Vitalik Buterin appreciates Bitcoin Cash for scheduling implementation of Schnorr signatures ahead of Bitcoin
Vitalik Buterin, the brainchild of the second largest cryptocurrency,
Ethereum, spoke at ETH Cape Town on April 2019. Speaking about the forks of Bitcoin, Buterin said that Bitcoin Cash SV was overrated and considered Bitcoin Cash to be underrated.
“I think BSV is like still overrated for as long as the market cap has multiple digits; In Bitcoin cash, I think it’s actually underrated at this point.”
He added that Bitcoin Cash community has become “sane”, as the recent fork of Bitcoin Cash [which split into Bitcoin Cash ABC and Bitcoin SV] “expunged” the Bitcoin SV community. Specifically,
“If you actually follow the community, they’ve just become considerably more sane ever since they’ve expunged the Bitcoin SV people”
The fork of Bitcoin Cash into Bitcoin Cash ABC and Bitcoin SV took place in November 2018, which, at the time, was the center of attention in the crypto community. The ABC faction of the fork, supported by Roger Ver and Jihan Wu, performed considerably better than the faction supported by Craig Wright and Calvin Ayre. Ever since the fork, Bitcoin Cash has performed better than Bitcoin SV, both in terms of price and community adoption. The price of Bitcoin Cash [formerly Bitcoin Cash ABC], at press time, was $288 and had a massive market cap of $5.11 billion compared to BSV’s numbers that were relatively lower. Bitcoin SV, at press time, was $53 and had a market cap of $945 million. In terms of the ranks of the two coins, BCH was the fourth largest cryptocurrency, however, BSV was the fifteenth largest cryptocurrency.
Buterin further added:
“… they’re [Bitcoin Cash] getting Schnoor signatures ahead of Bitcoin like that’s yeah they’ve got like real technical talent in there.”
Bitcoin Cash announced recently that they would be implementing Schnorr Signatures on the mainnet and they’ve also added the same on the testnet, where users can test the feature. According to the announcement, Schnorr Signature will be implemented on May 15, 2019. Bitcoin developers have not quite mentioned the implementation of Schnorr Signatures and other privacy/security additions to the Bitcoin blockchain. However, there have been discussions about implementing the same.
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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.