The latest cryptocurrency news show that there is an upcoming and new Bitcoin Cash (BCH) protocol upgrade which will likely introduce a lot of nice things in the network and its consensus rules. After the upgrade is locked in, we could see the next block enforcing minimal pushdata in script and the opcodes will probably be upgraded to accept new signatures.
The new Bitcoin Cash protocol upgrade is scheduled for next Friday (November 15th) when the proponents will be watching the BCH chain upgrade and the current consensus ruleset that will add two new features.
As developers noted, there are major discussions about the upgrade for some time now. They explained in great detail how the developer meetings talked about the changes – and how they will apply to the BCH roadmap. Ever since August 1 2017, BCH developers have been producing a significant number of protocol developments which are unique to BCH. One of them, for example, is the block size, which was increased to 32MB and now allows for a lot more throughput than a 1MB block.
The new Bitcoin Cash (BCH) protocol upgrade also follows the news that BCH surpassed BTC in its daily transaction count. Bitcoin Cash programmers managed to up the number of processed transactions to millions in a single day. They also re-enabled the old Satoshi opcodes which can allow for a variety of decision-based transactions, compiling features and other functions.
Speaking of, the added opcodes will allow for the implementation of the OP_Checkdatasig opcode which can be used to calculate the hash within a transaction and validate signatures in an automated way.
The new Bitcoin Cash (BCH) protocol upgrade will introduce a lot of new things. As it stands, the blockchain was upgraded by adding the basic foundations of the Schnorr signature protocol. Before this, there were a set of new other upgrades and improvements. According to data from Coin Dance, the Bitcoin Cash developers have added 20 different components to the protocol – and there are another 20 under development and 15 new ones being discussed.
Less than two weeks until the Bitcoin Cash network upgrade!
— Bitcoin ABC (@Bitcoin_ABC) November 4, 2019
With the two new ruleset changes and a lot of new improvements, the new Bitcoin Cash protocol is definitely going to ramp up the operations and possibly increase the price of BCH. As it stands, the cryptocurrency is trading below $290 and with a possibility to breach the $300 mark soon.
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