Yes, as Postdog says, it is shrinkage caused by the loss of water and other volatiles. If the wood was to dry out slowly (as when it is seasoned, or kiln-dried) then the whole piece of wood shrinks evenly to smaller dimensions. The heat of a fire however has the greatest effect on the outside of the wood whilst the insulating properties of the wood largely protect the interior. As the outside shrinks, it no longer fits around the still intact core, so it splits much like mud does when a reservoir dries up in summer.