Not dead yet: Bitcoin Cash ABC up 70% as Sechet releases new client

Amaury Sechet's Bitcoin ABC coin is up 70% today as the developer announced a new upgrade for the client software that includes stability-related fixes for both forks of the Bitcoin Cash client.

The new release breathes much-needed life into the Bitcoin ABC faction of Bitcoin Cash which was crushed by rival Bitcoin Cash Node in a briefly-lived hash war following the fork on November 15.

However the BCHN version currently trades at $254.61, and is now listed as Bitcoin Cash or BCH on most exchanges.

Losing its claim to the Bitcoin Cash name and BCH ticker, BCHA faces heavy crosswinds as a new coin in terms of gaining merchant and exchange support.

Per the new coinbase rules implemented by Bitcoin ABC, 8% of the newly-mined coins along with 8% of transaction fees went to the protocol development fund, which is a total of 0.57 BCHA, or $12.41.

Unlike the political and personal drama that unfolded during the last Bitcoin Cash hard fork in 2018, BCHA's "Benevolent dictator" Sechet has been amicable in terms of acknowledging the will of the community and the likelihood of ABC's defeat.

On Nov 12, three days before the expected fork, Bitcoin ABC initiated the transfer of the bitcoincash.org domain to parties loyal to the majority Bitcoin Cash Node client implementation, in anticipation of not emerging victorious from the impending hash war.

Bitcoin ABC has also said that it will continue to support both BCHA and BCHN implementations of the Bitcoin Cash client after the fork in order to serve businesses who have adopted the coin as a method of payment.

Bitcoin Cash has faced an uphill battle raising funds for development.

In August 2020, Bitcoin ABC launched 0.22.0 of their client, introducing the coinbase changes as an attempt to help ensure the continual availability of funds for developers of the protocol.