- Bitcoin.com has made a blog post on Read.cash, beginning with the acknowledgment of the disturbance within the community after BTC.
- Bitcoin.com has now retracted the proposal in the latest blog post stating the lack of community support.
- Bitcoin.com has clearly stated that they do not plan on going through with any changes until there is strong positive consensus within the ecosystem
Bitcoin.com has made a blog post on Read.cash, beginning with the acknowledgment of the disturbance within the community after BTC. TOP CEO Jiang Zhuoer suggested a proposal that would implement an obligatory fee of 12.5% mining rewards from miners and mining pools to go towards funding developers in the Bitcoin Cash ecosystem.
The plan set up to have a runway of 6 months, and even though the larger mining pools supported the move, a lot of the BCH community had their reservations about the proposal, some also stating that this would fundamentally change Bitcoin Cash.
Bitcoin.com has now retracted the proposal in the latest blog post stating the lack of community support and encouraged more discussion and clarity surrounding developers who require funding from the community.
Bitcoin.com has clearly stated that they do not plan on going through with any changes until there is strong positive consensus within the ecosystem to prevent the risk of a chain fork.
The team also seems to be planning other proposals that could be profitable for both miners and developers and also “preserves the fundamental economics of Bitcoin Cash.”
The group has reiterated that it is merely the lack of clear communication within the community that has to lead to the recent arguments regarding the funding proposal.
They encourage developers to come up with a clear business plan, including a roadmap for their project, proper fund allocations, the time estimates for execution, and their resource requirements to have a properly structured funding request that investors can review and choose to flow cash into.
They also encourage the community and miners to be more transparent with developers on what the BCH ecosystem needs to become more efficient, fast, and reliable for all its users.
This co-dependent relationship is what the Bitcoin Cash needs to come up with a symbiotic funding proposal that benefits both community and developers.
Bitcoin.com has also made it clear that any funding proposal should be temporary and reversible to prevent an incentivization of development. The team at Bitcoin.com hopes to receive more funding proposals that are looking to strengthen the cryptocurrency’s entire ecosystem while remaining compliant with the basic economic principles of Bitcoin Cash.