BCH: Looking back and Moving forward

  1. (HF) Groups: Miner enforced, script-aware fungible and nonfungible tokens, with covenants (contracts that are applied by the token originator to any token transaction). A quantity of BCH can also be placed within a group and therefore be controlled by a covenant.
  2. (HF) Smart contract features: OP_PUSH_TX_STATE (transaction introspection), OP_BUFFER (allows large P2SH scripts), OP_PLACE, OP_EXEC (interfaces the covenant with the redeem script), and others as they become apparent. Groups and these smart contract features combine to provide efficient DeFi capabilities, competing with Ethereum and drawing developers to BCHfork. (Groups, covenants and smart contracts together allow any rule expressible in BCH script to apply to an “opt-in” subset of BCH or to a token. These technologies taken together allow any new BCH script expressible consensus rule to be imported into the blockchain. This functionality will massively reduce the pressure to hard fork to add extra features. It is even possible to constrain the use of new opcodes to specific groups, so that only BCH and tokens in such a group can use the new opcode. If groups are used in this fashion, the risk of deploying new opcodes is reduced since only the value within these groups are exposed to the new opcodes.)
  3. (no fork) Doublespend notifications and deep DS notifications
  4. (no fork) Deep unconfirmed transaction chains
  5. (HF) Large Integer opcodes. This is fundamental smart contract infrastructure, but specifically allows efficient implementation of contracts and many other signature or decryption algorithms. Going bigger than 256 bits makes our cryptographic primitive faster and more efficient than ETH which must build big nums out of 256 bit numbers.
  6. (no fork) Counterparty and protocol discovery (CAPD). Allows wallets to discover and interact with peers anonymously.
  7. (simple, bump-a-number fork, but a lot of underlying work for some full nodes) Transaction scalability to 512MB blocks per 10 minutes
  8. (HF) Rapid, efficient UTXO access and UTXO commitments (UTREEXO or Peter Rizun proposal). This helps deliver scalability, and UTXO commitments are very useful in an SPV wallet context.
  9. (HF) Block time reliability and unconfirmed transaction reliability through Storm/Bobtail




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