Bitcoin Cash (BCH) has confirmed that it will implement a hard fork upgrade for Bitcoin Cash on May 15, which will include a block upgrade to 32M, an OP RETURN data carrier size to 220 bytes, and the addition or reactivation of bitcoin’s banned opcodes.
The hard fork upgrade is only half a month away, and every development team is ready and ready with new code for the hard fork. The ABC team and BU team have released new versions in anticipation of the hard fork upgrade, and Bitcoin XT and Bitprim have completed the necessary code changes. The entire Bitcoin cash community is gearing up for the hard fork upgrade on May 15.
There are also bitcoin cash supporters who have launched a number of applications on the BCH blockchain, such as Memo, a decentralized microblog built on the BCH chain, and Jukebox.Cash, a global music player built on the BCH chain, which have gained great attention. The 220-byte OP RETURN will help these applications develop after the May 15 upgrade.
Upgrade to a stronger Bitcoin Cash (BCH)
The hard fork upgrade brings BCH up to the 32M block limit, after which BCH will be able to handle much larger real-time transactions, increasing the rate and basically meeting the growth in demand on the Bitcoin cash chain for several years. At present, the population of digital currency is still very small, only tens of millions of people in the world. When Bitcoin cash becomes the mainstream, it is far from enough to deal with the upper limit of 32M block chain for human level transactions. Therefore, BCH insists on gradual linear expansion, and gradually expands according to the current user needs and technical level.
The reason why Bitcoin can attract so many people’s attention and become an asset with a market value of 100 billion today is that the design of bitcoin is strong and attractive at the beginning. Although the market value of BCE has been reduced again and again, it cannot negate the design of previous bitcoin. The expansion of BCH to 32M is a continuation of Nakamoto’s white paper’s plan to expand Bitcoin to a larger block cap to cope with the growing number of users. As for the problem of nodes and bandwidth Satoshi nakamoto has long been determined.
“Long before the network gets anywhere near as large as that, it would be safe for users to use Simplified Payment Verification (section 8) to check for double spending, which only requires having the chain of block headers, or about 12KB per day. Only people trying to create new coins would need to run network nodes. At first, most users would run network nodes, but as the network grows beyond a certain point, it would be left more and more to specialists with server farms of specialized hardware. A server farm would only need To have one node on the network and the rest of the LAN connects with that one node.”
Satoshi nakamoto pointed out that ordinary users do not need to run nodes, by professional service room to build “a” node on the Internet.
In the future, there may be RSK, Dye coins, smart contracts, etc. deployed on the Bitcoin Cash network. The opcodes added or reactivated are all in preparation for the diversified development of Bitcoin Cash in the future. To be sure, bitcoin Cash, which was upgraded on May 15, is more competitive, a stronger Bitcoin Cash.