Bitcoin Cash reached 32 MB and New Functions.
The Bitcoin Cash Network has successfully updated its Block Size to 32MB, it has officially updated the Blockchain protocol, quadrupled the current size of the block from 8MB to 32MB, which paves the way for mass adoption. The change by consensus is one of the biggest block size increases in Blockchain’s history, and the update also adds the great Satoshi OP_Codes, which could add the ability to code colored coins and binary contracts.
The advancement of the software makes the blocks large enough to process many transactions over time, which gives developers ample room to maneuver to adjust the size if they start to approach their limit.
The implementation of the new rules by consensus came into effect at the height of block 530.356, and so far the transition has been good while the community waits for the next block concession. Miners and other BCH nodes had already updated their clients to the latest version of Bitcoin ABC 0.17.1 and other compatible implementations such as Bitcoin Unlimited and XT in recent weeks as the community prepared for the change.
Among some minor changes, three notable changes have been implemented throughout the network that include a block size of 32 MB, an increase in the size of the data bearer by default to 220 bytes and the enabling of the Satoshi OP_Codes, which were disabled.
The reason developers raised the limit to 32MB is probably because the software is perfectly capable of handling such a task in the future. At this time, the miner sets the size limits of the blocks, and the developers are there to help establish the capacity so that the blocks can not be filled in the immediate future, and the rates would remain low for quite some time.
Another notable change in the Bitcoin Cash network is the increase in the size of the default Blockchain data carrier from 80 bytes to 220 bytes. This allows a robust OP_Return function which is a relatively inexpensive way to integrate data in the BCH chain. Essentially, OP_Return is a script code that is used to mark transactions as invalid, but many cryptocurrency enthusiasts believe that the OP_Return function is intended to record a good data set and not just financial transactions.
Unfortunately, many disoriented people assume that the BCH chain will begin processing 32MB blocks immediately, which could lead to a much larger Blockchain in gigabyte size and take longer to download. However, this is not the case at this time, because BCH miners process blocks that are often below 1MB, since the 32MB code is only configured to ensure that the network is able to do so in the future.
In addition, programmers are studying the Graphene protocol and other concepts that could add a large set of characteristics to the BCH chain. Today’s 32 MB update was a success for the BCH community, and there will most likely be many more updates in the future.
Today’s update is the first step towards many of these innovations and visions that BCH advocates have been talking about for months. And there are a lot of other advances that are being discussed, such as double expense notifications, which inform the nodes when a double expense occurs and a new Work Test (PoW) goal called Bobtail.
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