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Bitcoin ABC, the historically dominant implementation of Bitcoin Cash (BCH), appears on the verge of giving way to a community-led mutiny in the form of the Bitcoin Cash Node (BCHN).
According to Coin Dance, over 75% of nodes have come out in favor of BCHN in the past week, while a meager 1% have shown support for ABC. There are just over ten days to go until the race.
BCHN nodes mined 84.7% of the Bitcoin Cash blocks produced in the past 24 hours, compared to just 1.4% for ABC.
BCHN emerged in response to ABC’s announcement that it would introduce a new “coinbase rule” that diverts 8% of block rewards to a development fund controlled by ABC lead developer Amaury Sechet, along with algorithm changes. BCH struggles with the Bitcoin Cash scheduled update on November 15th.
BCHN supporters insist the coinbase rule is unnecessary, arguing that they can finance development through voluntary community support.
While Sechet has threatened that “the BCHN chain will be wiped out” should the ABC chain become longer than the BCHN chain after the chain is split, BCHN’s current dominance suggests that the rival implementation will emerge dominant on November 15, placing a uncertain future for ABC.
In a November 3 announcement regarding the fork, Binance, the leading cryptocurrency exchange, announced that if current reporting 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 has been the only major developer of Bitcoin ABC since Bitcoin Cash split from Bitcoin on August 1, 2017.
Although Sechet was initially supported by major BCH supporters, including Roger Ver, growing tensions between the developer and his supporters led them to withdraw support, prompting Sechet to introduce the coinbase rule.
