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Bitcoin Cash [BCH] ABC lead developer: Craig Wright will definitely threaten to disrupt the chain

Akash Anand



Bitcoin Cash [BCH] ABC lead developer: Craig Wright will definitely threaten to disrupt the chain
Source: Unsplash

Bitcoin Cash [BCH]’s so-called hash war has still not ended, with the major players of the BCH hard fork still at different ends of the debate. The hard fork which occurred on November 15 has resulted in the formation of two different tokens: Bitcoin Cash SV and Bitcoin ABC.

Speaking to Ran NeuNer, Amaury Sechet, the lead developer of Bitcoin ABC spoke about the Satoshi Vision implementation and the officials propagating it, mainly nChain’s Craig Wright. Sechet had also made news recently when had stated that the hard fork had promised a lot of things but ended up being a disappointment.

The developer also touched upon the fact that since the ABC team had trumped the SV team in terms of the number of blocks mined and Proof of Stake, a lot of threats and attacks can be expected. He said:

“We all know how Craig Wright functions. There will surely be a lot of threats from his side as well as the SV team. After the entire hard fork debate, he has even started attacking Ripple’s XRP, which means he is just out there to seek attention.”

During the debate, Neuner also posed the question of whether the BCH hard fork was the biggest attack in terms of Proof of Work. He added that the fork also involved people with deep pockets that would enable them to sway the happenings on the network.

To this, Amaury Sechet replied that he was not really sure about it but Craig Wright will not rest till he disrupts the chain. He claimed that Wright and his team still had enough hash power to create turbulence on the Bitcoin Cash network. In his words:

“The ABC team is definitely cautious about attacks and threats from the opposite team. We are also working very closely with miners to make sure that any sort of change does not happen. The SV team can try something but we will definitely do our best to make sure the network is safe.”

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Bitcoin’s [BTC] security is 100 times more than that of Bitcoin Cash’s [BCH], says Litecoin creator





Bitcoin's [BTC] security is more than a 100 times than that of Bitcoin Cash [BCH], says Litecoin creator
Source: Unsplash

Charlie Lee, Creator of Litecoin [LTC] and Managing Director of Litecoin Foundation, spoke about projects that allocate mining rewards to developers, in an interview with Laura Shin for Unchained Podcast. He also opined about whether Litecoin’s vision still remained the same or not.

On projects that allocate a percentage of the block reward to developers, Lee stated that it was “okay” as long as the project developers were transparent on this subject, adding that in some cases, this was “needed”. He further stated that it was hard to find developers for Litecoin since, there were not enough funds to pay these developers.

[…] we work on raising money and using money to pay for developers but unlike ICOs or other projects we just don’t have millions sitting from selling our ICO tokens to fund these developers. So, yeah I think projects that do that it’s kind of needed […]”

However, Lee stated that for cryptocurrencies such as Bitcoin and Litecoin that really want to become decentralized money, there cannot be any centralized actions like using mining rewards to pay developers.

This was followed by Lee speaking about Litecoin’s vision and the coin’s use case. On this, Lee stated that the current vision was still “very similar” to the old one, seeing Litecoin as a complement to Bitcoin. He added that Litecoin’s raison d’être was not to replace Bitcoin, unlike some other coins that claim to be the better version of Bitcoin.

“[…] I think it’s trade-off. So, a lot of people don’t talk about the trade-offs people talk about how they have fees are cheaper […] people in support of Bitcoin Cash constantly talk about how Bitcoin Cash transaction fees are like a hundredth of that of Bitcoin but, you get what you pay for right […]”

He further added that Bitcoin’s “security was more than hundred times” that of Bitcoin Cash, irrespective of the hash rate being more or not. Lee remarked that one cannot “attack Bitcoin,” whereas Bitcoin Cash could be “eas[ily] be attacked,” adding that this factor was very important and also the reason for cheaper fees.

“[…] same for Litecoin alright. Litecoin is cheaper and the security is less than Bitcoin […] so people who actually move lots of money they would want to use Bitcoin and I think that’s fine like Litecoin can compliment Bitcoin perfectly fine […]”

Lee stated that this was the reason he agreed with Lightning Network, arguing that it was good for both Bitcoin and Litecoin. He stated that Lightning not only helps them scale, but also enables cross-chain atomic swaps, allowing people to swap two different coins instantly and easily in a decentralized manner.

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