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- At the “Future of Bitcoin” conference a developer named Amaury Séchet revealed the Bitcoin ABC” (Adjustable Blocksize Cap) project and told the audience about the upcoming UAHF.
- Following Séchet’s announcement and after Bitcoin ABC’s first client release, the project “Bitcoin Cash” (BCH) was announced. Bitcoin Cash will be pretty much the same as BTC minus a few things, like the Segregated Witness (Segwit) implementation and the Replace-by-Fee (RBF) feature.
- At the two year mark of BCH Amaury struck a more grave tone, saying the future of BCH might not be so shiny. The website of Bitcoin ABC also showed they are in need of funds for developing. (1-8-2019).
- Then forked off of BCH in November 2020 to become its own chain.
- Has a part of the block reward going to the ABC developers.
- Whitepaper can be found [insert here].
- Code can be viewed [insert here].
- Programming language used:
How it works
Privacy Method being used
Oracle Method being used
Their Other Projects
- Can be found [Insert link here].
- Bug bounty program can be found [insert here].
"Shortly after the newly-forked Bitcoin Cash ABC (BCHA) network went live, an unknown miner disrupted the network by mining empty blocks. The attack originated from an unknown miner which has been mining empty blocks for more than a week. Experts are calling it a denial of service (DoS) attack aimed at disrupting the blockchain."
The anonymous group modified ‘the coinbase rule’ so that mining Bitcoin Cash sends 100% of the block rewards to the address associated with the Infrastructure Funding Plan (IFP)—instead of the controversial IFP tax of 8% that led to the hard-fork. This would render mining for BCHA worthless for the miners.
The attack is two-fold. First, the attacker mine empty blocks to delay the confirmation for transactions. This does not require much hash power. Secondly, they flood the network with transactions. This does not require any hash power but costs BCHA. “Combined, they essentially create a DoS attack, making the network function poorly as a payments network. The unknown miner is doing this at great expense to themselves, so long-term, they can not sustain this attack.”
Voluntarism.dev is not daunted by the costs of launching these attacks, which it calculates is much less what ABC’s policy cost them."
"At press time, BCHA’s hashrate is 0.12 Eh/s, which is less than 1/10th compared to BCH’s hashrate of 1.7 Eh/s. According to Zhavoronkov, the low hashrate may have allowed a single mining group to control the network."
Projects that use or built on it
Pros and Cons
Team, Funding, Partnerships, etc.
- Full team can be found [here].
- Amaury Séchet, main dev
- Jason Cox, dev
- Antony Zegers, dev
- George Donnelly; former employee but left (5-9-2020) after ABC began its IFP plans.
- Was funded by NChain, but got their funding pulled along the way. Still gets funding from Bitmain (10-2018). But has funding problems and has a fundraiser on their website. (1-8-2019)