Tech 18 May 2018Erik Gibbs
New OP_Code features are all the buzz after Bitcoin Cash network upgrade
The Bitcoin Cash (BCH) network upgrade is behind us, and everything went according to plan. While there haven’t been fireworks or confetti-laden parties following its success (that comes after the inaugural CoinGeek Conference), the introduction of OP_Codes previously removed is certainly causing a lot of celebration. More and more developers are busying their fingers and minds, trying out the new features.
Memo and Blockpress developers were the first to jump into the hot seat after the upgrade, testing the platform’s increased character limit. Previously, the limit was set to 79, but has now been raised to 217 thanks to the BCH network upgrade. While this may not be significant to some, it makes a world of difference to developers. Memo and Blockpress users can now post more content, saving everything on-chain.
As more developers took to the platform to tinker, OpenBazaar developer Chris Pacia introduced the latest OP_Code feature, the first tree signature on the BCH blockchain. It was created using the OP_CAT functionality, which allows for multi-signature combinations that are more efficient than their predecessors. Pacia explained, “For addresses with a large number of keys a tree signature can use less data. And unlike normal OP_CHECKMULTISIG, it doesn’t require you to expose the keys that were not used in the signing.” To support his theory, he provided a block explorer URL showing that it was a 1 of 8 multi-signature tree signature.
Made the first tree signature on Bitcoin Cash 🙂 https://t.co/NJOdViqhrB
— Chris Pacia (@ChrisPacia) May 15, 2018
Pacia’s innovation is a subset of Merkelized Abstract Syntax Trees, or MAST. It can enhance privacy on the BCH platform through the hiding of certain multi-sig scripts. “MAST is more general but can’t be done with the current opcodes as far as I know — If we had OP_EVAL then we could I think,” he said.
Emil Oldenburg, CTO for bitcoin.com, got in on the fun, as well. He created a transaction puzzle that, when solved, contains a secret message hidden within the hashed script. Says Oldenburg, “The puzzle is solved with the string ‘BCH is the best Bitcoin.’ The script is <String1> <String2> OP_XOR OP_HASH256 <hash1> OP_EQUAL. It’s solved by finding the secret String1 that when XORed with String2, after hashing should be equal to hash1.”
I made a fun little transaction puzzle with one of the new op-codes: https://t.co/FIGNsH36Uu
— Emil Oldenburg (@emilolden) May 16, 2018
One anonymous user used an OP_Code to address the “arbitrary data spam” debate. A Twitter user who goes by the name “UK Cryptocurrency” posted a tweet to inform the entire crypto community that a BCH address is in the process of writing the first testament of the King James version of the bible to the BCH blockchain. It is currently writing at 1 Satoshi/byte (1 sat/byte). The memo field of the BCH transaction ID reads, “1 In the beginning, God created the heaven and the earth.”
— UKcryptocurrency (@uk_c_c) May 16, 2018
This is only the beginning. As with any newly-available programming capability, developers are testing the waters and boundaries before charging ahead full steam. Before too long, there will be a number of new, highly useful additions to the BCH platform that will help it continue to rise as a dominating network and digital currency.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Satoshi Vision (BSV) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BSV is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
Tech 15 January 2019
Accenture leads firms in assessment for blockchain services
Professional services company Accenture was among the firms assessed by Everest Group as most capable of delivering blockchain solutions successfully.
Tech 15 January 2019
Cryptojackers remain biggest malware threat
Cryptocurrency mining remains the most prevalent use for malware distribution, according to the latest study by Check Point Software Technologies Ltd.
Tech 14 January 2019
Smart-card based wallets for a smarter, more secure wallet
Wright points out that a smart-card application tied to a wallet can offer better security for crypto assets while also allowing for private system authentication.