The Battle for Siacoin

It could be the title of a film and maybe it will become one, with the battle gearing up to keep $200 million siacoin blockchain free from corporate interference. According ot Coindesk it is already descending into chaos as the companies involved fling accusations at each other.

The fight for the code

At the centre of the dispute is the conduct of the protocol’s coders. Why did they make a big push to alter the rules of the blockchain they are working on. Last week, developers including siacoin creator David Vorick proposed changes that would keep some mining equipment operators from earning value by securing the distributed storage protocol.

What this would do is create a siacoin fork that would stop Bitmain, the business based in China that is about to issue an IPO, from delivering its products.

Other blockchain operators are supportive of the coders proposal, but in the case of siacoin, the equipment that would still work is being sold by a company operated by siacoin’s developers. This is a mining company called Obelisk, started by Vorick in 2017. Vorick then announced a service named named “Launchpad,” through which Obelisk would create mining equipment for a wider range of blockchains.

Lawsuits and more lawsuits

The company has received $22 million from siacoin users for the production of mining machines, but the situation has now turned into a web of legal threats and proposals to fork the blockchain.

Vorick told Coindesk: “Things are very chaotic right now, and the situation is complex. We’re trying to do the right thing, but it’s not obvious to us what the best way forward is from here.”

This month, two companies have issued lawsuits against Obelisk for failing to deliver the SC1 miner by 30th July as promised. And third-party developer recently quit his engagement with siacoin, stating that the controversy over Obelisk has effectively stalled the platform’s development.

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