Peter Rizun Says 'Let's Wait' on Bitcoin ABC's November BCH Fork

Peter Rizun Says ‘Let’s Wait’ on Bitcoin ABC’s November BCH Fork

This fall, Bitcoin Cash implementers Bitcoin ABC are looking to hard fork BCH in order to “enforce a lexicographic ordering” for “improved scaling.” However, Bitcoin Unlimited Chief Scientist Peter Rizun has publicly declared “[l]et’s wait” on the measure, asserting it may do more damage than good for now. 

Also read: Recent Ether Liquidation by ICOs — a Case of Fact-Free Reporting of Non-News?

Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts

Rizun: This Fork Shouldn’t Go Off as Scheduled

Bitcoin Unlimited’s Peter Rizun tweeted out on August 12th that Bitcoin ABC’s coming November 2018 hard fork of Bitcoin Cash should be put off.

As the ABC team recently explained, “Bitcoin ABC has been striving to have consensus-related changes be in a code-complete state by August 15th.” At the top of the list of such changes is the so-called “canonical transaction ordering” system.

As such, in Rizun’s new call for a postponement, he cited a paper entitled “A opinionated critique of the ‘Canonical Transaction Ordering for Bitcoin’ white paper, written by Joannes Vermorel et al.”

Therein, the author /u/awemany argued that “starry-eyed inadvertent construction of red herrings [has] lead to false conclusions and false support regarding the removal of the transaction order.”

Bitcoin

/u/awemany concluded accordingly that:

“I think [my argument] demonstrates why we should all really ask ourselves whether we want to go forward with this in November, or postpone this to have a second look. Especially the in-the-field observation by Tom Zander that at least one current implementation suffers from a reduction in validation speed concerns me greatly and tells me that it is rather a good idea to wait a bit more with a further analysis and proper addressing of the above criticisms. Which are not only made by me or Tom Zander btw., I am sure I have seen some of them being made elsewhere, in comments deep on Reddit and similar. So any reader who wants to be properly cited as having prior art here, please drop me a link.”

Rizun agreed, signal-boosting the paper on Twitter. The crux of the argument was that the reason for the network update “was improved scalability; but there is evidence this change would hurt more than help,” as Rizun put it.

What happens next isn’t clear yet, of course. Bitsonline will continue reporting on the potential hard fork as the situation continues to develop.

Calvin Ayre Releases Statement

Calvin Ayre, another influential figure in the BCH community, released an August 13th op-ed via his CoinGeek outlet wherein he detailed what “consensus changes that CoinGeek, as a significant [bitcoin cash] miner, will support in the November 2018 protocol upgrade.”

In particular, Ayre expressed CoinGeek’s support for a 128 MB block size, uncapping op codes’ script limitations, and bringing back op codes like “OP_MUL, OP_LSHIFT, OP_RSHIFT and OP_INVERT.”

Moreover, Ayre said CoinGeek would not “commit our hash power to running software that implements” canonical transaction ordering and the OP_DATASIGVERIFY op code.

BCH in Headlines Per Bitmain’s IPO

Beyond a possible chain split and technical advancement in Bitcoin Cash’s new second-layer Keoken “smart layer,” the other big happening in the BCH ecosystem right now centers around Bitmain. The crypto-miner manufacturer’s possibly forthcoming IPO has seemingly revealed the mining powerhouse’s vast BCH holdings.

The figures involved are already in dispute, but what is clear is that if the IPO is real, Bitmain is continuing its bid to go all-in on cryptocurrency.

It’s an interesting wrinkle amid 2018’s historic cryptoeconomic bear market, to say the least.

What’s your take? Do you think Rizun is right or wrong? Let us know where you stand in the comments section below. 


Images via Pixabay

Related News