- The usability-focused Bitcoin hard split, known as Bitcoin Cash, is getting ready for a blockchain-wide update that is scheduled for May 15.
- By implementing the adaptive blocksize limit mechanism, the upgrade eliminates the possibility of social attacks and enables the network to adjust to future spikes in demand without the need for direct player involvement.
Adaptive Blocksize Limit Algorithm to Be Added to Bitcoin Cash in May 15th Upgrade
With a network-wide upgrade scheduled for May 15, Bitcoin Cash, a top-15 cryptocurrency that prioritizes usability, is getting ready to make major structural changes.
This update, dubbed “Jessica,” aims to ready the network for a potential spike in transaction demand by introducing an adaptive blocksize limit algorithm (ABLA) that enables quick congestion responses without the need for outside intervention. Last year, the network added Ethereum-like smart contracts.
The algorithm is in line with a suggestion from CHIP-2023-04, which outlines the advantages this modification offers the network. ABLA uses the evolution of mined blocks as an input to automate Bitcoin Cash’s response to an abrupt increase in block size consumption.
This implies that rather than relying on human interactions that ask for network participants’ consensus, the blockchain will respond to these changes automatically.
This gives the network benefits and shields it against social attacks by giving the algorithm itself control over decision-making. Social attacks resulting from disagreements are made possible by the proposal, which emphasizes that “needing to coordinate manual increases to Bitcoin Cash’s blocksize limit incurs a meta cost on all network participants.”
Prominent BCH developer Mathieu Geukens emphasized the importance of this update as a social mechanism to prevent infighting, emphasizing that a hardcoded limit is a matter of ongoing discussion over whether and by how much to raise it.
This update addresses “an economic vulnerability that was introduced in 2010 and led to the BCH/BTC network split in 2017,” according to Bitcoin Cash developer Jason Dreyzehner. Dreyzehner added that, as has been the case with previous chains, ABLA resolves the false blocksize scarcity brought on by a fictitious increase in transactions that force users to employ “custodians, intermediaries, and competing networks.”
Although the introduction of ABLA won’t affect anything anytime soon because the network demand today is far from reaching the current limit, it does show that Bitcoin Cash is committed to quickly meeting any future demand rises. Additionally, the suggested modifications keep the floor value of 32 MB, ensuring that the network has “stand-by” capacity even during periods of low usage.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
