Bitcoin Cash May 15, 2022, upgrade, stay informed, and be prepared

The Bitcoin Cash Network upgrades every 6 months to improve the technical aspect of the chain. The last upgrade was done on November 15th, 2021 which saw some major developments and improvements to the protocol. Two major upgrades were enforced on the protocol which was the removal of the unconfirmed transaction limit to allow the Network to handle more transactions without a delay in confirmation time. In addition, Multiple OP RETURNs that makes storing information in the Bitcoin cash network possible without causing a problem on the network were introduced.

Expectedly, the Bitcoin Cash network will be updated again in nine days from now to bring further improvements to the network. As a Bitcoin Cash Network user and one who is passionate about this protocol, it is appropriately right to keep yourself updated about the technical aspect of the network. The upcoming updates will see some major technical improvements to the network and as such, everyone should keep themselves updated about the matter.

Going by my findings from research, the coming upgrade to Bitcoin Cash will surely take the chain further in terms of technological advancements and will definitely affect Bitcoin Cash in the long run. Since Bitcoin Cash is not only related to the Bitcoin network functionalities, the entire Bitcoin Cash community should also keep itself updated about this matter so that they don’t suffer any changes with the coming upgrade.

Specifically, the coming upgrade will focus on improving the various Nodes presently running on the network to enable them to process and allow them to handle the heavy load of the mining and transactions activities. Additionally, the Upgrade will enable some new and innovative financial services and products with an expanded arithmetic range which will allow contracts to handle huge balances with accurate precision, while also enabling contract-based treasuries and improving the efficiency of existing contracts designs.

The upgrade will also see the addition of new operations like native introspection operations. The functions of these new operations include the development of far more secure wallets, efficient recurring payments, and more. This upgrade will provide the requisite infrastructure required to manage and process much more large transactions than in the past.

Presently, some of the node operators have already released their latest versions of compatible nodes to be added to the upgrade. Among these node operators are; Bitcoin Cash Node, Bitcoin Verde, Knuth, and Bitcoin Unlimited. New node operators like BCHD, and Flowee the Hub are yet to release a compatible version of their nodes for the upgrade.

It is expected that new node operators will soon release compatible nodes for the upgrade. Since there are still about 9 days till the upgrade event, developers are still in the process of verifying and confirming compatibility. During this phase, more reliable sources of news are always needed.

A little dive into the new node BCHD

BCHD is a Go implementation of the BCH protocol. It is fully compatible with the Bitcoin Cash protocol and has a number of developer-friendly features. One of the most notable of these features is its modular nature; the open-source project enables BCHD to be easily customized, adapted, and extended by its users.
Using BCHD eliminates the running of an indexing server with your node. Previously, developers had to install Electrum X or BitPay's Insight in addition to their entire node. That's not needed anymore with BCHD. BCHD is a single application that validates blocks and serves data from the index. Every address and transaction on the Bitcoin Cash chain is indexed by BCHD. BCHD is an out-of-the-box solution for developers.

Furthermore, The BCHD protocol comes with Bitcoin Cash Wallet functionality. The backend code is already created to enable projects that require Bitcoin Cash wallet functionality to run effortlessly without additional code. The wallet functionality is built on top of the BCHD protocol.

To know more about the new node BCHD, take a look at the website; https://bchd.cash/

Conclusion

With the upgrade of the Bitcoin Cash Network protocol going live in a few days, the Bitcoin Cash community will witness a significant amount of technological progress for its platforms. A major improvement will be seen in the transfer speed of the Bitcoin Cash Network compared to what we have presently. However, the greatest long-term impact on the Bitcoin Cash network will be seen in the creation of new innovations.

These innovations will come through the enhanced developer environments with the added new operations, security enhancements, and protocols. Bitcoin Cash is ushering in a new era where innovations can happen right at the core of the Bitcoin Cash platform. The new upgrade will surely change the face of Bitcoin Cash forever.

Info source: https://bch.info/upgrade
Lead image source: bch.info webpage cover image