Amaury Sechet’s Bitcoin ABC is up 70% today as the developer announced a new client software update that includes stability fixes for each Bitcoin Cash client fork.

The new release breathes much-needed life into the Bitcoin ABC (BCHA) faction of Bitcoin Cash, which was defeated by rival Bitcoin Cash Node (BCHN) in a brief hash war after forking out on November 15. This led to rumors of its existence. Imminent death.

According to CoinMarketCap, BCHA opened trading at $ 11.78. The coin is currently traded in high volume on exchanges and was in the $ 10.50 to $ 21 range before declining again in the $ 19 to $ 20 range.

This represents an increase of 70% in the last 24 hours and an increase in confidence that the coin will not be offered. However, the BCHN version currently trades at $ 254.61 and is now listed as Bitcoin Cash or BCH on most exchanges.

Sechet also announced a positive attitude towards the future of his creation on Twitter overnight, concluding that he will remain loyal to the ABC community.

After losing the claim to Bitcoin Cash and the BCH band, BCHA will face dangerous crosswinds as a new currency when it comes to gaining support from traders and exchanges. In addition to these problems, since November 15, miners in the fork’s history have added only a few blocks to the BCHA series. The decline is the result of the constant imbalance between extremely high mining problems and the lack of hash power required to find blocks of that difficulty.

The last BCHA block, which took seven hours to find, contained more than 14,000 transactions, a significant increase from the previous 1674 blocks. It also included just over 0.9 BCHA in transaction fees, which is $ 19.40 in current rates. According to new currency rules implemented by Bitcoin ABC, 8% of newly mined coins went together with 8% of the transaction fees of the Protocol Development Fund, a total of 0.57 BCHA or $ 12.41. Although BCHA blocks are not normally detected, this problem is expected to disappear with the next BCHA difficulty change.

In contrast to the political and personal drama that unfolded during Bitcoin Cash’s last hard thorn in 2018, Sechet, the “benevolent dictator” of BCHA, was friendly in acknowledging society’s will and the prospect of ABC’s defeat. On November 12, three days before the expected split, Bitcoin ABC began transferring the domain to the pro parties to implement the majority of Bitcoin Cash Node (BCHN) clients pending no victor from the looming retail war.

Bitcoin ABC also said it will continue to support Bitcoin Cash client applications for both BCHA and BCHN post-fork services to companies that have accepted the currency as a payment method.

Bitcoin Cash is facing an uphill battle to raise funds for development. In August 2020, Bitcoin launched ABC 0.22.0 from its clients, introducing changes to the coin base in an effort to ensure continued availability of funds to protocol developers. The proposal has been controversial since its inception when the Development Fund is regularly compared with taxes, and during the year the proposed size changes from the current 15% to 5% to the current 8%.

Source: CoinTelegraph