Discussions regarding the Bitcoin Cash Difficulty Adjustment Algorithm (DDA) have been going on since past few days. Haipo Yang, the founder of Viabtc’s has made a very important announcement regarding Bitcoin Cash (abbreviated as BCH). He has announced a new fork of Bitcoin Cash which is named as Bitcoin cat.
On August 5, Haipo Yang tweeted:
“BITCOIN CAT IS A FORK COIN BASED ON BITCOIN CASH, AND IT IS LIKELY TO BE BORN ON NOVEMBER 15. CATS ARE CUTE AND HARMLESS, SO THEY WON’T HAVE A WAR”
Haipo Yang have further explained that the new Bitcoin Cat will be different fro the blockchains and Bitcoin Cash. It will have new features added as the basic script operations on Bitcoin are insufficient and that the smart contracts will be given more importance.
The new Bitcoin Cat will minimize the block time. However, this is a temporary name.
According to Haipo Yangthe mining algorithm of Bitcoin needs to be modified and that it should be more ASIC friendly. He strongly believes that the protocol should be standardized and also aims to add “ voting system”.
He also laid the idea of voiding out UTXOs which are not being used. As per him voiding out UTXOs will double the block reward and fund the foundation without the IFP and without breaking the 21M limit.
Haipo Yang has invited one and all to lay a strong foundation of building Bitcoin Cat.
The very idea of adding Bitcoin Cat has caused a lot of discussion and arguments in the Chinese market. The idea seems controversial for some as it seems to taking out someone’s coin without permission.
A very similar idea previously was also launched by United Bitcoin (UBTC) in December 2017.
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