Séchet talks about gigabyte-sized blocks that would bring Bitcoin Cash up to Visa and Mastercard scales, and incremental upgrades to ensure security.
Wearing a sweater in anarcho-capitalism colours, Bitcoin ABC Lead Developer Amaury Séchet talked about their role within the Bitcoin Cash ecosystem at the CoinGeek Conference last month in Hong Kong. Bitcoin ABC was instrumental catalyst in the block size
Séchet stated an interesting fact about the software and UI/UX development field, writing in his presentation: “If we do our job well, you won’t notice us,” he said. “We want to be as boring as possible, like the plumbing in the house or the electricity—just don’t think about it. It just works.” Talking about the hilarity of being asked when Bitcoin ABC will launch their ICO, Séchet clarifies they are an implementation, not a fork of Bitcoin Cash—there is no “ABC coin.”
In his presentation, Séchet talked about how legacy Bitcoin’s (BTC) high fees and unreliable confirmation times resulted in negative merchant adoption, losing video game distribution giant Steam and pushing Microsoft to suspend support.
He also reiterates the fact that without any other utility apart from its claims as a “store of value,” Bitcoin becomes a speculative instrument that resembles a scam.
“A store of value that have [sic] no other utility than being a store of value is just something that you buy hoping that someone is gonna buy it for a higher price later on. And this has another name outside of the cryptocurrency space. It’s called a pyramid scheme,” Séchet said.
Séchet talks about gigabyte-sized blocks that would bring Bitcoin Cash up to Visa and Mastercard scales of around 2,000 tps, adding that the Giga block testnet is ready but still needs some work before full launch.
Watch the rest of his presentation below to get a peek at the future plans for Bitcoin Cash.