The reasons for the fork date back at least a couple of weeks ago when Amaury Séchet decided to publish a post about the future of this blockchain and proposing some changes to the protocol, such as:
– The adjustment of the difficulty of the algorithm, aserti3-2d (ASERT) algorithm proposed by Jonathan Toomin and Mark Lundeberg;
– A new rule for Coinbase.
And it is precisely on the Coinbase that is based on the willingness to proceed with a fork because according to Amaury it would be essential that the development of a blockchain is also determined by the developers, but that they must be rewarded in some way so that they can run the network without problems.
In fact, with the fork that will take place between Bitcoin Cash and Bitcoin ABC, will be applied a new fee of 8% on new coins that will go in address for developers. Basically they will be paid to allow the community of the blockchain to move forward with development and know that however there will be a reward with their work.
The decision has therefore been made and is not changeable since the software to implement these functions has already been written and, as mentioned, will be activated next November 15, effectively creating a new fork of Bitcoin Cash (BCH).
Remember that previously a similar plan to finance the protocol had failed and last April a plan to finance the Bitcoin ABC project was announced.
Revolut supports Bitcoin Cash
Revolut has recently decided to Cryptosoft support new assets, namely Bitcoin Cash (BCH) but also Litecoin (LTC) and this will allow users to use these assets from the application.
The two crypto community, in fact, had expressed this desire to Revolut and in just 4 weeks the team has satisfied the request, as explained by the head of crypto of Revolut, Edward Cooper:
“At Revolut we pride ourselves in being a customer-obsessed brand. Since we launched our crypto offering in the States, we had swarms of customers requesting that we add Bitcoin Cash and Litecoin to the product. So, we took notice, got straight to work, and were able to deliver in just four weeks.”