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Bitcoin Cash Network Discussion February 2021 - Summary

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Written by   148
4 days ago

On February 1st 2021 the second Bitcoin Cash Network Discussions meeting took place over zoom.

The main topic of discussion was the scheduled May 2021 upgrade. All of the major node developers agreed in advance that in order to provide stability and security it would be best not rush consensus level changes to the Bitcoin Cash protocol.

What does this mean to business and users?

First and foremost it means there will be no split. The network will continue on as it is now.

It does not mean there are no new features or upgrades. Each development team will upgrade and improve their software, adding features and options as they develop them. These changes however are all optional and do not affect the Bitcoin Cash network as a whole.

Some improvements currently being worked on are:

  • Double Spend Proofs

DSP will allow wallets to more easily detect if someone attempts to spend the same BCH twice. This will help users avoid fraud.

  • Bit Balancer

A tool that miners can use to prevent accidental splits.

  • Dramatically increasing the transaction chain limit

The limit was increased from 25 to 50 during the last upgrade, but they talked about increasing a lot more. This will allow BCH to do more transfers between wallets before being confirmed in a block.

Check the full video here if you are interested in watching the whole discussion:

People who are interested in development are welcome to join the BCH Dev hangout on discord.

Businesses interested in discussing BCH integration can join the weekly meetup here:

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Avatar for SatoshisAngels
Written by   148
4 days ago
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thank you Satoshi's Angels for the nice summary.

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