Amaury Séchet, the lead developer of full-node client Bitcoin ABC has officially confirmed that Bitcoin Cash (BCH) will fork on May 15 to allow for bigger block sizes along with some other adjustments.
Bitcoin ABC developers have also made the codebase for the client Bitcoin ABC 0.17.0 available for download ahead of the launch, with the new consensus rules included. The change will be incorporated starting from May 15 at 12:00:00 UTC and will take place based on Median Time Passed (MTP) instead of at a set block height.
An announcement made by the developers stated :
“When the median timestamp of the most recent 11 blocks is equal to, or greater than 1526400000, then the new consensus rules shall apply to the next block. The exact time of activation depends on the time this block is found.”
The two main features are instant confirmation and scaling. The block size is expected to increase up to 32MB with the new fork that will allow for greater volume and speed of transactions.At the Satoshi’s Vision conference in March, Sechet described the scaling change as allowing “Paypal-like volume of payments”.
Operational codes are also revised to introduce “Ethereum-like characteristics”, with the updated OP-codes and colored coin technology.
Séchet clearly extended his support for having multiple implementations of BTC Cash from other development teams behind clients like BTC Unlimited and Parity.
“It’s important to have several implementations for two reasons: the first is a technical reason. If there is a bad bug in one implementation, if you have another, you can keep the network running.”
Multiple clients prevent monopolization and promote fairness. He added,
“I think that it is great because if one client started going rogue it would start to lose market share and another client will gain that market share. It’s keeping everybody honest,”
ABC developers also mentioned that Bitcoin Unlimited and Bitcoin X clients have said that they will be updating their software in accordance with the hard fork to keep up well.
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