Bitcoin Cash Achieves Milestone Upgrade, Unleashing Cashtokens’ Transformative Features – Bitcoin News
On May 15, 2023, the Bitcoin Cash network achieved another annual milestone by seamlessly integrating four cutting-edge features into its consensus rule set. At 1:24 PM UTC on Monday, the eagerly anticipated upgrade was launched, marking a huge leap forward for the peer-to-peer electronic cash platform. Bitcoin Cash enthusiasts believe that transformative changes are set to revolutionize the blockchain ecosystem.
The Bitcoin Cash network leaps forward with 4 new rule set changes
When the bitcoin cash block rises 792,772the network Promoted successfully blockchain. The upgrade is more focused on developer and average Biosafety Clearing-House Users do not need to do anything. Miners and operators of full nodes only need to be upgraded Biosafety Clearing-House Software to be compatible with rule set changes. Over time, specific Bitcoin Cash (BCH) Compatible wallets can also be upgraded and incorporate some new improvements such as Cashtokens.
Today’s upgrade features four new elements including: Cashtokens, allowing transactions to be smaller in size, and P2SH32, restricting transaction issuance. the Allow transactions The rule set changes “prevent hash hash attacks, where SPV wallets can overwhelm a 64-byte transaction of a Merkle node,” according to summary Posted by Coin Dance.
I just updated my portfolio overview for #CashTokens Upgrade!
You can now filter wallets by whether they support cashtokens or not
-> https://t.co/JaTMVAJcI7 pic.twitter.com/nPlCKARy6O
– Mathieu Geukens (@GeukensMathieu) May 15, 2023
“push-to-script-hash-32” (P2SH32) Change Serves as a long-term remedy against 80-bit P2SH collision attacks. The mod introduces an advanced address format designed exclusively for smart contracts, and features enhanced cryptographic security measures.
with submissionRestrict transaction versionsCoin Dance explains that transactions are now strictly limited to version numbers of either 1 or 2. Any blocks containing transactions that defy this rule will be quickly invalidated.
the Cashtokens upgradewhich is eagerly awaited Biosafety Clearing-House Community, It promises a wealth of transformative features, which makes it a more complex optimization. This upcoming upgrade is poised to usher in several developments that will significantly increase network capabilities.
Bitcoin.com News spoke with the developer Jason Dresner about Cashtokens on May 2, 2023, and detailed the potential game-changing impact of the Cashtokens CHIP on Bitcoin Cash. According to Dreyzehner, Cashtokens will offer censorship-resistant, low-fee digital assets that can represent physical assets and act as currencies, stablecoins, securities, and more.
Cashtokens offer many attractive benefits, such as enabling individuals to issue tokens representing a wide range of items. In addition, they offer smart contract functionality that rivals Ethereum but with the advantage of over 1,000 times efficiency in transactions and block verification.
The introduction of Cashtokens also paves the way for the development of low-fee, censorship-resistant prediction markets, while obligations issued by contracts and non-fungible tokens (NFTs) open up exciting possibilities for decentralized applications (dapps). mid promotion, Bitcoin Cash (BCH) It was up 4% against the US dollar on Monday morning.
What do you think of the latest Bitcoin Cash upgrade and the introduction of Cashtokens? Share your thoughts on how these developments can shape the future of the blockchain ecosystem in the comments section below.
Image credits: Shutterstock, Pixabay, Wiki Commons, Coin Dance Cash
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