Bitcoin Cash will be making two major improvements to its next upgrade. Two significant improvements to Bitcoin Cash are scheduled to take place on May 15. They include CHIP-2021103, which adds larger script integers to its chain, as well as CHIP-20221-02, which activates native introspection code opcodes. This will simplify writing smart contracts, called covenants.
Bitcoin Cash prepares a contract-focused upgrade
A new upgrade is on the horizon in the new one-year Bitcoin Cash upgrade schedule, modified from its previous six-month cycle during last year’s upgrade. These improvements were made using the CHIPs, Bitcoin Cash Improvement Proposals. This allows for the open discussion among the community about the planned upgrades. This new MO was also approved during last year’s upgrade, which happened on May 15th, 2021.
This year’s improvements aim to enhance performance and facilitate programmers in writing covenants. These smart contracts enact rules regarding how funds may be used. Two CHIPS are included as part of this upgrade to make covenants more accurate and useable, thus extending their functionality.
CHIPs explained
The first CHIP to be applied in BCH’s upgrade is CHIP-2021-03, which introduces bigger script integers to the chain. The specification states that bigger, 64-bit integers will be allowed, and these integers will be able to be multiplied directly in code. This will improve the functionality of these contracts by allowing programmers to harness more value without having to design workarounds, also reducing redundancy and transaction sizes.
CHIP-2021-02, which enables native introspection opcodes, will also allow programmers to take information from the same transaction they are working on to include them in any covenant. This means that programmers will be able to queue information from transactions using different, new opcodes. The implementation of this CHIP aims to reduce the complexity of the code in covenants and to allow new use cases to arise due to the new functions provided by the opcodes.
On the upgrade, Jonathan Silverblood, a developer involved in the proposal of the two CHIPs to be implemented, stated:
Anyone who was looking to create smart contracts before this upgrade could not multiply 2 numbers in code. To check who was being paid and for how much, they needed to be able to use the transaction signing mechanisms. We had a good foundation to work from.
To support the upgrade, normal Bitcoin Cash users won’t need to do any modifications. To avoid interruptions in service, node operators must upgrade to the most recent version of their nodesoftware.
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