Home » Bitcoin Cash Hard Fork in with Mixed Reactions

Bitcoin Cash Hard Fork in with Mixed Reactions

by Carolina Lynch

A possibility of Bitcoin Cash hard fork is on the cards this month and in the event of a chain split, Trezor has cleared that it will provide support to BCHABS over the BCH node.

The stance of the hardware wallet seems to be at odds with other crypto companies. 

Bitcoin Cash Fork

In what we can refer to as a major announcement, Satoshi Labs, which is behind the making of Trezor hardware wallets, has announced that it will not proffer any immediate support for the Bitcoin Cash blockchain split which is due this month. After months of an ongoing dispute in the Bitcoin Cash community, the developers behind the BCHABC are now looking forward to setting hard fork the blockchain on November 15. The main motive of this hard fork is to introduce an automatic 8% developer payment directly from the block rewards. 

But, the dispute is very active which proves that more than half of the network is not agreeable to this and is opposing it from the word go. Data from reliable sources also showcase that more than 75% of the Bitcoin Cash network is pointing out towards the superior and controlling the non-ABC network, Bitcoin cash node. 

The new Bitcoin Cash Node network will not include any of the developer’s funds. But as Satoshi Labs puts it in its blog, without community consensus, it is likely that the dispute will result in another version of Bitcoin Cash. The official blog post says that the hardware wallet will continue to support the BCHABC implementation after November 15. The company has also made it clear that the hard fork in all likelihood could cause disruptions in the service. 

Satoshi Labs has cleared it that if there is any chain split, it will not stop monitoring both the networks. The organization will add further support on its Trezor hardware wallets if there is a case of any rival competing implementation that gets support. Likewise, if Bitcoin Cash emerges as the preference of the community, then the company will drop its support for Bitcoin Cash ABC. The Bitcoin Cash community was extremely critical of Satoshi Lab’s announcement considering the weight behind the Bitcoin Cash Node implementation. Many advocates also believe that with the introduction of a developer fund, Bitcoin ABC is the new asset and not Bitcoin Cash Node. 

Trezor will not take a snapshot

Apparently, Trezor also won’t be taking a snapshot of the network which will give users the advantage of claiming extra coins in the split. Satoshi Labs explained that those users who are waiting for their claim should consider moving their BCH to a much more compatible wallet before November 15. But there are many cryptocurrency exchanges that have pledged support to any BCH chain split. Binance and Huobi already conforming they will take a blockchain snapshot. 


The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.

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