Tech 15 June 2018

Erik Gibbs

Researchers present new transaction rules for Bitcoin Cash

A few of Bitcoin Cash’s (BCH) top researchers and developers have proposed a change to the way transactions are managed on the network.  Lokad’s Joannes Vermorel, along with  Amaury Séchet and Shammah Chancellor of Bitcoin ABC and Thomas van der Wansem of Bitcrust, published a paper  (in pdf) on the change, which suggests the implementation of a canonical ordering process for the transactions. They argue that this would allow for improved scaling and increased efficiency.

The paper, ‘Canonical Transaction Ordering for Bitcoin,’ details several reasons why the change would be beneficial. According to the paper, “First, it allows to produce compact proofs of transaction inclusion/exclusion, making chainless apps more capable. Second, it gives a newer degree of control to Bitcoin participants to localize their transaction within blocks.”

With the current system, transactions are processed according to consensus rules in a list form, through which remote peers resend transactions to neighboring peers. This list has to be topographically sorted; however, with canonical ordering, BCH would be able to process extremely large blocks.

The new implementation would allow for a greater amount of efficiency for emissions and block propagation. It would also provide for better inclusion of transactions and easier software implementations. According to the minds behind the strategy, bandwidth capacity would become more efficient by “propagating as much information as possible ahead of time prior to the emission of a new block.”

Another advantage to the change, which has been dubbed the Canonical Transaction Ordering Rule (CTOR), is that it would allow for innovative ‘chainless applications.’ The group said, “The CTOR offers the possibility for any participant to zoom into a block to identify whether a transaction is found or not without processing the whole block. This property is of high interest because chainless apps gain the possibility to verify flows of transactions without being encumbered by an arbitrarily large blockchain.”

So far, the idea has been received well within the BCH community. It has been discussed in a number of forums and other social media platforms, and the idea is being floated for inclusion in the next BCH network upgrade scheduled for November.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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