BCH Upgrade Is Here, Increases Block Size And Reactivates Op Nodes
The much-awaited Bitcoin Cash (BCH) upgrade is here, that has increased block size from 8MB to 32MB has reactivated Bitcoin script operation codes (op_codes).
The new upgrade is paving the way for future adoption as well as new functionality being added. There has been a consensus that the reactivation of formally disabled op_codes is compelling to developers and could bring value to the BCH economy. Although this has not been the case, at least as of right now. BCH has declined in value since after the hard fork and seems to be mirroring Bitcoin trends right now.
— Bitcoin Cash Fund (@BitcoinCashFund) May 16, 2018
The arguments against an increase in block size include making the operation of full nodes more expensive, leading to less decentralization of the network, as well as lower propagation speeds. The increased block size is another characteristic that separates BCH from BTC.
However, the regular user doesn’t actually have to know or care about the upgrade. Op_return use cases are getting a nice boost (like memo) and so those users will see the effects, but they still don't need to know what's going on. The re-enabled op_codes will allow for cool stuff to be built, but that's the developers' playground. (The users will see the effects of that only as new cooler things are built.) And the blocksize limit increase only serves to maintain the current situation where there is no artificial cap on transaction throughput so that the system can work as intended.
These op_codes will catalyze an explosion of development in BCH, like Ethereum. If ethereum can be as successful as it is, being built as haphazardly as it was for decentralized application development, then it is only conceivable that the potential of BCH is bigger, given that it's safer and cheaper to use.