Bitcoin Cash is preparing to include two significant improvements in its upcoming upgrade. Programmed to take place on 15 May, the Bitcoin Cash Improvement Proposals (CHIPs) approved for inclusion are CHIP-2021-03, which brings larger script integers into the chain, and CHIP-2021-02, which is accompanied by activation. It is intended to simplify the writing of native introspection opcodes, called covenant smart contracts.
Bitcoin Cash prepares contract-focused upgrade
A new upgrade to the new one-year Bitcoin Cash upgrade schedule is on the horizon, modified from its previous six-month cycle during last year’s upgrade. This time, the improvements to be included in the Bitcoin Cash blockchain were decided using CHIP, the Bitcoin Cash Improvement Proposals, which allow the community’s public discussion on the proposed upgrade. This new MO was also approved during last year’s upgrade, which happened on May 15, 2021.
This year’s improvements are aimed at improving performance and simplifying the way programmers write covenants, which are smart contracts that make rules on how money can be used in transactions. The two chips included in this upgrade are intended to allow Covenants to be more accurate and more useful while expanding their functionality.
Chips Explained
The first CHIP to be implemented in an upgrade to BCH is CHIP-2021-03, which introduces large script integers in series. The specification states that large, 64-bit integers will be allowed, and that these integers can be multiplied directly in code. This will improve the functionality of these contracts by allowing programmers to access more value without having to design workarounds, as well as reduce redundancy and transaction size.
CHIP-2021-02, which enables native introspection opcodes, will allow programmers to take information from the same transaction they are working on to include them in any covenants. This means that programmers will be able to queue up information from a transaction using separate, new opcodes. The implementation of this chip aims to reduce the complexity of code in covenants and allow new use cases to arise due to the new functions provided by opcodes.
Upon upgrade, Jonathan Silverblood, a developer involved in the proposal to implement the two chips, Having said,
Prior to this upgrade, anyone who wanted to create smart contracts could not multiply two numbers in code. They needed to understand how to (ab)use transaction signing mechanics to check who was being paid to whom, and how much was being paid. After that we got a solid foundation to build on.
Normal Bitcoin Cash users will not have to make any changes to support this upgrade. Node operators must upgrade to the latest version of their node software to avoid service interruption.
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