Bitcoin ABC, the historically dominant Bitcoin Cash (BCH) app, appears poised to give way to a community-based uprising of the Bitcoin Cash Node (BCHN).
According to Coin Dance, over 75% of the contract indicated support for BCHN last week, and 1% indicated support for ABC. There are only more than ten days left.
BCHN nodes selected 84.7% of Bitcoin Cash blocks produced in the last 24 hours, compared to 1.4% for ABC.
BCHN came in response to ABC’s announcement that it would introduce a new “coin base rule” that converts 8% of the block reward into a development fund controlled by ABC’s lead developer Amori Sechet, along with changes to the BCH difficulty algorithm, a Bitcoin Cash update is planned on November 15.
BCHN supporters insist that a base currency rule is unnecessary and state that they can fund development with voluntary community support.
Although Sechet threatened that “the BCHN chain will be eliminated” if the ABC chain grows longer than the BCHN chain after the chain split, BCHN’s current dominance suggests that a rival implementation will become dominant on November 15 – and shape an uncertain future for ABC.
In a November 3 announcement on Crossroads, change of leadership for cryptocurrency Binance announced that if current signal trends continue, “Binance will consider the BCHN chain as a future BCH chain.”
The exchange indicated that it will distribute coins at a 1: 1 ratio if a competing chain is created.
Amaury Sechet has been the only major Bitcoin ABC developer since Bitcoin Cash switched from Bitcoin on August 1, 2017.
Although Setchet was initially supported by BCH’s main supporters, including Roger Ver, the growing tension between the developer and his supporters led to the end of support, prompting Setchet to introduce a coin-based rule.