In the latest episode of Magical Crypto Friends, Charlie Lee, the creator of Litecoin, Samson Mow, the CSO of Blockstream, Riccardo Spagni, the lead developer of Monero and Whale Panda, discussed about the recent hard fork of Bitcoin Cash [BCH], resulting in the existence of Bitcoin Cash ABC aka BAB and Bitcoin Satoshi Vision [BSV].
The spilt was the talk of the space in the month of November 2018, as it eventually became a hash war between two teams within the Bitcoin Cash ecosystem, Bitcoin ABC team and Roger Ver on one side and CoinGeek and Craig Wright on the other.
The war which became popularly called as the hash war seems to have come to end with the CoinGeek side proposing for the replay protection and a permanent split, while remarking that Bitcoin SV was the real Bitcoin and not Bitcoin Cash. This turn of events, according to Charlie Lee was “pretty disappointing”.
This was followed by the ‘Crypto Friends’ speaking about the centralization of Bitcoin ABC, with the checkpoints and reorg protection. Charlie Lee exclaimed that this was a “dumb idea”, adding that Satoshi Nakamoto, the creator of Bitcoin, had a very good reason to not implement it.
Nonetheless, Nakamoto did implement the checkpoints in the beginning to ensure that everyone was on the same chain. But, this was temporary implementation, which was present in Litecoin as well, he added.
“Monero still has checkpoints hard-coded checkpoints up to certain block ID. you know I mean I don’t think fundamentally is an issue with, that especially when you’re young, but I mean it it needs to be done with a view to removing it that the the issue here not checkpointing per say. it’s more this whole like large relay prevention thing which is dumb idea longitude”
The lead developer then explained reorg implementation, stating that there are several reason one could end up on an incorrect chain, “especially when you’re syncing up and large rollbacks are inevitable”. He added that there are preventable situations like network partitioning.
Furthermore, Charlie Lee said:
“so basically like I think the whole the whole point of this decentralized consensus is based on this simple fact that anyone can spin up a node and know that they will be on the right chain right they don’t have to trust anyone.”
“but once you have like this automated check point in place if you weren’t present when the correct chain was decided then if you spin up a new node you might be led to the wrong chain. According to this rule right and that’s just then you have to trust someone to tell you what is the right chain and that defeats the whole purpose of blockchain in the first place.”
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