Home>EXCHANGES>What to Expect From the Next Bitcoin Cash Protocol Upgrade
EXCHANGES

What to Expect From the Next Bitcoin Cash Protocol Upgrade



On November 15, shortly after 12 p.m., Bitcoin Cash (BCH) will execute an upgrade of the network’s consensus rules. After the upgrade is locked in, the next block will enforce minimal pushdata in script and the opcodes OP_Checkmultisig and OP_Checkmultisigverify will be upgraded to accept Schnorr signatures.

Also Read: QE Infinity: 37 Central Banks Participate in Stimulus and Easing Practices

Delivered Code

Next Friday, Bitcoin Cash proponents will be watching the BCH chain upgrade the current consensus ruleset in order to add two new features. Developers have been discussing the upgrade for months now and have explained in great detail at developer meetings how the changes apply to the BCH roadmap. Since August 1, 2017, BCH developers have produced a significant number of protocol developments that are unique to BCH. For instance, BCH engineers have increased the block size to 32MB, allowing for a lot more throughput than a 1MB block.

What to Expect from the Next Bitcoin Cash Protocol Upgrade

In September 2018, BCH surpassed BTC’s daily transaction count by processing millions of transactions in a single day. Bitcoin Cash programmers have re-enabled the old Satoshi opcodes, which can allow for a variety of decision-based transactions, compilers, and other functions. The added opcodes allow for the implementation of OP_Checkdatasig which can be used to calculate the hash within a transaction in order to validate signatures in an automated way. Bitcoin Cash developers also increased the network’s default Data-Carrier-Size to 220 Bytes.

What to Expect from the Next Bitcoin Cash Protocol Upgrade
The two new upgrades coming to Bitcoin Cash on November 15, 2019. If you are a miner or run a full node make sure you upgrade your Bitcoin ABC, Bitcoin Unlimited, BCHD, Flowee, or Bitcoin Verde client before Friday.

BCH engineers did not stop there and at block 582680, the blockchain upgraded by adding the basic foundations of the Schnorr signature protocol. The upgrade prior to the Schnorr feature saw the implementation of Canonical Transaction Ordering otherwise known as CTOR. With CTOR the BCH chain can essentially work with blocks as a set, as opposed to list ordering as the process is done in a canonical manner. According to Coin Dance statistics, BCH developers have added 20 different components to the protocol, there’s another 20 under development, 15 features being discussed and two new properties pending activation. The two added components being implemented to the BCH blockchain consist of a finalized malleability vector (enforcing minimal pushdata in script) and Schnorr signature support for both OP_Checkmultisig and OP_Checkmultisigverify.

Two New Ruleset Changes

The first change will curb malleability vectors on the network by applying the Minimaldata rule. “This removes the final BIP 62 malleability vector, and means that most of the transactions on the Bitcoin Cash network (including all P2PKH transactions) will now be non-malleable,” the November 15 upgrade documentation explains. While bitcoin transactions are signed, signatures don’t encompass all the data hashed and it’s possible for nodes to pervert the transaction by invalidating the hash.

What to Expect from the Next Bitcoin Cash Protocol Upgrade
Read about the Minimaldata rule here.

There are various forms of malleability vectors in scriptSig and signatures, and in 2014 BIP62 was introduced in order to deal with the problems. Over the last few years, many types of solutions have been attempted in order to confront third-party malleability vectors. After the network upgrade next Friday, a majority of bitcoin cash transactions will not be third-party malleable and the enforced Minimaldata rule should also strengthen Simplified Payment Verification (SPV) clients.

The second added feature coming to the BCH chain is support for OP_Checkmultisig (Verify) in order to complement the first iteration of Schnorr signatures. “This upgrade extends that support to OP_Checkmultisig and after this upgrade, all signature checking operations will support Schnorr signatures,” the upgrade documentation reads.

What to Expect from the Next Bitcoin Cash Protocol Upgrade
Read about Schnorr support for OP_Checkmultisig (Verify) here.

The new feature will allow for more complex mechanics to multi-signature transactions that will benefit from the Schnorr mechanism. “Schnorr aggregated signatures (with OP_Checksig) are one way to do multi-signatures, but they have different technical properties than the familiar Bitcoin multisig, and thus are far from being a drop-in replacement for it,” the November 15 specification notes. The summary adds:

Besides that, it is also desirable that any existing coin can be spent using Schnorr signatures, and there are numerous OP_Checkmultisig-based wallets and coins in existence that we want to be able to take advantage of Schnorr signatures.

Upgrading Nodes and Where to Watch

Bitcoin Cash fans are excited about the next upgrade and network participants have been steadily preparing for the changes. Ordinary users won’t have to do anything before the network changes take effect. Miners and node operators, however, are encouraged to download and run the latest version of a BCH client that supports the November 15 ruleset changes.

What to Expect from the Next Bitcoin Cash Protocol Upgrade
Watch the countdown to the Bitcoin Cash network upgrade here.

Currently Bitcoin ABC, Bitcoin Unlimited, BCHD, Flowee, and Bitcoin Verde are all ready to accept the new rules, and at press time 68% of all publicly accessible BCH nodes show upgrade support. Every day enthusiasts and proponents who don’t mine or run a node can simply watch the upgrade online using a data site like Coin Dance or Fork Monitor. On November 15, both websites will let people know exactly when the consensus changes are executed.

For more information regarding the November 15 Bitcoin Cash upgrade, you can read the specifications on Github.

What do you think about the upcoming Bitcoin Cash upgrade scheduled for November 15? Let us know what you think about this subject in the comments section below.


Image credits: Shutterstock, Twitter, Github, Coin Dance, Wiki Commons, and Pixabay.


Did you know you can buy and sell BCH privately using our noncustodial, peer-to-peer Local Bitcoin Cash trading platform? The Local.Bitcoin.com marketplace has thousands of participants from all around the world trading BCH right now. And if you need a bitcoin wallet to securely store your coins, you can download one from us here.

The post What to Expect From the Next Bitcoin Cash Protocol Upgrade appeared first on Bitcoin News.

 

source: https://news.bitcoin.com/what-to-expect-from-the-next-bitcoin-cash-protocol-upgrade/

TheBitcoinNews.com is here for you 24/7 to keep you informed on everything crypto. Like what we do? Tip us some BAT

Send Tip now!

More Bitcoin News and Cryptocurrency News on TheBitcoinNews.com





  • Bitcoin
  • Ethereum
  • Bitcoin cash
  • Litecoin
  • Cardano
  • Dash
  • Stellar
  • Ethereum classic
  • Lisk
  • Tron
  • Neo
  • Qtum
  • Omisego
  • Binance coin
  • Zcash
Scan to Donate Bitcoin to 1J6PGL1oemFb3hxabLygq4WgWx8cbfji1r

Please help us if you can with some Bitcoin

Scan the QR code or copy the address below into your wallet to send some Bitcoin

Scan to Donate Ethereum to 0xA8E701dd11280a98e8F2e0A14064AC829E32D50F

Please help us if you can with some Ethereum

Scan the QR code or copy the address below into your wallet to send some Ethereum

Scan to Donate Bitcoin cash to qrth4e0g93h3gpxex8ycwuxtsa332tha5qvkmlz0g5

Please help us if you can with some Bitcoin cash

Scan the QR code or copy the address below into your wallet to send some Bitcoin cash

Scan to Donate Litecoin to LTxxjySMDtERJhHYJ99UFW9AamAWTwCAZ4

Please help us if you can with some Litecoin

Scan the QR code or copy the address below into your wallet to send some Litecoin

Scan to Donate Cardano to DdzFFzCqrhsopoZLhbouUwh2NvvWMPeFrXQW9vNNpPKrjKbRGyLRN5joJgCeZ6e1MRHtPHeLffpkNpQs5AdDA8qFCZ4gA9bYtaerNQTk

Please help us if you can with some Cardano

Scan the QR code or copy the address below into your wallet to send some Cardano

Scan to Donate Dash to XmAdEHrwiVZJVkAxe8hK5U6HZB59L5yhmK

Please help us if you can with some Dash

Scan the QR code or copy the address below into your wallet to send some Dash

Scan to Donate Stellar to GD4KROE42HPOMT7BT6M27HHLFCOSIXPYY2V3WSCX5FYEWRJDIJQ4RWFT

Please help us if you can with some Stellar

Scan the QR code or copy the address below into your wallet to send some Stellar

Scan to Donate Ethereum classic to 0x5BF3fCAC8deA20CF21C9D0D9d058E00EEfc431Ae

Please help us if you can with some Ethereum classic

Scan the QR code or copy the address below into your wallet to send some Ethereum classic

Scan to Donate Lisk to 15642042552518336132L

Please help us if you can with some Lisk

Scan the QR code or copy the address below into your wallet to send some Lisk

Scan to Donate Tron to TYnAenRiV6BsTiE6FVyAcDDxZtBKUQTFxN

Please help us if you can with some Tron

Scan the QR code or copy the address below into your wallet to send some Tron

Scan to Donate Neo to ATiXRHVqYqrNktbxJfcDETfnrSUWSG4cPb

Please help us if you can with some Neo

Scan the QR code or copy the address below into your wallet to send some Neo

Scan to Donate Qtum to QUYXxY6kX7TY2HSLwVYMwFaJNZLwvX5uyp

Please help us if you can with some Qtum

Scan the QR code or copy the address below into your wallet to send some Qtum

Scan to Donate Omisego to 0xA8E701dd11280a98e8F2e0A14064AC829E32D50F

Please help us if you can with some Omisego

Scan the QR code or copy the address below into your wallet to send some Omisego

Scan to Donate Binance coin to 0xA8E701dd11280a98e8F2e0A14064AC829E32D50F

Please help us if you can with some Binance coin

Scan the QR code or copy the address below into your wallet to send some Binance coin

Scan to Donate Zcash to t1cBCyKgSSqWaNrkpvQZUSTuxMmAbbAyFpZ

Please help us if you can with some Zcash

Scan the QR code or copy the address below into your wallet to send some Zcash



Source link

Review Overview

Summary