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Bitcoin Cash: Jiang Zhuoer against the IFP proposal
Bitcoin Cash: Jiang Zhuoer against the IFP proposal
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Bitcoin Cash: Jiang Zhuoer against the IFP proposal

By Lorenzo Dalvit - 5 Mar 2020

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In what is technically referred to as “AMA” (ask me anything) the now well-known Chinese miner Jiang Zhuoer has publicly declared on the btc123.com portal his intention to vote against the IFP (Infrastructure Funding Plan) proposal that has been dividing the Bitcoin Cash community for weeks.

Despite being a promoter of the proposal itself, Jiang is faced with an unfavourable reaction on the part of the community regarding the proposed change to the BCH code in order to allow financing. 

The risk of a division is too high and so the man in charge of BTC.top says:

“Due to massive opposition from the community, in particular BCH’s main supporters, the donation by the miners will not be implemented. I will vote against with my hashrate. If asked to vote, I will use my hashrate of 3500PetaHash to vote against and ensure that no one makes mistakes”.

The discussion has come to a strange end.

Peter Rizun and the Bitcoin Unlimited client have already spoken out against it, but nearly 50% of the ecosystem will be forced to follow the Bitcoin ABC client, on which their services rely.

The interventions of the pseudo-anonymous developer hidden behind the FreeTrader nickname, helped also by the Italian Andrea Suisani – developer of Bitcoin Unlimited – have led to the birth of a new BCH node. This project has the only intent to give an alternative to those used to manage a Bitcoin ABC node – in fact, it reflects the code – but without supporting the IFP.

bitcoin cash IFP

What happened was the response to a perception of danger. The emergence of an alternative to ABC combined with numerous discussions, are leading to a rejection of the funding proposal.

A funding that should have taken place through modification of the code and donation of part of the fees to the developments decided by a new Bitcoin Cash foundation.

Currently, the change from ABC to Bitcoin Cash Node has not yet been meaningful, but its presence has made itself felt.

It is important to remember that, despite the miners’ declarations of intent, until now the activation will be averted, but whoever is running an ABC node actually seems to be in favour of activation. 

For those who were against the IFP but were running a service based on the Bitcoin ABC node, it would be appropriate to switch to the Bitcoin Cash node – the opposite alternative.

In fact, despite the miners’ theoretical statements, as long as the computing power doesn’t direct the blocks to one of the two chains, we’ll never know what could really happen.

This is certainly not the case, a coup d’état would be seen as an attack and would discredit BCH, but for academic purposes only, it is always good to understand what awaits us.

Jiang Zhuoer’s computing power (BTC.top) is not enough to declare a winner, but after Roger Ver‘s statements that moved Bitcoin.com’s computing power to the opposite vote, it seems that support is lacking on other fronts as well.

bitcoin cash IFP

Initially, Ver had supported the project, but the way the proposal developed cracked the difficult relationship with Bitcoin ABC client and its main developer Amaury Sachet

The pressure exerted by Amaury through its client was not liked, but now it seems clear that the problem remains unresolved.

How will BCH’s developments be funded?

There are those who support the logic of Peter Rizun, who claims that in order to scale on-chain by promoting a stable protocol, there is no need for drastic developments. 

Others have a vision more like the one that unites the Ethereum community, they would like to see big steps forward in the evolution of the tech, which involves big investments.

Amaury Sachet is definitely in the second group.  

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Lorenzo Dalvit

Blockchain enthusiast tutor, expert in sales and marketing, social community manager, artistic director, musician, lover of disruptive paradigms and life. All my skill are about human interaction and connection

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