Here is what you need to prepare.
The Bitcoin Cash Network is undergoing a network upgrade on 15 November 2020. Due to one of the seven Bitcoin Cash BCH full node software projects attempting to divert 8% of the coinbase reward into a wallet under the control of one Amaury Séchet, Lead Developer of Bitcoin ABC and owner of BitcoinCash.org, the situation is complex. It is recommended that miners, exchanges and others keep tabs on the situation.
Here’s what you need to prepare.
New Feature: ASERT DAA
The Bitcoin Cash Network Upgrade of 15 November 2020 includes a new consensus rule change that is the ASERT Difficulty Adjustment Algorithm (DAA). This new DAA means more regular block times for Bitcoin Cash and eliminates “turbo blocks”.
Currently, due to switch mining, Bitcoin Cash blocks are not always found steadily every 10 minutes. Instead, we sometimes see “turbo blocks”, i.e., several blocks found within less than 10 minutes, one or more of which are often empty. “Turbo blocks” create irregularity for the end user at the moment of being able to predict when a transaction will receive its first network confirmation, and as such are not desirable.
Learn more about the ASERT DAA, which is being added to Bitcoin Cash thanks to the work of developers Mark Lundeberg and Jonathan Toomim, as well as the collaborative approach of other developers and Bitcoin Cash full node software projects.
- BCH upgrade proposal: Use ASERT as the new DAA by Jonathan Toomim
- Static difficulty adjustments, with absolutely scheduled exponentially rising targets (DA-ASERT) — v.2 by Mark Lundeberg
How to Prepare
Users are advised to hold onto their keys at all times. Not your keys, not your coins.
Be sure to upgrade your wallet(s) to the latest versions. If in doubt, please ask your wallet provide if they have upgraded for the new Bitcoin Cash DAA.
Given the possibility of a minority fork of the Bitcoin ABC full node software, users are advised to stand by for instructions on how to fork any ABC coins that may come into existence. Don’t count on exchanges to fork your coins as widespread exchange support for the potential ABC coin is not guaranteed.
The ASERT DAA is a hard fork consensus change. It is REQUIRED that you update your full node software in order to remain on the Bitcoin Cash chain on 15 November 2020.
Bitcoin Cash Node (BCHN) 22.x is tested, ready and recommended for use. Download it from the Bitcoin Cash Node Download page. A majority of Bitcoin Cash blocks are being produced with the BCHN full node software now.
Other compatible implementations include:
All wallet maintainers are encouraged to verify the compatibility of their software with the new ASERT DAA.
Technical support is available for Bitcoin Cash users, developers and businesses. Here are some support options:
- Telegram: BitcoinCashNode
- Telegram: BitcoinCashSupport
Network Split Outlook
At this time, only a minority fork, or split, seems indicated by the levels of support for Bitcoin ABC available to the public.
Therefore, if there is a fork, it currently appears that it will largely be inconsequential and will not affect your use of the Bitcoin Cash network in any significant manner.
Neither the Bitcoin ABC nor the Bitcoin Cash Node clients are implementing replay protection at this time and therefore there is some uncertainty about if any Bitcoin ABC blocks will be produced or mixed with non-IFP blocks. Because hashrate for Bitcoin ABC appears to be very low, perhaps nonexistent, it is unlikely that many blocks with the 8% coinbase rule will be produced.
Follow @BitcoinCashSite on Twitter for frequent updates on the situation.
Network Split Background
The potential network split was instigated by the Bitcoin ABC full node team’s lead developer Amaury Séchet on 6 Aug 2020 when he announced that the Bitcoin ABC software would include a coinbase rule taking 8% of the coinbase reward from every Bitcoin Cash block and diverting it to an address under his control.
Almost all of the Bitcoin Cash ecosystem has declared their firm opposition to Séchet’s plans. This includes a very large percentage of the people building on Bitcoin Cash and around 82% or more of hashrate.
All stakeholders are expressing overwhelming support for Bitcoin Cash to continue the same protocol miners and exchanges have always known, and to remain a decentralized ecosystem, rather than a cartel as Séchet proposes.
Get a fuller background by reading the following articles.
- Amaury Séchet is forking Bitcoin ABC from Bitcoin Cash
- Bitcoin.com Recommended Node Implementation for Bitcoin Cash prior to November 15th, 2020
- Bitcoin Cash (BCH) November 2020 Upgrade statement
- Joint Statement On aserti3-2d Algorithm
- Roger Ver: Bitcoin Cash was going GREAT until this IFP nonsense.
- IFP as an attack vector by Karol Trzeszczkowski, BCH developer
- General Protocols policy regarding software and services after Nov 15 BCH upgrade
- r/btc: Let’s have a show of hands – Who supports the IFP (dev-tax)?
- What Bitcoin Cash Developers are Building Right Now: (Unofficial) Bitcoin Cash BCH 2021 Roadmaps
To get updates on the split situation, you can use one of the following options:
- Follow @BitcoinCashSite on Twitter
- Get updates on Telegram @BitcoinCashSite
- Get updates via email by subscribing here
Here is a short presentation on the state of Bitcoin Cash in Q4 2020
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