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Bitcoin Cash: what's going on?

Bitcoin Cash - Bitcoin Cash: what is happening?

The recent plan for the development of the blockchain di Bitcoin Cash, to be implemented by means of a tax on the miningnow seems to have been failed. Too many oppositions by those directly concerned, who have shown not a little annoyance not only in front of its contents, but also in the way of carrying it forward, to continue on this path.
If the project is now definitively set aside, the problem that pushed the proposers to put it on the field remains in the background. That is the one related to way to finance a public blockchain so as to allow a Bitcoin Cash (and of course to other open source projects) to actually be able to take off.

Bitcoin Cash: how to finance its development?

Public blockchains are based on the work of developers, who bring their skills to the project. A job that, although often driven by great passion, involves gods high costs. Precisely for this reason, before finally launching a project, it is necessary to face the financing problem.
Since initial funds, which are quite limited, cannot be enough, startups that intend to launch a new cryptocurrency resort mainly to the ICO (Initial Coin Offering) to prevent developers from escaping to more welcoming beaches. Alternatively trying to find funding from companies that may be interested in developing plans, to their advantage.
A case of this kind is that represented by theinitial help provided by Santander to Ripple, prodrome to the adoption of the blockchain of XRP in the payment systems of the Iberian giant.
In the case of Bitcoin Cash has instead been decided on a different path, that of one mining tax. Which however provoked considerable controversy.

Mining tax: what happened

The proposal to impose one 12,5% ​​tax, to be allocated to BCH's development plans, had been advanced by Jiang Zhuoer, CEO of the mining pool, but found a negative reaction in the community that supports the project.
If at first it seemed that too Roger Ver was in favor of the project, later the number one of he explained that he had never spoken out in favor of the initiative. Then claiming that the leaked news was nothing more than a misunderstanding with Jiang Zhuoer.
A distancing that has in practice widened the front of those opposed to the tax, causing it to sink. So much as to force the proposers to seek alternative and, above all, less divisive roads.

Bitcoin Cash: what could happen now

In the last few days, an alternative hypothesis has become increasingly concrete. The weight of the development of the Bitcoin Cash project could be entrusted to campaign successfully launched for the financing of the BCH client, namely Bitcoin ABC.
The intent was announced Amaury Séchet, a former Facebook engineer who was the architect of the first implementation of the protocol. It should also be noted how the campaign is underway has already reached $ 1,44 million out of 3,3 requested, with the deadline set at the end of April.
The success of the operation counts above all those who believe that this is the best way to finance the development of BCH without causing crises whose results could prove unpredictable within the community that supports the project.

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

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