After months of mounting tensions between rival Bitcoin Cash Node implementations, BCH’s future appears to be firmly in the hands of Bitcoin Cash Node.
According to Coin Dance, more than 75% of us signaled in favor of BCHN last week, while a meager 1% showed support for ABC. The race is just over ten days away.
The BCHN nodes extracted 84.7% of the Bitcoin Cash blocks produced in the last 24 hours, compared to just 1.4% of the ABC.
BCHN emerged in response to ABC’s announcement that it would introduce a new “currency-based rule”, diverting 8% of the bloc’s rewards to a development fund controlled by ABC’s leading developer, Amaury Sechet, along with changes in BCH’s difficulty algorithm, the scheduled Bitcoin Cash update in November. 15
Proponents of BCHN insist that the coinbase rule is not necessary, claiming that they can finance development through voluntary community support.
Although Sechet has threatened that “the BCHN chain will be eliminated” if the ABC chain becomes longer than the BCHN chain after the chain split, the current BCHN domain suggests that the rival implementation will emerge dominant on November 15 – representing a uncertain future for ABC.
In a November 3 announcement addressing bifurcation, the leading cryptocurrency exchange, Binance, announced that, if current signaling trends continue, “Binance will treat the BCHN chain as the future BCH chain”.
The exchange noted that it will distribute coins on a 1: 1 basis if a rival chain is created.
Amaury Sechet is the only leading Bitcoin ABC developer since Bitcoin Cash deviated from Bitcoin on August 1, 2017.
Although Sechet was initially supported by major BCH proponents, including Roger Ver , growing tensions between the developer and his sponsors resulted in their support being withdrawn – which led to Sechet’s move to introduce the money base rule.