BCH Potential Will Decrease Further If IFP Rolls Out, No Longer Be Called Bitcoin Cash

Ritika Sharma
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.
  • IFP (infrastructure financial plan) has been recently released by the Bitcoin ABC on its official website.
  • The implementation of the new plan is indeed going to be on May 15, 2020, which will be included in the upcoming release version 0.21.0.
  • The BCH miner update clearly shows the pressure it is in with the BTC ABC getting their new update around the corner.

IFP (infrastructure financial plan) has been recently released by the Bitcoin ABC on its official website. The Chief Scientist of Bitcoin Unlimited (BU), Peter Rizun Commented on that plan that it must be upgraded by May 15th to fully get the benefits of the new versions of ABC and neutralize the poison pill.

He also said that this will be successful by default and the Bitcoin Cash could be happened to abandoned by developers and possibly avoided by them. He tweeted regarding this matter on his twitter handle @PeterRizun,

The new version of coins has no code for payment to third parties in agreement and if the trading platform and miner download and run this version of Bitcoin ABC, BCH will be no longer Bitcoin Cash and it will not have the right to continue naming under the “Bitcoin” name.

The implementation of the new plan is indeed going to be on May 15, 2020, which will be included in the upcoming release version 0.21.0.

The update includes

  1.  The plan will only come into effect when miners triggered by the BIP 9.
  2.  5% is reduced in the amount of block reward.
  3.  Funds can be transferred to multiple projects or some selected projects on the white list.

Jiang Zhoer, the CEO of the mining pool BTC.TOP, also Updated the preliminary plan for the BCH miner Donation plan:

  1. It will start by the hash voting, if 2/3 of network hash agrees, the donation plan will be put into effect.
  2. 5% of the coinbase will be donated by Miners.
  3. The donation plan will last for a period of six months.
  4. We will run the voluntary donation to see the effect if the possibility of starting a donation after the community reach a basic consensus is not there and then proceed the next hash rate.

The BCH miner update clearly shows the pressure it is in with the BTC ABC getting their new update around the corner and the intentions are clearly to rip off the name “bitcoin” from the Bitcoin cash making it BCash.

There is no potential development in Bitcoin cash that makes it special pushes into deeper into the abyss of nothingness and maybe bitcoin cash will not cease to exist if this continues, but Bcash will be there.

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