Three days ago we reported on the proposed changes being added to the next full node client published by the Bitcoin ABC development team. The new code changes should be in the next codebase release which is expected to be ready on August 15 for testing. As we discussed, the ABC developers plan to add canonical transaction ordering, a minimum transaction size of 100 bytes, activation of OP_CHECKDATASIG and OP_CHECKDATASIGVERIFY (CDSV), and push-only mandatory for scriptsig.
However, Nchain’s Craig Wright explained that CDSV would not happen while also detailing that friends like Calvin Ayre would not support the change. A few days later on August 11, Wright explained his preferred consensus changes that he would like to see implemented on the BCH chain this coming November. Wright states:
Following this, on August 13 the mining organization Coingeek, which captures over 20 percent of the BCH hashrate, once again made a statement concerning Bitcoin protocol changes. The company starts off by explaining that it is fully committed to the global success of the original Bitcoin protocol which is “now restored in the form of Bitcoin Cash BCH.” Furthermore, Coingeek emphasizes that as a “significant miner” there are a few consensus changes they plan on supporting that are different than the changes proposed by Bitcoin ABC. The Coingeek proposal shows three features they would like to see implemented this November:
Additionally, Coingeek notes some changes within the Bitcoin ABC proposal that the organization will not support. Coingeek agrees with Craig Wright, and explains they will not “commit their hashpower” to any software implementation that supports “canonical transaction ordering and OP_CHECKDATASIGVERIFY (CDSV).”
“In the longer term, Coingeek will continue to support only consensus changes that restore the original Bitcoin protocol, and those that may be demonstrated as absolutely necessary to meeting the goal of massive on-chain scaling to terabyte+ blocks,” the mining pool details.
Coingeek also says it encourages the development of plug-in transaction selection, removing transaction delays, free and cheap fees, computational cost-based fee calculation, and the implementation of a secondary transaction cache to allow double spend monitoring for transactions. The firm says it will continue to support the original vision of Bitcoin and says other mining pools should join them in taking a stance.
“Coingeek’s suggested path is in the best interest of all enterprise-level mining operations and we welcome working together to support this now,” the company notes.
Following the statement toward enterprise mining operations, the company has also revealed it has designed a “next generation ASIC chip.” According to Coingeek, the chip will be optimized for enterprise-level mining on the Bitcoin Cash network. Coingeek details it will be showcasing the new technology at a booth during the organization’s London conference in November. The BCH mining pool says they invite all miners to join them at the even so they can plan for the future of the industry.
What do you think about Coingeek’s statements and proposals for the upcoming November Bitcoin Cash hard fork? What do you think about Coingeek announcing next-generation enterprise-grade mining chips? Let us know what you think about this subject in the comment section below.
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