BitcoinABC will fork away from BCH and new coins will be airdropped to BCH holders for free

BitcoinABC and Deadalnix (ABC lead developer Amaury Sechet) will fork away from BCH on November 15th.

It is reported that the BitcoinABC team plans to introduce the IFPCoinbase rule in the BCH November upgrade, that is, to give 8% of the block rewards to ABC-related addresses to support team development. However, this matter continues to cause controversy in the community and is opposed by most development teams such as BCHN. Some BCH community members have even published articles hoping that ABC's chief developer Amaury will step down.

Bitcoin ABC lead developer Amuary Sechet said the new upgrade is partly to provide critical development funding to enable Bitcoin Cash to compete with Bitcoin and Ethereum. The update will introduce a new difficulty adjustment algorithm, ASERT, in response to extended block times, as well as a controversial feature that will reject all newly mined blocks if 8% of the rewards are not transferred to a wallet designated to fund the continued development of the ABC protocol, known as the "coinbase rule."

Sechet predicted that without the coinbase rule, BCH's future will "slowly become irrelevant," but he said the disagreements in the community go far beyond this one issue. While some have attributed BCH's tensions to the coinbase rule, "even a month ago, it was just a matter of adjusting the difficulty...the details are not very relevant. The split first happened at the community level, and then reasons were found to continue the split." He added, "I don't think anything can be done to reunite the community at this time." In addition, BCHN supporter NilacTheGrim recently issued a call for Amaury to step down.

Despite this, on August 27, the BitcoinABC official website announced the official establishment of the BCH Global Network Council to guide and manage the funds of the BCH ecosystem. Officials said that on November 15, BCH will usher in a new network upgrade and will introduce the Coinbase reward rules. The Coinbase reward rules will provide sustainable funding for the BCH team. In order to establish a framework for the use of funds with high transparency, accountability and maximum supervision, the council was established.

It is worth mentioning that Roger Ver, a BCH supporter and founder of Bitcoin.com, also tweeted to criticize the IFP Coinbase rules of the Bitcoin ABC team, saying that using part of the BCH block reward to pay a development team is the vision of the Soviet-style central planners come true. Please stop the plan.

BitcoinABC stated that although part of the BCH fund will be used to support BitcoinABC's code base work, the official realized that BCH has now become a network composed of a series of important stakeholders. Therefore, in the coming weeks, BitcoinABC will announce a plan to allow all BCH stakeholders to participate in the design and implementation of the Coinbase protocol and fund, and BitcoinABC will strive to achieve high transparency and accountability in fund management.

Although Roger Ver also tweeted against the IFP Coinbase rules of the Bitcoin ABC team before. But now it has been decided. On September 2, BCH supporter and Bitcoin.com founder Roger Ver just tweeted: "BitcoinABC and Deadalnix announced that they will fork away from BCH on November 15th. I wish them good luck with their new tokens and thank them for the free airdrop to all BCH holders." (Golden Finance)