Bitcoin Cash Community Prepares for Schnorr Signatures and Data Script Upgrade on November 15
The Bitcoin Cash community led by Roger Ver is expecting an upgrade scheduled for mid-November. This new feature release might further boost the BCH market cap having recently regained the fourth position amongst other crypto projects.
The upgrade is part of the Bitcoin Cash roadmap and will improve the efficiency in Schnorr signatures and minimize the amount of script recorded data. In addition, future upgrades will have an automatic replay protection within the new ecosystem. Bitcoin Cash has set the actual release date on Nov. 6 and speculations might cause a BCH price surge. At the moment, data from coinmarketcap shows the crypto coin trading at $285 with a market cap of $5.1 billion.
Minimal Data Scripts and Schnorr Sig Upgrade
This new ecosystem will facilitate more non-malleable transactions under the minimal data on script enhancement. Ideally, a MINIMALDATA in Script will be implemented; this will in turn remove the malleability vector dubbed ‘BIP62’.
Schnorr signatures are not a new concept to the BCH ecosystem having being in the last upgrade. However, the soon to be released version allows OP_CHECKMULTISIG as opposed to the existing one which only supports CHECKSIG and OP_CHECKDATASIG. In addition, Schnorr signatures will be supported in all functions that require a signatory.
The BCH community and ecosystem users have been advised to update their nodes to any software above the 0.20.0 version. Otherwise, their systems will not interoperate with the BCH network post the upgrade. This upgrade had been on a testnet for a period of three months to enable BCH users interact and prepare for the new features. The project plans to release the next upgrade in May 2020.