Bitcoin Cash Upgrade: What’s New?


Welcome, welcome to One Minute Crypto!
I’m your host, Chronos, and today I want to
cover exactly what’s coming up in the Bitcoin
Cash upgrade on November 15th.
We have two new changes with this hard fork,
but I wouldn’t say that either of them a huge
game-changer for the average bitcoiner — you
probably won’t even notice a difference.
Before we get into the nitty-gritty, I want
to thank our sponsor, Americas Cardroom.
They are bringing us the massive Venom Tournament
on November 27th, with millions of dollars
in guaranteed prizes, and they support deposits
and withdrawals in Bitcoin Cash.
Check them out at https://americascardroom.com.
So the first new feature coming in the Bitcoin
Cash upgrade is called “Minimal Data.”
Basically, this tightens the rules on how
your transactions are built behind the scenes,
which allows new kinds of applications to
rely on the blockchain.
By reducing transaction malleability, this
even makes the Lightning Network possible
on Bitcoin Cash, but I wouldn’t expect it
anytime soon.
The second new feature brings Schnorr signatures
to OP_CheckMultiSig.
OK, let’s try that again in English.
Schnorr signatures are named after Claus Schnorr,
and they were invented a long time ago: their
patent expired in 2008.
They make crypto transactions smaller and
more efficient, so they reduce the need for
bandwidth, processing, and storage, all at
once.
This is a nice upgrade for scaling Bitcoin
Cash to support more users.
Post any questions below the video.
I’m Chronos.
Thanks for watching!

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