what are Extension Points and how do they differ from soft and hard forks? - Bitcoin Cash

[nandibear]

Does anyone reading here know more about what is referred to as extension points?

...Extension Points. The Developer and Testing Groups intend to use known extension points to introduce new features into Bitcoin Cash. To date, there have only been 2 ways to upgrade the Bitcoin (or Bitcoin Cash) network, commonly known as a hard fork or a soft fork. Both mechanisms have their own shortcomings. Soft forks are activated by miners and there is no way for node operators to voice their opinion nor oppose on the fork. On the other hand, hard forks require all users to upgrade in lockstep and creates risk at time of activation. Extension points provide a new, and easier, third method to implement protocol upgrades. (Extension points are a method by which nodes implement new Opcodes and other changes that are not, strictly speaking, hard or soft forks. This is accomplished by introducing an indeterminate state that is neither “valid” nor “invalid” but temporarily valid and dependent upon proof of work using a form of emergent consensus.) The Developer and Testing Groups will evaluate when, and how, to begin using extensions points for the upgrade process.

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Source:
Bitcoin Cash Development & Testing Accord
nchain.com
by Jimmy Nguyen
December 4, 2017

[nandibear]

Related article:

Smart Contracts Coming to Bitcoin Cash
Medium.com
by Leslie Ankney
February 28, 2018

Excerpt:

Bitcoin Cash is increasing its block size to 32MB and adding smart contract capability with a new implementation starting on May 15th. Will this be the next “Ethereum killer” or just help Bitcoin Cash gain a more competitive edge on the market? NChain, the blockchain firm behind these new changes, claims, “Bigger blocks, faster speed, and lower transaction fees,” allow Bitcoin Cash to “fulfill the Satoshi Nakamoto white paper’s vision — a peer-to-peer electronic cash system”.

Read entire article: https://medium.com/@CryptoLeslie/smart- ... e2d382d5ba

[Geleas]

How many forks of bitcoin is there going to be this year? I've heard a lot that there isn't going to be less than fivety. Perhaps some of them will get popular and thereby pricey.

[nandibear]

Related video:

https://youtu.be/H_v86pkCR-o
title: Bitcoin ABC Hardfork Explained
by: COINCADO
published: April 21, 2018