Friday, December 2, 2022

Bitcoin ABC Says ‘Great Money’ Is Top Priority for Bitcoin Cash in 2018

Bitcoin ABC Says ‘Great Money’ Is Top Priority for Bitcoin Cash in 2018

The developers behind Bitcoin Cash protocol Bitcoin ABC say scalability and reliability with low fees are the top priorities for the coming year. The team also set a timetable for technical upgrades and plans for “enhanced features” to improve BCH’s appeal as a cryptocurrency and as electronic money for daily spending.

Also read: Bitcoin Is $10,000 – It Actually Happened, Folks

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Tentative Plan for ‘Adaptive’ Block Sizes

Most notably, there’s a (tentative) plan to increase ABC’s default 8 MB transaction block limit, and move towards an adaptive block size.

Bitcoin ABC logoOther suggestions are further improvements to the Difficulty Adjustment Algorithm (DAA), reactivating previously deactivated Opcodes, and altering transaction order rules.

Those plans aren’t set in stone, however, and are subject to discussion and testing before making their way into production code.

Bitcoin ABC (for “adjustable blocksize cap”) is now the primary protocol software on the Bitcoin Cash blockchain. However its developers work in communication with a number of other independent projects to build the BCH ecosystem. They include Bitcoin Unlimited, Bitprim, nChain, Bitcrust, ElectrumX, Parity, and Bitcoin XT.

Bitcoin ABC Priorities and Basic Timetable

The developers posted ABC’s “Medium Term Development Plan” on its website, covering the next 6-12 months. The main focus will be on Bitcoin Cash’s fundamentals:

“Our top priority for Bitcoin Cash is to keep improving it as a great form of money. We want to make it more reliable, more scalable, with low fees and ready for rapid growth. It should “just work”, without complications or hassles. It should be ready for global adoption by mainstream users, and provide a solid foundation that businesses can rely on.”

More enhanced features, like timestamping, representative tokens and more complex transaction scripting would come only “when it is safe to do so”.

There’s a planned protocol upgrade scheduled for May 15th 2018, with a second on November 15th the same year. Developers also called for more to join in and work on/test the new features, saying “we need to be proactive”.

A non-contentious hard fork to improve the DAA happened two weeks earlier on November 13th, 2017. The new algorithm was designed to improve Bitcoin Cash’s often-erratic block confirmation times and difficulty swings, caused by miners switching between BCH and BTC according to which was more profitable at the time.

What’s your prediction for Bitcoin ABC and Bitcoin Cash in 2018? Let us know in the comments.

Images via Bitcoin ABC, Pixabay

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