With bitcoin cash seeing an uptick in performance this past week, gaining almost 5.5 percent to exchange at around $816.54, it would have been easy to miss the internal debate currently going on regarding the Bitcoin Cash protocol.
Amaury Sechet issued a proposal release highlighting the probability of releasing a new protocol “pre-consensus” which has kickstarted a debate within the community.
Pre-consensus would offer participants more power within the platform, giving the option of deciding what future blocks should look like.
Writing in his most recent publication, Amaury Sechet claims that this proposal isn’t something he’s just thought up over the past week, and rather has been an idea he’s been championing for quite a while –
“Even before Bitcoin Cash was a thing, I was promoting the idea of pre-consensus — This refers to a set of technologies allowing network participants to agree as much as possible on what the next block is going to look like.”
The thought process behind this proposal is that the protocol will help to solve scalability issues and speed up the adoption within markets of Bitcoin Cash.
Support isn’t unanimous
Despite seeing a fair amount of support within the community, not everyone is entirely behind the idea, with CoinGeek founder Calvin Ayre commenting –
“CoinGeek believes in Bitcoin BCH and further believes it should fully restore the original Bitcoin protocol. It was unnecessary changes to BTC’s base protocol that forced the fork to Bitcoin Cash BCH, the only true Bitcoin. Now that we have Bitcoin Cash BCH, we should be focused on fully restoring it to the original Bitcoin protocol, rather than making additions or more changes that take BCH away from the original protocol.”
“Everything that needs to be done can be layered on top and retain the decade of proven security. I can assure the BCH community that our miners will never support anything that changes the battle-tested underlying original Bitcoin protocol with so many ways to do everything needed on top of this proven secure protocol. Many friends of mine in the Bitcoin BCH mining community are telling me they also support our position.”
Craig Wright, the Chief Scientist at NChain, is also against the Bitcoin Cash protocol proposal, and is one of the more vocal critics to hit out at it, making his views known in no uncertain terms –
“No hash goes to this crap — They want it, they fork it, without us,” “Without the apps using our code, our IP, etc. — Without the companies, we have invested in.”
While BCH is undoubtedly on the rise, and now ranks highly in a list of over 1500 cryptocurrencies, how this disagreement over Bitcoin Cash protocol plays out will be both interesting and instrumental to the future of the currency.
Lover of all things crypto, blockchain and AI, professional tech scribe & part of the editorial team at Crypto Disrupt.