The update is to bring more reliability and make procedures more robust and effective and overall increase the confidence of the users in the network.
Important Note
“In this update, all nodes don't need a compulsory upgrade. This move is to avoid any splits in the network and keep the community together and cover the risk of any potential splits. ”
Key features
1- Annual Upgrading instead of every 6 months
2-Removal of unconfirmed chained transaction limit
3- Default mining limit is increased
4- Double spend Proofs
5- Cash improvement protocols
These are some of the new features that we will cover in this article briefly.
Removal of unconfirmed chained transaction limit
To stop gambling on transaction this new feature will be introduced. To explain this process this happens when users keep spending a transaction that has an unconfirmed parent transaction. This threshold before this update is 50 transactions without confirmation. Now this issue will be addressed in a safe manner.
The @RogerVer have been a critic of this practice that will now be addressed in this upgrade.
Annual Upgrading instead of every 6 months
To make the process more reliable and robust for businesses, exchanges and miners is step would prove to be very important and will attract more users in the ecosystems of BCH as a whole. The one-year update schedule will bring more stability and strength to the network as more stakeholders will be tempted and internally more testing and discussion would take place inside the BCH network.
Double send Proofs
Double spends proofs is a great new addition that will reinforce and strengthen the security and trustworthiness of the network for merchants. They will feel more confident with the introduction of this feature and this will attract more market share and users.
More to explore in the follow up articles.......