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| Bitcoin Cash was born from [https://hackernoon.com/the-great-bitcoin-scaling-debate-a-timeline-6108081dbada a rift in the Bitcoin community] over how to scale the network. Those who believed that the Bitcoin [[block size]] should be increased split off to create Bitcoin Cash. Each [[block]] is 8MB instead of Bitcoin’s 1MB, so BCH can handle up to 60 [[Transaction (Tx)|transactions]] per second compared to BTC’s 7.
| | I'm a total Sonic the Hedgehog fan much like everyone else, I like the newer games, but I don't mind playing the classics. I don't think I've ever played glitchy or hacked games before, though I don't think I want to play any after the experience I had... |
| * [https://blockgeeks.com/guides/what-is-bitcoin-cash/ Here’s] a deeper explanation of the fork and why it occurred.
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| * Current issues:
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| Bitcoin Cash and its creators have been in an endless quest to prove the legitimacy of BCH over [[Bitcoin (BTC)|BTC]], which has resulted in them being involved in some potentially shady activity.
| | It started on a nice summer afternoon, I was playing Sonic Unleashed (I liked how you get to explore the towns in it) until I noticed, out of my peripheral vision, that the mailman had arrived and put something in my mailbox as usual and left. I paused my game to go see what I got in the mail... The only thing in the Mailbox was a CD case for computers and a note. I took it inside. |
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| The network appears to be far more [[centralised]] than Bitcoin, and infighting between the lead developers and marketers plagues the brand. BCH sees itself as the ‘true bitcoin’, but lags far behind the original in average users and [[transaction]] volume.
| | I looked at the note first and realized it was from my dear friend Kyle (Let's just call him that), whom I hadn't heard from in 2 weeks. I know that because I recognized his handwriting, though what was weird is how it looked; it looked badly written and scratchy and somewhat difficult to read, as if Kyle was having a hard time writing it down and did it in a hurry. |
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| * Sometimes BCC or XBC but BCH is the most known ticker.
| | This is what he wrote... |
| "''[[Viabtc]] is [https://news.bitcoin.com/a-short-history-of-the-worlds-largest-bitcoin-mining-pools/?utm_medium=notification&utm_campaign=Push%20Notifications famed] as a major supporter of bigger [[blocks]] and in 2016 [[mining|mined]] the first [[Bitcoin Unlimited]] block. It also proposed the name for [[Bitcoin Cash]]."''
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| == History ==
| | "Tom, |
| * Bitcoin Cash is a [[Hard Fork|hard fork]] created during the controversial scaling debate. It decided to tackle the scaling problem in a different and more immediate way to [[Bitcoin (BTC)|Bitcoin]] by increasing the size of its [[Block|blocks]] (the pages in the banking analogy) from 1MB to 8MB which doesn’t do anything to speed up transactions but reduces backlogs while retaining security. In order to adapt itself to the large change in computing power experienced over the first few weeks it implemented an emergency difficulty adjustment which allows it to change the block [[difficulty]] much more quickly than Bitcoin.
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| * At the “[[Future of Bitcoin]]” conference a developer named [[Amaury Séchet]] revealed the [[Bitcoin ABC]]” (Adjustable Blocksize Cap) project and told the audience about the upcoming [[UAHF]].
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| * Following Séchet’s announcement and after Bitcoin ABC’s first client release, the project “Bitcoin Cash” (BCC) was announced. Bitcoin Cash will be pretty much the same as BTC minus a few things, like the [[Segregated Witness]] (Segwit) implementation and the Replace-by-Fee (RBF) feature. According to BCC, a few of the biggest differences between BTC and BCC will be three new additions to the bitcoin codebase that include;
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| == Coin ==
| | I can't take it anymore, I had to get rid of this thing somehow before it was too late, and I was hoping you'd do it for me. I can't do it, he’s after me, and if you don't destroy this CD, he'll come after you too, he's too fast for me.... |
| ===Launch ===
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| === Coin allocation ===
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| * Has a similar setup as [[Bitcoin (BTC)|Bitcoin]] and generates tokens through [[Proof-of-Work (PoW)|PoW]] [[Block Reward|block rewards]].
| | Please Tom, destroy this god-forsaken disc before he comes after you too, it's too late for me. |
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| === Utility ===
| | Please Tom, destroy this god-forsaken disc before he comes after you too, it's too late for me. |
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| * Utility coin for payments and rewards for [[Miner|miners]].
| | Destroy the disc, and you'll destroy him, but do it quick otherwise he'll catch you. Don't even play the game, it's what he wants, just destroy it. |
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| === Coin Details ===
| | Please... |
| === Stablecoin ===
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| == Tech ==
| |
| * Code can be viewed [insert here].
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| * Programming language used:
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| * [[Consensus]]: [[Proof of Work]]
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| === Transaction Details ===
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| * Capacity ([[TPS]]):
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| * [[Latency]]:
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| === Other Details ===
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| * [[Block Size]] Limit Increase – Bitcoin Cash provides an immediate increase of the block size limit to 8MB.
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| * [[Replay Attack|Replay]] and Wipeout Protection – Should two chains persist, Bitcoin Cash minimizes user disruption, and permits safe and peaceful coexistence of the two chains, with replay and wipeout protection.
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| * New Transaction Type – As part of the replay protection technology, Bitcoin Cash introduces a new [[Transaction (Tx)|transaction]] type with additional benefits such as input value signing for improved [[Hardware Wallet|hardware wallet]] security, and elimination of the [[quadratic hashing problem]].
| | Kyle" |
| | Well, that was certainly weird. Even though Kyle IS my best friend and I haven't seen him in 2 weeks, I didn't do what he asked me. I didn't think that a simple gaming disc would do anything bad to him, after all it's just a game right? Boy, was I wrong about that... |
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| === DAA ===
| | ANY way, I looked at the disc and it looks like any ordinary computer CD-R disc, except it had black marker on it written "SONIC.EXE", and it was much unlike Kyle's handwriting, meaning that he must've gotten it from someone else, like a pawn shop or [[Ebay|eBay]]. When I saw "SONIC" on the writing of the CD, I was actually excited and wanted to play it, since I'm a a BIG Sonic fan. |
| * [https://coinspice.io/news/crypto-dev-digest-bch-difficulty-adjustment-algo-broken-zcash-devs-funded-coinjoin-scare/ From] [[CoinSpice]] (28-2-2020):
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| "''Developer and mining expert [[Jonathan Toomim]] took on the issue of BCH difficulty adjustment algorithm. He was careful to note not seeing “any evidence of DAA manipulation” by mining pools and the subject of oscillation as is often alleged. “All of the problems I see in BCH’s hashrate appear to be intrinsic to the DAA’s behavior with naive rational mining strategies. But yes, it should be addressed.'' | |
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| ''Toomim explained how the BCH DAA was a rush job late in 2017, only months after the [[fork]] from BTC, in an effort “to fix some extreme mining profitability and [[hashrate]] swings.” What the DAA solved it then created in “a new problem of hashrate echoes or oscillations. Those echoes have gotten much worse in recent months.”"''
| | I went up to my room and turned on my computer and put the disc in and installed the game. When the title screen popped up I noticed that it was the first Sonic game, I was like "Awesome!" Because like I said earlier I liked the classics. The first thing I noticed that was out of place was when I pressed start, there's was a split second when I saw the title image turned into something much different, something that I now consider horrifying, before cutting to black. |
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| === Avalanche ===
| | I remember what the image looked like in that split second before the game cut to black; The sky had darkened, the title emblem was rusted and ruined, the SEGA 1991 was now instead SEGA 666, and the water had turned red, like blood. |
| * The [[Avalanche (Consensus)|Avalanche]] pre-consensus has been [https://news.bitcoin.com/bch-avalanche-transactions-show-finality-speeds-10x-faster-than-ethereum/ applied] (10-2-2019) on [[BCHD]]. On the BCH chain, Avalanche is only being used for pre-consensus and runs parallel with the original [[proof-of-work]] [[consensus]] mechanism (On [[Avalanche (AVA)]] it is used in a [[PoS]] system).
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| === Instant transactions / double spend proofs ===
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| * Tom Zander [https://twitter.com/FloweeTheHub/status/1167897619558879238 revealed] (30-8-2019) the [[Double-Spend Proof (DSP)|double-spend proof (DSP)]] scheme for the BCH implementation [[Flowee the Hub]].
| |
| * F[https://news.bitcoin.com/new-storm-concept-could-strengthen-bitcoin-cash-instant-transactions/ rom this] (3-9-2019) [[Bitcoin.com]] article:
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| ''"Software developer [[Awemany]] has [https://www.reddit.com/r/btc/comments/cx08ux/storm_a_potential_alternative_approach_to_instant/ published] a potential alternative approach to instant [[transactions]] on the Bitcoin Cash network called “delta blocks” or [[Storm]]. Awemany’s paper notes that there are some similarities to his idea to [[Ethereum (ETH)|Ethereum’s]] ghost and uncle system. Storm is still far from being ready, the developer stressed, but he believes the code and simulation show the approach is “viable in principle for instant confirmations and that it is in some ways superior to discussed alternatives.”"''
| |
| == Privacy Method ==
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| * Has options of coin [[Mixers|mixing]].
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| == Oracle Method ==
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| == Their Other Projects ==
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| === Scripting ===
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| * Scripting is possible on BCH. Or as [[Rhett Creighton|Rhett]] [https://twitter.com/HeyRhett/status/1199399319243251718?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1199399319243251718&ref_url=https%3A%2F%2Fcoinspice.io%2Fnews%2Fcrypto-dev-digest-the-pirate-bay-shilled-hex-vpn-pia-acquired-by-kape-orchids-white-paper%2F put it] (26-11-2019):
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| "''With [[Bitbox|BITBOX]] and [[CashScript]], BitcoinCash FINALLY has the scripting environment on [[Bitcoin]] that I hoped for in Bitcoin since the beginning.''
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| ''For YEARS Bitcoin Scripting was blocked due to [[transaction Malleability|transaction malleability]] and [[Block Size]] issues.''
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| ''This is a HUGE DEAL most are overlooking."''
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| === Smartbch Sidechain ===
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| * From their [https://smartbch.org/ website] (-5-2021):
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| ''"[[Smart Bitcoin Cash]] (smartBCH for short) is a [[sidechain]] for Bitcoin Cash and has an aim to explore new ideas and unlock possibilities. It is compatible with [[Ethereum (ETH)|Ethereum]]'s [[Ethereum Virtual Machine (EVM)|EVM]] and Web3 [[API]] and provides high throughput for [[Decentralized Applications (DApps)|DApps]] in a fast, secure, and [[decentralized]] manner."''
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| === Smart Contracts Aspirations On-chain ===
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| * Is now also supporting [[tokens]] through the [[Simple Ledger Protocol (SLP)]].
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| * Is working on [[Smart Contract]] possibilities through [[Nimbus]].
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| * On if [[Maker]] would be possible on BCH. From [https://news.bitcoin.com/meet-nimbus-a-concept-for-enhancing-bch-smart-contracts/ this] [[Bitcoin.com]] article (2-12-2019):
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| ''“Building a [[decentralized]] [[stablecoin]] like protocol like [[Maker DAO]] on Bitcoin Cash would be very complicated but with the right tools and support it shouldn’t be much more difficult than building it on [[Ethereum]].” However, Ruck again underlines the need for a couple of changes to the Bitcoin Cash [[transaction]] format for the stablecoin [[smart contract]] concept to work on the BCH chain. The main changes would be [[Merkle Tree|merklized]] script trees, cashassembly, and a preamble. Additionally, Ruck says you could add fractional [[Satoshi|satoshis]] and a malleability fix as well as [[Schnorr signature]] functionality. The developer also researched a time estimation or how long it would take to implement a project like the Maker DAO on BCH. “The sum would be around 248 days and the total cost around $297,600,” the software engineer suggests."''
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| * From [https://kalis.me/smart-contracts-eth-btc-bch/ this article] (12-12-2019):
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| "''Early on in [[Bitcoin]], several opcodes were disabled due to issues that made them unsafe to use. Within the first year after the Bitcoin Cash fork, the developers of the Bitcoin-ABC [[node]] addressed these issues and [https://github.com/bitcoincashorg/bitcoincash.org/blob/master/spec/may-2018-reenabled-opcodes.md reintroduced] the opcodes with slightly amended functionality, shown in the image below. Most importantly, this update makes it possible to encode and decode structured data within Bitcoin Script, among other things.''
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| ''Half a year after this, another new opcode was released in the network upgrade of November 2018. The update included <code>OP_CHECKDATASIG</code>, which allows you to verify a [[signature]] for any message inside Bitcoin Script. If we combine the scripting updates that were introduced in 2018, these can be used to bring novel and useful smart contract functionality into Bitcoin Cash.''
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| ''The two big projects working on this right now are [[Spedn]], which was created by the pseudonymous [[Tendo Pein]], and CashScript, which was created by me and is syntactically inspired by Ethereum's [[Solidity]]. These tools make it much easier to work with smart contracts in Bitcoin Cash, although they are still in active development."''
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| === Governance ===
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| === Clients ===
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| * The BCH network has as of 1-2019 [https://news.bitcoin.com/new-full-node-client-bitcoin-verde-joins-the-bch-ecosystem/ nine different] [[full node]] [[clients]] to chose from. [[Bitprim]], [[Parity Bitcoin|Parity]], [[Bcash]], [[Copernicus]], [[Bitcoin Verde]], [[Flowee]] and [[BCHD]] are some of these.
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| * At the time [https://news.bitcoin.com/two-bch-devs-leave-bitcoin-unlimited-as-network-upgrade-approaches/ of writing] (3-2019), [[Bitcoin Unlimited|BU]] is the second most popular BCH [[node]] implementation capturing 44 percent of the 1,518 public nodes. [[Bitcoin ABC]] has about 54.4 percent of the public BCH nodes with 826 according to [[Coin Dance]] statistics. The smaller implementations [[BCHD|Bchd]], [[Flowee]], [[Bitprim]], and [[Bitcoin XT|XT]] have no more than 10 nodes per client. [https://twitter.com/BitcoinUnlimit/status/1221795053775065088?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1221795053775065088&ref_url=https%3A%2F%2Fcoinspice.io%2Fnews%2Fcrypto-dev-digest-bitcoin-cash-daa-gamed-again-plasma-postmortem-eos-dev-portal-live%2F Update]: as of 27-1-2020 BU has 51% an ABC 46%, however, the more important info is that all the other clients have still failed to capture any real stake.
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| == Upgrades and Forks ==
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| * A map of the main [[consensus]] [[forks]] (2009-2019) of [[Bitcoin]] can be [https://www.reddit.com/r/btc/comments/e1p3ki/a_map_of_the_main_consensus_forks_of_bitcoin/ found here] (11-2019).
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| * After splitting off from [[BTC]] on 2017-08-01 the BCH network had the following forks:
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| 2017-11-13: DAA Change (Hard Fork)
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| 2018-05-15: [[Monolith]] (Hard Fork) 32MB limit, old opcodes
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| 2018-11-15: [[Magnatix Anomaly]] (Hard Fork) OP_CHECKDATASIG, CTOR. This hard fork was contentious with a minority and created [[Bitcoin SV]] (to see the further hard forks on [[BSV]] check their page, or view [https://www.reddit.com/r/btc/comments/e1p3ki/a_map_of_the_main_consensus_forks_of_bitcoin/ this map].
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| 2019-05-15: Great Wall (Hard Fork) [[Schnorr Signature|Schnorr Signatures]]
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| 2019-05-15: [[Graviton]] (Hard Fork) Schnorr for [[multisig]]
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| * [https://news.bitcoin.com/bitcoin-cash-upgrade-complete-3-new-features-added-to-consensus-rules/ From] [[Bitcoin.com]] (15-5-2020):
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| ''The latest upgrade comes with new opcode support, a chain limit extension, and the improved counting of signature operations using the new “Sigchecks” implementation."''
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| * [https://decrypt.co/47667/bitcoin-cash-hard-fork-what-you-need-to-know From] [[Decrypt]] (9-11-2020):
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| "''Bitcoin Cash is set for a network upgrade on November 15, 2020. A [[BCHN]] version of the upgrade includes a novel and uncontroversial mining system. The [[Bitcoin ABC]] development team has proposed an alternative upgrade that also redirects 8% of mining rewards. So far, 82% of miners have reportedly expressed opposition to the ABC team’s proposal.''
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| ''According to Bitcoin Cash’s [https://www.bitcoincash.org/spec/2020-11-15-upgrade.html website], the network upgrade will make changes to the [[Difficulty Adjustment Algorithm (DAA)]], the Coinbase Rule, and Automatic [[Replay Protection]]. ''
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| ''First off, the DAA is going to be replaced, regardless of which version of the upgrade is concerned. A new algorithm—ASERT— is set to take its place. According to the upgrade’s [[GitHub]] page, the primary motivation for this replacement algorithm is to put an end to variations in Bitcoin Cash’s difficulty and [[hash rate]].''
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| ''In addition, the replacement algorithm seeks to equalize profit between steady miners, and miners that shift between different blockchains. This update will also aim to maintain [[block]] intervals to as close to 10 minutes as possible. Lastly, it is hoped that ASERT will also bring the average transaction confirmation time closer to target time. ''
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| ''The second part—only a feature of the ABC version of the upgrade—, the Coinbase Rule, is the cause of all the controversy (no relation to the exchange, “[[coinbase]]” refers to a specific part of a newly mined block). It will require 8% of all block rewards to be sent to a specific Bitcoin Cash [[address]]. One controlled by Bitcoin ABC developers, of course. ''
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| ''Lastly, the upgrade will include [[Replay Protection]]. This is designed to cause full validating nodes that do not upgrade to separate themselves from the main network after the next upgrade happens on 15 May, 2021. So, make sure not to get left behind."''
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| * From a [https://news.bitcoin.com/three-years-in-a-bitcoin-cash-update-from-one-of-its-founders/ blog post] by one of the [[Jonald Fyookball|founders]] who looks back on 3 years of BCH (8-12-2020):
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| "''CheckDataSig. A protocol change to allow external data signatures to be included in a [[transaction]]. This enables the operation of oracles, which have a multitude of use cases, along with other possibilities.''
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| ''Covenants. A technical innovation that allows Bitcoin script to apply constraints on what the outputs can do. This allows smart contracts like AnyHedge and the Mecenas Last Will.''
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| ''High level programming languages like Spedn and Cashscript are now available, empowering developers to pursue permissionless innovation.''
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| ''ASSERT DAA. This [[difficulty]] adjustment algorithm keeps block times stable and minimizes oscillations in the multichain SHA-256 ecosystem.''
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| ''Token Extensions – Beyond the rich [[SLP]] ecosystem, further innovations keep happening. For example, a dividend tool that allows you to pay token holders. Imagine the possibilities. A “post office” protocol that allows you to send and receive tokens without any BCH “[[gas]]” for fees. [[Atomic swaps]] for tokens. Mineable tokens."''
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| === SegWit Hard Forks ===
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| * BCH does not have [[SegWit]], however some users mistakenly send BCH to SegWit [[addresses]]. Over time, [https://coinmetrics.substack.com/p/coin-metrics-state-of-the-network-536 more than] (25-2-2020) 19,000 BCH have been sent to nested SegWit addresses. From Coin Metrics #39 (25-2-2020):
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| "''Two BCH [[hard forks]] are relevant for SegWit recoveries:''
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| ''On November 15th 2018, SegWit recovery transactions were made completely invalid by a new “cleanstack” [https://github.com/bitcoincashorg/bitcoincash.org/blob/master/spec/2018-nov-upgrade.md#clean-stack consensus rule change]''
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| ''On May 15th 2019 (the following hard fork), [https://github.com/bitcoincashorg/bitcoincash.org/blob/master/spec/2019-05-15-upgrade.md#allow-segwit-recovery this new consensus rule] was partially rolled back to only allow SegWit recovery-like transactions.''
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| ''As [https://blog.bitmex.com/the-bitcoin-cash-hardfork-three-interrelated-incidents/ analyzed] by [[BitMEX]] research, several issues compounded after the hard fork which caused various chain splits. One of these issues made miners produce empty blocks. Right after this bug was fixed, the “fake unknown” miner claimed the nested SegWit BCH bounty for himself. The “fake unknown” block claiming the mistakenly lost BCH was indeed [[Orphan Block|orphaned]] by other miners.''
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| ''[[Mining pools]] orphaning an otherwise valid block on purpose is a very rare event. The fact that it happened to avoid many innocent users losing access to their lost BCH makes it unique.''
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| ''Publicly identified miners are a paragon of virtue, returning the majority of the BCH they recovered to their rightful owners. However, the fate of half of the lost coins is still undetermined.''
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| ''They have been “recovered” in blocks that haven’t been associated with any known pool. This “unknown” mining entity has been diligently recovering most of the lost BCH (except for the post-May 15th bounty) since mid-2018."''
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| == Roadmap ==
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| * Can be found [Insert link here].
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| * Every six months, the Bitcoin Cash network upgrades, and they usually take place on May 15, and November 15 every year.
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| * [https://news.bitcoin.com/bitcoin-cash-upgrade-complete-3-new-features-added-to-consensus-rules/ From] [[Bitcoin.com]] (15-5-2020):
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| ''"Supporters are discussing future improvements like [[Avalanche (Consensus)|Avalanche]], [[UTXO]] commitments, Re-activating the following opcodes; OP_Mul, OP_Lshift, OP_Rshift, and OP_Invert, and concepts like Bobtail."''
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| == Audits ==
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| * [[Bug bounty]] program can be found [insert here].
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| === Bugs ===
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| == Usage ==
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| === Projects that use or built on it ===
| |
| * From a [https://news.bitcoin.com/three-years-in-a-bitcoin-cash-update-from-one-of-its-founders/ blog post] by one of the [[Jonald Fyookball|founders]] who looks back on 3 years of BCH (8-12-2020):
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| ''"[[CashFusion]]. The most advanced [[coinjoin]] protocol ever developed. Providing both privacy and fungibility, CashFusion is a fully decentralized and [[trustless]] protocol that operates at the wallet layer. By leaving the base protocol untouched, it also avoids certain regulatory risks.''
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| ''Simple Ledger Tokens. An entire token system exists on Bitcoin Cash. From stable coins ([[Tether]], [[USHC]]), to social tokens (spice), [[NFTs]], and much much more.''
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| ''The [[Anyhedge Protocol|AnyHedge]] [https://anyhedge.com/ protocol] allows [[synthetic]] [[derivatives]] and gives the ability to create new markets so users can instantly take a position on any asset with a price. We’ve leveraged the power of [[smart contracts]] on Bitcoin Cash to usher in a new era of trustless and [[non-custodial]] trading."''
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| * [[Detoken]], is an implementation of the Anyhedge.
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| *Onlycoins; BCH version of Onlyfans ([https://news.bitcoin.com/bitcoin-cash-powered-onlycoins-aims-to-compete-with-the-popular-content-platform-onlyfans/ 27-3-2021]).
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| == Pros and Cons ==
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| === Pros ===
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| === Cons ===
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| == Competition ==
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| * [[Bitcoin]], [[BCHA]] and other digital cash blockchains.
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| == The Infrastructure Funding Plan for Bitcoin Cash (IFP) ==
| |
| * On 22-1-2020 an Infrastructure Funding Proposal was [https://medium.com/@jiangzhuoer/infrastructure-funding-plan-for-bitcoin-cash-131fdcd2412e announced] by [[Jiang Zhuoer]], with backing of [[Antpool]], [[ViaBTC]], [[Bitcoin.com]]. This proposal sparked heavy debate in the BCH community and a cascade of suggestions and critique on how the fund should look like followed. A timeline of the events (as of 5-3-2020) [https://coinspice.io/news/more-miners-voice-skepticism-at-bitcoin-cash-infrastructure-fund-proposals/ from] [[CoinSpice]] is as follows:
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| * 01222020 [https://coinspice.io/news/bitcoin-cash-mining-pools-to-implement-infrastructure-fund-12-5-of-bch-coinbase-rewards/ Infrastructure Funding Proposal]
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| * 01222020 [https://coinspice.io/news/bitcoin-cash-developers-react-to-infrastructure-fund-announcement-cautiously-optimistic/ BCH devs react]
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| * 01232020 [https://coinspice.io/news/critical-details-emerge-in-proposed-bitcoin-cash-infrastructure-coinbase-reward-funding-plan/ Jiang Zhuoer AMA]
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| * 01232020 [[Amaury Séchet]] [https://coinspice.io/news/lead-dev-amaury-sechet-on-bitcoin-cash-12-5-coinbase-fund-sound-game-theory-not-a-tax/ addendum to IFP]
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| * 01242020 [[Bitcoin.com]] [https://coinspice.io/news/roger-ver-praises-vigorous-debate-fyookball-clarifies-support-as-bch-dev-fund-proposal-reaction-heats-up/ releases statement in support of IFP]
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| * 01242020 [[Jonald Fyookball]]’s [https://coinspice.io/news/roger-ver-praises-vigorous-debate-fyookball-clarifies-support-as-bch-dev-fund-proposal-reaction-heats-up/ position on the IFP]
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| * 01252020 [[Justin Bons]], [[Tobias Ruck]] [https://coinspice.io/news/crypto-dev-digest-bch-infrastructure-funding-alternative-new-cashshuffle-build-og-reemerges/ suggest voting on IFP]
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| * 01252020 [[Antony Zegers]] [https://coinspice.io/news/crypto-dev-digest-bch-infrastructure-funding-alternative-new-cashshuffle-build-og-reemerges/ support of IFP]
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| * 01262020 [https://coinspice.io/news/bitcoin-cash-leads-all-top-ten-coins-by-market-cap-in-24-hour-trading-after-major-announcements/ Early market reaction to IFP]
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| * 01262020 Anon dev [[imaginary_username]]’s [https://coinspice.io/news/blogger-earns-1000-in-bch-for-just-one-post-meet-the-anonymous-creator-of-read-cash/ reaction to IFP]
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| * 01262020 [[Peter Rizun]]’s [https://coinspice.io/news/bus-chief-scientist-blasts-bch-dev-funding-proposal-sickening-indistinguishable-from-a-scam/ reaction to IFP]
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| * 01272020 [https://coinspice.io/news/north-american-european-bitcoin-cash-miner-group-forms-to-oppose-12-5-dev-funding-plan/ Opposing Miners Group]
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| * 01272020 [https://bitco.in/forum/threads/buip143-refuse-the-coinbase-tax.25512/ BUIP143: Refuse the] [[Coinbase]] Tax
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| * 01282020 [[Bitcoin Verde]]’s [https://read.cash/@joshmgreen/bitcoin-verdes-response-to-the-miner-sponsored-development-fund-34028b1e reaction to IFP]
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| * 01282020 [https://coinspice.io/news/influential-bch-mining-pool-bitcoin-com-drops-support-for-12-5-developer-fund-proposal/ Bitcoin.com drops support for IFP]
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| * 01282020 [[BCHD]]’s [https://read.cash/@cpacia/the-253rd-thoughts-on-developer-funding-article-87b4d8e2 reaction] to IFP
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| * 02312020 [[Jiang Zhuoer|Zhuoer’s]] [https://read.cash/@Jiang_Zhuoer_BTC.TOP_CEO/bch-miner-donation-plan-update-0cf20809 BCH Miner Donation Plan Update]
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| * 02032020 [https://coinspice.io/ifp/bitcoin-cash-infrastructure-debate-catches-eye-of-ethereums-vitalik-buterin-zcashs-zooko/ Ethereum’s Vitalik Buterin, Zcash’s Zooko Wilcox-O’Hearn react to IFP]
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| * 02072020 [https://coinspice.io/news/more-miners-voice-skepticism-at-bitcoin-cash-infrastructure-fund-proposals/ More Miners Voice Skepticism at Bitcoin Cash Infrastructure Fund Proposals]
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| * 02102020 [https://coinspice.io/op-ed/giving-bitcoin-cash-a-fighting-chance/ Giving Bitcoin Cash a Fighting Chance]
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| * 02102020 [https://coinspice.io/news/podcast-imaginary_username-speaks-hes-working-to-build-a-developer-funding-alternative/ imaginary_username Speaks: He’s Working to Build a Developer Funding Alternative]
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| * 02122020 [https://coinspice.io/news/podcast-lockdown-from-mainland-china-bitcoiner-talks-coronavirus-and-fallout-for-crypto/ Lockdown: From Mainland China, Bitcoiner Talks Coronavirus and Fallout for Crypto]
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| * 02152020 [https://coinspice.io/news/tron-pompliano-dollar/ Flipstarter: BCH Voluntary Commons Funding]
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| * 02152020 [https://coinspice.io/news/bitcoin-abc-will-implement-bitcoin-cash-infrastructure-fund-of-5-during-may-15-2020-upgrade/ Bitcoin ABC Will Implement Bitcoin Cash Infrastructure Fund of 5% During May 15, 2020 Upgrade]
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| * 02162020 [https://coinspice.io/news/roger-ver-on-bitcoin-cash-infrastructure-fund-update-too-controversial-not-worth-it-at-this-point/ Roger Ver on Bitcoin Cash Infrastructure Fund Update: Too Controversial, Not Worth it at This Point]
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| * 02162020 [https://coinspice.io/news/bitcoin-cash-infrastructure-funding-update-btc-top-founder-proposes-2-3-hash-voting-threshold/ Bitcoin Cash Infrastructure Funding Update: BTC.TOP Founder Proposes 2/3 Hash Voting Threshold]
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| * 02172020 [https://coinspice.io/ifp/bitcoin-cash-ifp-author-influential-mining-ceo-to-chinese-bitcoiners-decentralization-is-key/ Bitcoin Cash IFP Author, Influential Mining CEO to Chinese Bitcoiners: Decentralization is Key]
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| * 02192020 [https://coinspice.io/news/two-notable-bitcoin-cash-developers-announce-opposition-to-the-ifp/ Two Notable Bitcoin Cash Developers Announce Opposition to the IFP]
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| * 02202020 [https://coinspice.io/news/bitcoin-cash-developers-fork-abc-reference-implementation-client-create-bch-node/ Bitcoin Cash Developers Fork ABC Reference Implementation Client, Create “BCH Node”]
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| * 02212020 [https://coinspice.io/ifp/first-bitcoin-cash-developer-meeting-after-ifp-proposal-amaury-sechet-explains-position-status/ First Bitcoin Cash Developer Meeting After IFP Proposal]
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| * 02272020 [https://coinspice.io/news/bitcoin-cash-node-v0-21-0-formally-released-as-drop-in-replacement-for-running-abc-client/ Bitcoin Cash Node v0.21.0 Formally Released]
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| * 03012020 [https://coinspice.io/news/podcast-wrapping-our-heads-around-the-infrastructure-funding-plan-for-bitcoin-cash/ Wrapping Our Heads Around the Infrastructure Funding Plan for Bitcoin Cash]
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| * 03032020 [https://coinspice.io/news/bitcoin-cash-node-team-releases-general-roadmap-through-november-ama-disclosures-research/ Bitcoin Cash Node Team Releases General Roadmap Through November]
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| * 03042020 [https://coinspice.io/news/author-of-the-bitcoin-cash-ifp-vows-to-vote-against-it-using-personal-hash-in-opposition/ Author of the Bitcoin Cash IFP Vows to Vote Against It, Using Personal Hash in Opposition]
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| * 03242020 [https://coinspice.io/news/brain-drain-bitcoin-cash-dev-leaves-for-ava-and-has-choice-words-for-community/ Brain Drain: BCH Dev Leaves for AVA and Has Choice Words for Community]
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| * 04012020 [https://coinspice.io/news/bitcoin-abc-launches-3-3-million-fundraiser-business-plan-detailed-budget-deliverables/ Bitcoin ABC Launches $3.3 Million Fundraiser]
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| * 04162020 [https://coinspice.io/news/trustless-non-custodial-assurance-contract-platform-flipstarter-launches-five-node-campaigns/ Trustless, Non-custodial Assurance Contract Platform Flipstarter Launches Five Node Campaigns]
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| * 04252020 [https://coinspice.io/news/podcast-bitcoin-cash-reference-client-looks-to-raise-sustainable-funding/ PODCAST Bitcoin Cash Reference Client Looks to Raise Sustainable Funding]
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| * 04262020 [https://coinspice.io/news/bitcoin-cash-node-flipstarter/ Bitcoin Cash Node is First to be Fully Funded on Flipstarter; $372,000 Pledged Across 5 Campaigns]
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| * 05092020 [https://coinspice.io/amaurysechet/podcast-amaury-sechet-may-2020-upgrade-part-2-the-ifp-and-why-it-remains-in-the-code/ PODCAST Amaury Séchet, May 2020 Upgrade Part 2: The IFP and Why it Remains in the Code]
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| * 05142020 [https://coinspice.io/news/btc-top-coinex-ceos-join-bch-community-during-3-5-hour-pre-upgrade-ama-livestream/ BTC TOP & CoinEx CEOs Join BCH Community During 3.5 Hour Pre-Upgrade AMA Livestream]
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| * 05152020 [https://coinspice.io/ifp/bitcoin-cash-may-2020-upgrade/ Bitcoin Cash May 2020 Upgrade Completed: Controversial Funding Plan Rejected by Miners]
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| * 05172020 [https://coinspice.io/ifp/with-ifp-defeated-bitcoin-abc-viabtc-coinex-ceo-publicly-consider-a-bitcoin-cash-foundation/ Bitcoin ABC, ViaBTC & CoinEX CEO Publicly Consider a Bitcoin Cash Foundation]
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| * [https://news.bitcoin.com/prepping-for-an-airdrop-prominent-bch-community-members-bid-bitcoin-abc-devs-farewell/ From] Bitcoin.com (2-9-2020):
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| "''On August 18, 2020, the [[Bitcoin ABC]] development team announced a “feature freeze,” which will include a new Infrastructure Funding Plan (IFP) and a week later explained it was also initiating a “governance council.” Despite the recent announcements, Bitcoin ABC has lost considerable support and it appears the project will separate from Bitcoin Cash come November 15. During the last few weeks, there’s been a lot of contention among the Bitcoin Cash (BCH) community. The controversy really heated up after the Bitcoin ABC development team decided to adopt [[Jonathan Toomim]]’s ASERT [[Difficulty Adjustment Algorithm (DAA)]], but also [https://twitter.com/Bitcoin_ABC/status/1295796828324024320 included] the controversial Infrastructure Funding Proposal (IFP) coinbase rule as well. If the rule was to be applied, approximately 8% of the [[coinbase]] reward would be set aside for infrastructure development.''
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| ''However, an overwhelming share of the Bitcoin Cash (BCH) community does not support the IFP integration into the Bitcoin Cash codebase. A great number of big players, early adopters, developers, [[full node]] projects, businesses, [[miners]], and crypto executives have all been very outspoken against the IFP addition.''
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| ''Those who are against Bitcoin ABC’s current direction include a myriad of engineers from full node projects like [[BCHN]], [[Knuth]], [[Bitcoin Unlimited]], [[Flowee]], [[Bitcoin Verde]], [[Bitcoincashj]], and [[BCHD]]. Roughly [https://cash.coin.dance/blocks 50.9% of the last 1,000 blocks] have been signaling BCHN and zero blocks so far have been signaling for Bitcoin ABC. ''
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| ''With Bitcoin ABC splitting away from the BCH community and greater ecosystem in general, exchanges will have to decide whether or not the trading platform will support ABC Coin. Furthermore, the team’s former finance manager [[George Donnelly]] has also left Bitcoin ABC and has [https://read.cash/@georgedonnelly/amaury-sechet-is-forking-bitcoin-abc-away-from-bitcoin-cash-8734adc1 written] extensively about how “[[Amaury Séchet]] is [[forking]] Bitcoin ABC away from Bitcoin Cash.”"''
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| * The whole debacle [https://cryptobriefing.com/forked-bitcoin-cash-chain-under-dos-attack/ ended] with [[Bitcoin ABC]] being [[forked]] off on 15-11-2020.
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| == Coin Distribution ==
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| * [https://coinmetrics.substack.com/p/coin-metrics-state-of-the-network-2d3 From] [[Coin Metrics]] #38 (18-2-2020):
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| ''"Bitcoin [[forks]] inherit BTC’s supply distribution (at the time of forking), so may appear distributed simply because BTC itself is relatively distributed. But unlike BTC, Bitcoin Cash (BCH) supply held by large [[addresses]] has gotten more concentrated over time.''
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| ''In August 2017, when it forked from BTC, about 14% of BCH supply was held by large addresses with balances of at least 1/1K of total supply. As of February 2020, large addresses hold about 29% of BCH, compared to about 11% for BTC."''
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| * [https://cointelegraph.com/news/one-third-of-bitcoin-cashs-supply-has-never-been-touched From] [[Cointelegraph]] (7-4-2020):
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| ''"On April 6, [[Coinmetrics]] [https://twitter.com/coinmetrics/status/1247210795949228032 published] data indicating that 6 million BCH has not moved since the blockchain forked off from Bitcoin on Aug.1, 2017. With nearly 18.4 million BCH in circulation, 32.6% of existing coins are either lost or being held for the long-term."''
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| * From a [[twitter]] [https://twitter.com/AdamScochran/status/1255332313241706498 thread] by [[Adam Cochran]] (29-4-2020): In BCH 1100 addresses hold 56.8% of BCH
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| == Devs, partnerships, teams, etc. ==
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| * Bitcoin Cash has support from various members of the cryptocurrency industry including [[Miner|miners]], like [[Bitmain]], exchanges, and clients like [[Bitcoin ABC]], [[Bitcoin Unlimited|Unlimited]], and [[Bitcoin Classic|Classic]] will also be assisting the project. [[Roger Ver]] is also a well known advocate for the project.
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| === Known Developers ===
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| * [[Andrea Suisani]], dev
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| * [[Amaury Séchet]], dev [[Bitcoin ABC]] (left after the [[fork]])
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| * [[Chris Pacia]], dev [[BCHD]]
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| * [[Mark Lundeberg]], Independent BCH Developer
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| * [[Jason Cox]], dev Bitcoin ABC
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| * [[Antony Zegers]], dev Bitcoin ABC and helps with coordinating the BCH protocol.
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| * [[Gabriel Cardona]]; BCH developer and [[Bitbox]] founder (left towards [[AVA Labs|AVAX]])
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| * [[Tyler Smith]]; BCHD
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| === BCH Latam ===
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| * The old CEO of the [[Dash]] Latam, [[George Donnelly]], [https://coinspice.io/news/george-donnelly-dash-bch/ claimed in an interview] (10-11-2019) he would take the Dash Latam team away from Dash and focus on BCH now with his new project called [http://prosuni.com/ Prosuni]. This break brought quite some [https://www.reddit.com/r/btc/comments/due3rf/dash_latin_america_adoption_leader_leaves_in/ heated discussions] on the surface, most claiming George didn't do what he claimed he did, and that [https://tracker.pagacondash.com/ his results] were sub-par. Update (7-2-2020): Donnelly has now [https://coinspice.io/news/george-donnelly-bchlatam/ launched] [http://bchlatam.com/crowdfunding2020/ BCH Latam].
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| * Soon after they launched their own [[SLP]] token; the PAN token. They [https://coinspice.io/news/hester-peirce-buterin-coronavirus/ sold] (7-2-2020) 1700 of the 180000 tokens in the first 2 days.
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| ''"[The token is there] to fund the execution of its ambitious project of spreading BCH awareness through Latin America. The proposal includes development of the Panmoni app, a comprehensive ecosystem. It will include the function of sending remittances and also a rewards program for cryptocurrency enthusiasts who onboard businesses and promote adoption in other ways."''
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| * More info on PAN was given in a [[Bitcoin.com]] [https://news.bitcoin.com/bitcoin-cash-george-donnelly-bch-latam/ interview] (15-2-2020):
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| ''"PAN is an SLP token with a fixed 400,000 token supply that we are selling in order to finance our profit-seeking BCH remittances business plan. We have sold about 1% of the 180,000 currently for sale. We aim to give our PAN token real-world utility by having our merchants accept it for goods and services and by making it the currency of our gamified adoption app. We’ve apportioned up to 45% of the total supply to finance 15 to 18 months of runway for our BCH remittances startup Panmoni, 25% for the team and 30% for the gamified adoption app or possibly a second financing round. Full details are [http://bchlatam.com/crowdfunding2020/ available here]."''
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| == Funding ==
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| * Is one of the investments chosen by [[Grayscale]], owned by [[DCG]] (Grayscale also owns 1% of the [[BTC]] supply)
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| * [[Bitmain]] funds some development ([[Bitcoin ABC]]) for BCH
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| * [[Bitcoin.com]] markets it heavily. [[Roger Ver]] [https://www.reddit.com/r/btc/comments/dysr4y/breaking_news_roger_ver_announces_200_million/ announced] (20-11-2019) a $200M BCH Ecosystem Fund. The fund will invest in and incubate businesses like payment gateways, processors remittances, [[wallet]] and merchant acquirers.[[Category:Coins/Tokens]]
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| == (: ==
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| Knowledge empowers us all and will help us get closer to the [[decentralised]] world we all want to live in!
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| Making these free wiki pages is fun but takes a lot of effort and time.
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| If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.
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| BCH tip [[address]]: bitcoincash:qq3d0kj7qmewvysr7aq0x3mw5yrvfyqzy508u472zh
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