Antpool Burns 12% of Bitcoin Cash
The largest Bitcoin mining pool in the world administered by Jihan Wu has announced about burning 12% of Bitcoin Cash (BCH) obtained through tax collection. The currencies are going to be transported “to a black hole address”.
Antpool, a Bitmain subordinate, said the main reason of this decision was the bitter evolution of Bitcoin Cash’s popularity. The managing team believes that BCH has a major potential and is set to grow considerably, becoming a “widely used public blockchain”, taking into account the hard fork that will take place on 15th May and 15th November.
The hard fork scheduled on 15th May aims to update the OP codes, which in turn will create the suitable environment for developing new applications. Thus, it’s expected that the improvement of the blockchain system will combat the risks of network.
According to Antpool, the new update will support the company to reach a higher transaction volume. One of the company’s representatives claimed that the crypto industry is not all about BCH and other crypto assets, but about “Freedom of Speech and Freedom of Association“.
The company encourages the BCH community to use apps developed on the platform and “consider fee-paying transaction as a customer“. The team assures that this change was voluntarily succeeded.
“The Bitcoin Cash [BCH] community’s continued passion is very critical for fostering the growth of the BCH ecosystem. Maximalism is a dangerous idealism which supposes that only one cryptocurrency should exist and flourish and that all the other tokens are ‘scams’ or ‘altcoins’. The community benefits by welcoming the deployment of additional tokens on the BCH blockchain. If we have an arrangement of sharing growth in front of the tipping point of on-chain transaction explosion,” added Antpool.
The community reaction is divided
To the surprise of the company, the announcement made by the world’s largest mining pool collected many remarks, positive as well as contradictory opinions related to the Antpool’s decision.
“This is not Satoshi’s original vision. BCH proving yet again they are not the real Bitcoin but merely a pretender. BTW it is not possible to prove the black hole address is a real black hole address. Knowing their history of deception, they probably hold the private key from it,” according to Bilderberg Von Killbaby, a futures merchant.
“They are calling for other miners to do the same. Holding lots of coins like they have been for the past couple months hasn’t helped BCH recover it’s price. So they are now trying to reduce the supply to increase the price,” related a BCH community’s member.
Community reactions remain divided. The fact is that Bitcoin Cash is undergoing a transformation and spectacular evolution in terms of traded volumes.