Recently, the Bitcoin Cash community has been going through a lot of debate regarding protocol proposals. While these discussions can get heated, the upside is that less than a year since the rebirth of Bitcoin through Bitcoin Cash, a lot has been achieved and the community is already going through growing pains.
Tweaking the protocol to make certain things easier—such as the creation of permissionless tokens, can of course lead to an upsurge in excitement and activity within the Bitcoin Cash network. However, we must all be reminded that trade value and other secondary use cases, although ideal and definitely in the long-term road map for BCH, must not be made a priority over the security and economics of the network.
And it should absolutely not be allowed to happen if it will compromise Bitcoin’s pledge to deliver fast, low-cost, and reliable peer-to-peer value transfer. This is where Ethereum went wrong—a single application can bring the entire network down to its knees in congestion (and unstable fees).
Calvin Ayre, founder of CoinGeek, is firm on preserving the “battle-tested” protocol:
“CoinGeek believes in Bitcoin BCH and further believes it should fully restore the original Bitcoin protocol. It was unnecessary changes to BTC’s base protocol that forced the fork to Bitcoin Cash BCH, the only true Bitcoin. Now that we have Bitcoin Cash BCH, we should be focused on fully restoring it to the original Bitcoin protocol, rather than making additions or more changes that take BCH away from the original protocol.”
He continued: “Everything that needs to be done can be layered on top and retain the decade of proven security. I can assure the BCH community that our miners will never support anything that changes the battle tested underlying original Bitcoin protocol with so many ways to do everything needed on top of this proven secure protocol. Many friends of mine in the Bitcoin BCH mining community are telling me they also support our position.”
There are other less invasive and less risky solutions to achieve mass adoption, whether it’s for colored coins or other use cases, that can be layered on top of the blockchain. That way, should something go wrong, it’s easy to scrap the layer without disrupting the whole network.
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