On November 15, 2018, it will come to the next Hardfork of Bitcoin Cash.
Hardfork is a protocol change that is not backwards compatible. Bitcoin Cash itself was created in August 2017 as Hardfork Bitcoin and exists since then as an independent crypto currency. Bitcoin Cash annually runs two scheduled hardforks to update the protocol. So far, this has been without major problems, but the change is now somewhat more complicated.
The makers of Bitcoin ABC, the reference implementation of Bitcoin Cash, presented their plans for the next protocol change in August 2018. A week later, the blockchain startup Nchain countered with a counterproposal called Bitcoin SV. The problem: If the Bitcoin cash community can not agree on a draft, then two new blockchains are created and a split of Bitcoin Cash occurs again.
The dispute is, as more often, the maximum block size. Bitcoin SV wants to increase this value to 128 megabytes, while Bitcoin ABC pleads for leaving the limit at 32 megabytes. In addition, the Nchain warehouse’s proposal also explicitly opposes the integration of OP_CHECKDATASIG as contained in the Bitcoin ABC proposal. This change allows messages from outside the blockchain to be imported and verified – making Bitcoin Cash usable for a variety of tasks. For the Blockchain SV faction, that’s a sacrilege, because they do not want transactions on the Bitcoin Cash Network that are not money transfers.
To prevent any splitting, Andrew Stone, the lead developer of Bitcoin’s second most popular cash client, Bitcoin Unlimited, made a third proposal. This in turn contains all changes made by Bitcoin ABC and Bitcoin SV. Interestingly enough, while both sides consider their own proposal to be the only correct one, the protocol changes are not mutually exclusive.
Bitcoin ABC vs. Bitcoin SV: Who stands where in the Bitcoin cash dispute
Bitcoin ABC is supported by the trading platforms Binance and Coinbase. The Chinese company Bitmain, which is running two Bitcoin cash mining pools, also supports the proposal. Bitcoin SV is supported by the mining pools Coingeek and SV-Pool. The latter was founded by the initiator of the Bitcoin SV proposal.
By number of public nodes, the Bitcoin ABC proposal is ahead. Crucial, however, is the support of the miners, as they verify the Bitcoin cash transactions.
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