Bitcoin Cash Upgrade v26.0.0

Owned by shailesh sisodiya (Unlicensed)
Last updated: May 12, 2023 by Egya (Unlicensed)
4 min read

Bitcoin Cash Upgrade v26.0.0

The Bitcoin Cash Node (BCHN) project has announced a release version 26.0.0, which is marked as a major release due to changes made to an interface (the rpcbind / rpcallowip options) for security reasons that are not completely backward compatible. and therefore needs to be tagged as a major version in accordance with Semantic Versioning.

However, for other practical purposes, this version is more like a minor release, containing corrections and improvements.

BCHN users should consider an update to v25 or later prior to May 15, 2023 as mandatory. Users running v25 are not required to upgrade to v26.0.0, although it is recommended.

The v24.x.0 software will expire on May 15, 2023, and will start to warn of the need to update ahead of time, from April 15, 2023 onward.

Announcement | Bitcoin Cash Node v26.0.0

 

Evaluation Process  

MidChains has :  

  • Evaluated what is changing? 

  • Analysed the impact of the changes. 

 

What is Changing?

For practical purposes, this version is more like a minor release, containing corrections and improvements such as:

  • RPC Related Bug Fixes and Output Improvements

The rpcallowip option functionality has been modified to not support automatic listening on all network interfaces. Instead, the rpcbind parameter must be used to specify the IP addresses to listen on. Listening for the Remote Procedure Call (RPC) commands over a public network connection is insecure and should be disabled, so a warning is now printed if a user selects such a configuration. Other fixes have been implemented in this update in relation to the RPC functionality, such as incorrect output for the ‘getmempoolinfo’ command and a bug that caused the ‘gettxout’ RPC to return incorrect data. It also improves the output of several RPC commands, including ‘getpeerinfo’ and ‘getblockstats’. 

 

  • Performance optimization for getblock

The 'getblock' command has been optimized to improve the speed and efficiency of retrieving a specified block from the blockchain. The update enhances the overall performance and speeds up block syncing. The team modified the getblock RPC command to include fee information per transaction in the block with verbosity level 2. Additionally, the getblock RPC command with verbosity level 0 now takes a faster path by skipping some sanity checks and assuming the block data read from the disk is valid, resulting in faster retrieval of raw block data. 

 

  • A New Benchmark Performance Bisection Script

This feature adds a new script to the software called ‘bench/bench_bitcoin’, which allows for benchmarking and performance analysis of various functions in the software, including block validation and network communication. 

 

  • Some Support Code for Future UTXO Commitments

This release includes some support code for future Unspent Transaction Output (UTXO) commitments, which are a proposed improvement to the Bitcoin Cash protocol that would allow for faster and more efficient validation of the blockchain. 

 

  • Minor Documentation Updates

This release includes some minor updates to the software documentation, such as improved descriptions of command line options and updates to the developer documentation.

 

Release instruction

Release 26.0.0 · bitcoin-cash-node/bitcoin-cash-node · GitHub

 

Impact Analysis

MidChains will support the Bitcoin Cash network upgrade. Node operators are required to upgrade their nodes to v25.0.0 or a newer version before 15th May 2023 as v24.x.0 software will expire on the same date. Users currently running v25.0.0 are not obliged to upgrade to v26.0.0, but it is advisable to do so.  No action is required by clients who hold BCH and clients’ funds will not be impacted by this upgrade. Deposit, withdrawal, and trading will remain uninterrupted for BCH and BCHUSD during the time of the upgrade.  

 The upgrade is not explicitly noted to be contentious, however, the Bitcoin Cash Node team has stated their close working relationship with other software and hardware developers to ensure compatibility with the upgraded protocol. Efforts will be made to minimize disruptions to network operations and exchange connectivity. This suggests that efforts are being made to avoid a contentious hard fork that could result in a split in the network. 

 

Impact on Client Funds: No impact to clients' funds post network upgrade. All transactions are expected to be processed without issue.  

Regulatory implications: None.  

Maturity / Market Capitalization: None.  

Security and Operations: Enhanced security and efficiency. 

Traceability / Monitoring: None. 

Exchange Connectivity and Demand: Potential increase in market participants   

Type of Distributed Ledger Technology (DLT): No impact. 

Innovation and /Efficiency: Improved network performance in relation to speed and scalability.  

All potential operational and market risks identified in relation to the Bitcoin Cash network upgrade including potential network stability, possible vulnerabilities posed by malicious actors on the network’s security due to protocol changes, disruption to the network, and possible fluctuation in the price of BCH  have been found not to have significant impact ,as the Bitcoin Cash Node team  have put measures in place to mitigate significant risks by giving priority  to network security, maintaining traceability of transactions, and fostering innovation on the network. Prior to the announcements of the Bitcoin Cash network upgrade version releases, extensive testing has been conducted and further improvements are tracked in the Bitcoin Cash Node Project Gitlab Repository.  

 

Upgrade Preparation

Node operators are required to upgrade nodes before 15th May 2023. No action is required by clients who hold BCH.

 

For more information, please refer to: Bitcoin Cash Upgrade - v25.0.0. and v26.0.0