Bitcoin Cash (BCH) is set to undergo a significant network upgrade on May 15, introducing a 32MB block size increase and enhanced protocol functionalities. The community, developers, and infrastructure providers are actively preparing for this consensus change, ensuring seamless adoption.
Key Features of the May 15 Upgrade
1. 32MB Block Size Expansion
- Enables higher transaction throughput, catering to global scalability.
- Reduces fees, making on-chain transactions affordable for users in developing economies.
- Current data shows BTC fees are 10.73× higher than BCH.
2. Tokenization and Smart Contracts
- New OP_Codes and expanded OP_Return data allow:
- Creation of tokenized assets (e.g., bonds, stocks, commodities).
- Execution of simple smart contracts (e.g., automated inheritance distribution).
- Eliminates reliance on platforms like Ethereum for tokenization.
Community and Developer Preparedness
- 62% of BCH nodes (running Bitcoin ABC client) are upgrading to ABC 17 for compatibility.
- Other clients like Unlimited, Parity, XT, and Bitprim are also releasing updates.
👉 Explore BCH’s latest developments
Node Upgrade Status
| Client | Upgrade Status | Key Changes Supported |
|---|---|---|
| Bitcoin ABC | 58% migrated to v17 | 32MB blocks, OP_Return expansion |
| Bitcoin Unlimited | Public release v1.3.0.0 | New opcodes, consensus rules |
| Parity | Code updates in progress | Expected by May 15 |
Future Innovations Post-Upgrade
- UTXO Delegation: Research by Bitcoin ABC team.
- Improved DAA: Collaboration between ABC/XT for PID-controlled algorithms.
- Graphene Block Propagation: Tested by BU for efficiency.
FAQs
Q: Why increase BCH’s block size to 32MB?
A: To support mass adoption with low fees and faster transactions.
Q: Can BCH now compete with Ethereum’s smart contracts?
A: While simpler, BCH’s contracts enable basic automation and tokenization.
Q: How does this upgrade affect node operators?
A: Mandatory updates are required to stay synced with the network.
Q: Will 32MB blocks impact decentralization?
A: BCH advocates argue hardware advancements offset storage concerns.
👉 Stay updated on BCH’s progress
The May 15 upgrade solidifies BCH’s vision for scalable, low-cost digital cash with advanced functionalities. The community’s coordinated efforts highlight confidence in Bitcoin Cash’s roadmap.
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