cash implementation of BTC dubbed Bitcoin SV. Bitcoin SV opts to replace all the scripts of Bitcoin ABC with this own. It also extends the block size limit 128 MB (the block size of BTC Cash is a mere 32 MB).

In an attempt to hit a blow at the developers of Bitcoin ABC, the circular issued by Bitcoin SV says, “Bitcoin SV is intended to provide a clear cash implementation choice for miners who support Bitcoin’s original vision, over implementations that seek to make unnecessary changes to the original Bitcoin protocol.”

While a “civil war” within the departments of a cryptocurrency regarding its future direction is pretty common, this particular ruckus could have huge implications for BTC Cash.

Bitcoin SV and Bitcoin ABC software are incompatible, and both of them want to begin the new changes this November itself. Therefore, if Bitcoin Cash users have to split up to use the two different software, a new competing coin could just be created.

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