Bitcoin Cash was officially updated the Protocol of the blockchain, increasing the block size four times from 8 to 32 MB. This change of consensus is one of the largest increases in the size of the block in the history of the block chain. In addition, the update will also allow a better understanding opcodes Satoshi, in the future will allow to code colored coins and binary options.
Bitcoin Cash (BCH) has updated the basic block size from 8 MB to 32 MB. The implementation of the new rules of consensus entered into force on the block 530356, and while the transition was smooth. At the moment the community waits for the subsequent concession blocks. Miners and other full nodes BCH have already updated their clients to the latest version of the Bitcoin client ABC 0.17.1 and other support implementation, such as Bitcoin Unlimited, and XT.
As part of the upgrade increased the block size to 32 MB and the default size for the data to be transferred to 220 bytes. In addition, has been re-enabled previously disabled opcodes Satoshi.
The increase in block size
The first and the biggest change of the rules of the consensus Bitcoin Cash, obviously, is to increase the block size four times. Increase the block size to 32 MB to allow for a large number of transactions through the network for a low fee. Currently, the BCH number of transactions daily and is growing steadily, and since the basic block size has increased four times compared to its initial value, the blocks now will not be filled for a very long time.
The potential of this mechanism has been proven many times, as in the past nine months has been processed many blocks BCH in size from 2 to 8 MB. For example, only sixteen days after hard forks August 1 mining pool Viabtc processed block BCH in size of 8 MB, which is time released over 37,000 transactions.
Another notable change in the Bitcoin network Cash increased default size for the data to be transferred from 80 to 220 bytes. This will allow you to activate OP_Return, which is a relatively inexpensive way to add data to the chain of BCH. In fact, OP_Return is a scripting code that is used to mark transaction as invalid, but many cryptocurrency enthusiasts believe that the OP_Return function is also designed to record a large number of different data, not just financial transactions.
However, in 2014, the developers of BTC believed that «storing arbitrary data in the blockchain is a bad idea», and encouraged users to store «non-financial data in another place.» OP_Return was in the database of Bitcoin since its launch. In February 2014, the 80-byte OP_Return was reduced to 40 bytes, but in 2015 has been increased back to 80 bytes. The majority of the developers at the time considered this type of use of the blockchain as a «spammer», which ultimately fanned the network.
But even when the developers warned that the use of OP_Return was «a bad idea», people and organizations continued to use the function to add different data. Two organizations — layer Omni and Counterparty showed that the use OP_Return to store such data can be an innovative solution in the area of building a meta-Protocol on top of secure blockchain. However, when the blocks are completed and the network is congested, they can affect Commission.
Update chains up to the BCH block size of 32 MB and increasing the size of the default data to be transferred to 220 bytes will introduce various innovative solutions for example, adding of new functions in applications such as Memo, Counterparty Cash, Blockpress and many other platforms.
Another important update for the network was to reactivate
previously disabled opcodes Satoshi — codes, performing certain operations using internal stack language called Script.
Many believe that Script is very similar to the programming language Forth is another language and software environment on the stack. In the original Bitcoin client network Creator Satoshi Nakamoto has added opcodes to the software, which can perform various operations related to simple arithmetic and processing lines. Most of the original opcodes were disabled in earlier clients, and many believe that this language can bring new features to the Bitcoin network Cash.
Opcodes that are implemented in the network BCH, will improve our understanding of the codes that initially added Satoshi. If you succeed, then developers can improve the implementation of binary operations and options using code OP_Datasigverify and maybe OP_Group in the future.
Other supporters of the BCH believe that most of these opcodes will bring in a network of many such innovative features as transactions with multipolicy, colored coins or tokens representative, compilers are smart contracts and delivery methods with zero confirmation.
Not the last update
The update is the first step on the way to many innovations, which supporters say BCH for more than a month. It also discusses a number of other developments, such as notifying the nodes about the duplication of transactions in the new PoW called Bobtail. In addition, programmers study Protocol Graphene
and other concepts that can add a rich feature set of a chain of BCH. Update block size to 32 MB has been a successful fork of BCH to the community, and, most likely, in the future it will have many other updates.