On May 15,2021, the Bitcoin Cash network will bring a handful of improvements as it undergoes transformation. This will bring a series of simple and interesting changes on the network.
The upgrade involves the removal of unconfirmed transaction limits, enabling multi OP_RETURND, and the implementation of double-spend proof etc.
As at the time of writing this news, the following information was gathered;
Bitcoin cash network will undergo the process of an upgrade on May 15, 2021, that will bring a handful of improvements. The update involves the removal of unconfirmed transaction limit, enabling multi OP_rETURNS, the implementation of double-spend proofs and the inclusion of a new mining block with default limit size of 8 MB, as the inclusion of CHIPS (cash improve proposals) to introduce new specification changes to the protocol.
These new specific changes are to improve the experience of users and merchants when using bitcoin cash to make online or in-store payments.
The first important change to be absorbed was the removal of unconfirmed chained transaction limit, which will allow users to perform more than 26 chained unconfirmed transactions at a time. This particular procedure for long has been difficult to manage, as it was highly requested by both gambling sites and other high volumes, quick transaction apps that relied on bitcoin cash as payment solution proffer for an update.
Other important updates from the news include;
Another important update was the introduction of double-spend test, that will allow nodes to message certain wallets whenever there is an attempt for double-spending.
This will improvement the security of the 0-conf transaction for applications that use high-volume, high high- value transactions
In conclusion, currently the market is more stable that now allows bfor more experimentation and careful consideration of more radical changes to the protocol of the future upgrade cycle.
What are your thoughts about the upgrade of bitcoin cash scheduled for May 15, 2021?
