Bitcoin Cash is preparing to add two important improvements in the upcoming blockchain upgrade, which is planned for 15th May. The Bitcoin Cash Improvement Proposals (CHIPS) were approved to be added to the CHP-2021-03, which brings a larger script of integers to the chain. The next, CHIP-2021-02, which also deals with the activation of native introspection opcodes, will be used to simplify the process of writing smart contracts referred to as Covenants.
Bitcoin Cash to Unveil Contract Focused-Focused Upgrades
A new upgrade is in the offing in the 12-month Bitcoin Cash upgrade schedule, which is a shift from the previous 6-month cycle following the upgrade of 2021. Unlike in the past, the upcoming upgrades on the Bitcoin Cash blockchain were arrived at using CHIPs, which are Bitcoin Cash Improvement Proposals that provide for community discussion on the suggested upgrades.
The improvements expected on 15th May 2022 are aimed at enhancing the performance and the programs for writing covenants, which are smart contracts designed to implement rules on funds utilization in transactions on the blockchain. The two CHIPs in the upgrade will make it possible to extend the functionality of smart contracts, making them more useful and precise.
How Do the CHIPs Work?
The first CHIP to be added to the blockchain is CHIP-2021-03 which supports bigger script integers to the blockchain. The update specification indicated that 64-bit integers would be allowed, and they can be multiplied directly in the code. This is expected to improve the covenant functionality by allowing programmers to harness greater value without designing workarounds and reducing transaction sizes.
The next upgrade, CHIP-2021-02, allows native introspection opcodes so that programmers can pick information from a transaction they are handling to add them into a covenant. After the upgrade, it implies that programmers will be able to line up information from various transactions with new opcodes. The ultimate goal for this CHIP is to cut down the complexity of the code in smart contracts and enable new use cases to be added to the opcodes.
According to Jonathan Silverblood, a developer who was involved with the proposal, building smart contracts was very challenging for programmers. “Before this upgrade, anyone who wanted to build smart contracts could not multiply two numbers in code. They needed to understand how to (ab) use the transaction signing mechanics to determine who is being paid …” added Silverblood.
Normal Bitcoin Cash users do not need any changes regarding these upgrades. Node operators, however, will need to upgrade their software to avoid interruptions.