Bitcoin.com Pulls Support for Bitcoin Cash Dev Fund

Bitcoin.com Pulls Support for Bitcoin Cash Dev Fund

Mining pool Bitcoin.com, expected to no longer back the existing plan for a dev fund, is not going to support the argumentative bitcoin cash development fund proposal except any pact. Bitcoin.com will not risk a chain split or a change to the underlying economics. A proposal must have economic weight people on board. The proposal signed by the executive chairman of Bitcoin.com last week called for a 12.5 percent share of the block reward to be redirected to a new zcash-style development fund. The group told about the possibility to fund long-term development and a role will be given to ecosystem members to decide which projects get funded. The proposal was met with some support and even then it got criticism from critics.

Intimidation of Hard Fork

Parties related to a business get more accountable and more efficient when an idea is developed and allocate funds according to the plan. Bitcoin.com said there would be a ‘’great opportunity’’ for users to say what they need and for developers to assemble clear funding proposals. Actually an opposing miner group was trying to control roughly a quarter of total network’s mining hashrate and that’s why the news got revealed. The group said it’s really unfair that a small group of mining pools were trying to intrude upon the system to accept an obligatory charge they had not agreed to.

Reportedly, in response to the comment the mining group said it would transfer hashrate from signatory pools and launch a competitive BCH pool to offer a voice to miners that doesn’t go with the proposal and they would mine up to the hard fork to create their own chain after the fork with more hashrate than the signatories can muster. To facilitate all relevant parties, Bitcoin.com will work to create a new plan. But no proposal should put the goal at bay. But it is yet to be confirmed that the remaining three signatories will continue supporting the existing proposals.

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