Viabtc Founder Reveals BCH Fork Idea Called Bitcoin Cat 2

During the last few days, discussions concerning the Bitcoin Cash Difficulty Adjustment Algorithm (DAA) has become a polarizing debate. In the midst of all the quarreling, Viabtc’s founder Haipo Yang has announced a new fork of BCH called Bitcoin Cat. recently reported on the arguments concerning the Bitcoin Cash DAA. Following the report, the very next day Bitcoin ABC published a blog post that detailed it would be using Jonathan Toomim’s Asert DAA.

However, at the end of the announcement, the lead developer of Bitcoin ABC, Amaury Séchet, detailed that the Infrastructure Funding Proposal (IFP) would be added to the next upgrade. This decision made the debate become contentious once again, and now BCH proponents are squabbling over the IFP. The IFP will take 8% of the coinbase reward and dedicate it to developers.

In the midst of all the infighting, even before ABC’s most recent announcement, Viabtc’s founder Haipo Yang has been toying with the idea of a new BCH fork. The Viabtc executive has been tweeting about the subject often and he also published a blog post about the experiment as well. On August 5, Haipo Yang tweeted:

I am considering building a new Bitcoin fork inherited from BCH called Bitcoin Cat. It’s a temporary name. Cats are cute and harmless, so they won’t have a war.

In addition, he tweeted that the BCH community “needs real leaders.” “Everyone who has favored Bitcoin Cash is welcome to participate and build CAT. Let’s make Bitcoin great again.” Then on August 6, Haipo Yang tweeted something a touch more controversial than just an idea about a new Bitcoin fork.

“If Bitcoin Cash removes the UTXOs that never move since the fork, we can double the block reward and fund the foundation without the IFP and without breaking the 21M limit,” Haipo Yang said. Then on Friday, the Viabtc founder revealed that after he put the idea out there it caused “a lot of discussion in the Chinese community.” Haipo Yang stressed:

Bitcoin Cat is a fork coin based on Bitcoin Cash, and it is likely to be born on November 15.

Haipo Yang’s Bitcoin Cat will have a number of differences than BCH and other blockchains as well. He said that smart contracts will be important and the basic script operations on Bitcoin are insufficient.

He also thinks the mining algorithm should be further modified to be more ASIC-friendly in the future. “The Bitcoin mining algorithm, if used as always, or whatever kind of DAA algorithm cannot eliminate the hashrate tide,” the blog post emphasizes.

Viabtc Founder Reveals BCH Fork Idea Called Bitcoin Cat 3Viabtc Founder Reveals BCH Fork Idea Called Bitcoin Cat 4

The Medium blog post also notes that Bitcoin Cat might minimize the block time too. He also thinks that the protocol should be standardized and he also aims to add a “voting system.”

“The most important is the establishment of a foundation,” Haipo Yang stressed. Finally, Yang ends the blogpost with the contentious idea of voiding out UTXOs that are not being used. “I have another interesting idea: all UTXOs that have not been moved after the hard fork one year later are to be voided.”

Of course, this specific addition to Bitcoin Cat is somewhat controversial because some believe it is taking someone’s coins without asking. The concept is not new, however, as the United Bitcoin (UBTC) project also did a scheme which was similar.

United Bitcoin was forked on December 12, 2017, at block height 498777 but since the project was announced its fizzled away like bitcoin diamond, bitcoin candy, and super bitcoin. Although, UBTC still trades for $0.91 per coin with $117,000 worth of daily trade volume according to current data.

What do you think about Haipo Yang’s Bitcoin Cat idea? Let us know what you think about this subject in the comments section below.

Tags in this story
Amaury Séchet, BCC, BCH, bitcoin cash, Bitcoin Cat, CAT, Chinese Community, contention, DAA Debate, debate, Haipo Yang, hashrate tide, IFP, infrastructure funding plan, United Bitcoin, ViaBTC, Void UTXOs

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews

Crypto Scams

The Largest Crypto Scams Of 2022 (So Far)
The Largest Crypto Scams Of 2022 (So Far)
June 14, 2022
How Do Scammers Entice Their Prey?
May 10, 2022
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
Beanstalk Farms Loses $80M In A Massive DeFi Governance Flash-Loan Hack
April 23, 2022
Joon Pak Head of Crypto at Prove talks to Us about Crypto Fraud And More
April 11, 2022
Mintable CEO Zach Burks Talks to Us about the Opensea Stolen NFTs and Their Recovery
March 21, 2022

Automated trading with HaasBot Crypto Trading Bots

Blockchain/Cryptocurrency Questions and Answers

Roundtable Interview-What is the Effect of The Russia-Ukraine War on Cryptocurrency Prices?
March 4, 2022
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
The Unconventional Guide to Ethereum
October 28, 2021

CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin21,453 0.19 % 0.25 % 12.63 %
Ethereum1,244.0 0.38 % 1.42 % 24.99 %
Tether1.001 0.04 % 0.13 % 0.01 %
USD Coin0.9989 0.16 % 0.08 % 0.04 %
BNB240.13 0.37 % 0.73 % 21.66 %
XRP0.3686 0.04 % 0.44 % 19.17 %
Cardano0.9566 0.22 % 0.68 % 6.96 %
Binance USD1.002 0.24 % 0.04 % 0.09 %
Solana41.41 0.06 % 0.97 % 30.15 %
Dogecoin0.07053 0.65 % 3.24 % 32.78 %

Bitcoin (BTC) $ 21,434.00
Ethereum (ETH) $ 1,241.97
Tether (USDT) $ 1.00
USD Coin (USDC) $ 1.00
BNB (BNB) $ 239.97
XRP (XRP) $ 0.368756
Cardano (ADA) $ 0.518421
Binance USD (BUSD) $ 1.00
Solana (SOL) $ 41.35
Dogecoin (DOGE) $ 0.070808