According to bitcoin cash news today, a digital currency exchange launched a trading platform called Voltaire.cash on September 25th, a trading platform designed to leverage bitcoin cash as the basis for all transactions. The platform said that ethereum and dogecoin supported BCH shortly thereafter.
BCH was forked from the Bitcoin network in 2017, and today Bitcoin ABC is responsible for its major development work. The topic that has been controversial for BCH is whether BCH can be forked.
At a roundtable discussion, Amaury Sechet, lead developer at Bitcoin ABC, said that since 2017, the fork has been decreasing. Bitcoin ABC is the most popular Bitcoin Cash (BCH cryptocurrency) client, with more than 50% of nodes currently operating on this software. BCH has won support from several mining pools and mining giant Bits, as it enables direct expansion of the block and helps the network handle more transactions.
Sechet said that as long as a cryptocurrency is forked, the network effect of the blockchain will be very damaging, affecting its ability to create future value. “This kind of thing can only happen a few times,” he added, and most of the future cryptocurrency will eventually become meaningless.
He argues that the value of the fork lies in the differences behind it. The more arguments, the more likely a project will move toward two competing paths.
Liao Xiang, CEO of Lightning Intelligence, also agreed with this view. He said that compared with last year, the internal contradictions of the community at this stage seem to be less intense. If there is no contradiction, there will be no forks, because the forks need someone to support them. Last year, Liao Xiang also forked Bitcoin Gold from the Bitcoin network, aiming to replace the ASIC mining machine needed for bitcoin mining with graphics chips.
James Wo, head of ETC Labs, also believes that the most basic value of cryptocurrency is due to community disagreements, and that there is a fork only when there is a huge disagreement in the community. In 2016, after Ethereum implemented a hard fork, Ethereum Classic (ETC) was still operating in the original code of Ethereum.
When asked how to look at the competition between the fork and the original network, they all believe that although the two have developed towards different goals and user groups, to some extent, there is still competition.
Wo acknowledges that there is competition between ETC and Ethereum (eth coin), but they all exist to meet the needs of different users. For example, ETC is suitable for those looking for lower transaction costs, while Ethereum is to explore diversified services.
Sechet also believes that there is competition between the forks, but the goals of Bitcoin and BCH are completely different: The goals that these two projects want to achieve are different and the target users are different.