I support the 4 CHIPs proposed by Jason Dreyzehner for activation on Bitcoin Cash May 2026.
Below are my support statements for each of the CHIPs where I elaborate on my reasoning.
These statements are for myself personally, but can also be considered support statements for Cashonize and ParityUSD! For any other team projects where I am not the sole-lead, I will logically first have to discuss any separate CHIP statements.
CHIP-2024-12 P2S: Pay to Script
The ‘Pay to Script’ CHIP bundles a few small related changes which are low-hanging fruit for improving contract development on BCH. The CHIP removes the non-standardness restrictions for custom locking scripts which improves usecases like Cauldron DEX contracts or ZCEs by not forcing these usecases to use P2SH for standardness. Further, the CHIP improves the ease of contract development by removing the 1650 input bytecode standardness limit and by increasing the maximum commitment length. The CHIP does not introduce any novel concepts but instead removes or relaxes current constraints. I fully support this CHIP for activation in May 2026!
CHIP-2021-05 Loops: Bounded Looping Operations
The ‘Bounded Looping Operations’ CHIP got first proposed in 2021, now with the targeted VM limits activated in 2025 the groundwork has been laid to finally incorporate loops into the BCH VM by accurately measuring and limiting script resource usage. Loops are a very elementary concept for programming languages so now that they can be enabled in a straightforward way, we absolutely should. The Bounded loops CHIP research had been completed for years already and represents BCH overcoming dogmas and misconceptions on loops in Bitcoin. Fully support the CHIP and look forward to incorporating loops into CashScript to empower contract developers to create more advanced contracts!
CHIP-2025-05 Bitwise: Re-Enable Bitwise Operations
The ‘Bitwise’ CHIP is long-desired restoration of some of the remaining missing bitwise operations. After the VM Limits CHIP of the previous upgrade it has become straightforward to introduce new opcodes without any custom limits and in a way that nicely integrates with the existing test framework. BitcoinCashAutist and myself had even done some prior draft work for proposing to re-activate bitwise ops is a similar fashion. Fully support the CHIP for activation in May 2026!
CHIP-2025-05 Functions: Function Definition and Invocation Operations
The ‘Functions’ CHIP is a modern adaptation of an old but very powerful idea for improving the scripting language. With CashScript we had already run into the need for macros/libraries to make the high level language developer friendly & powerful. The idea to enable data-as-code by evaluating as bytecode is general concept but the devil is in the details of the implementation. With the benefit of a much better understanding of the evolution of the VM we’re able to look at these old ideas through a new lens.
The first iteration of the proposal, OP_EVAL
, made strides in arguing against any kind of ‘stack isolation’ which is an anti-feature in practice. After great discussion with many back-and-froths, the proposal changed its approach to using 2 opcodes: OP_DEFINE
& OP_INVOKE
. The main reason being that stack juggling whole functions is actually a big drawback for creating compilers and optimizing contract code. With the 2nd iteration of the proposal, the discussion focused on possible dangers of allowing “function factories” and adding “mutation tracking” safety rails. The whole process thoroughly explored the solution space with multiple variations. With the current (unrestricted) functions CHIP coming out as the best solution.
The Functions CHIP represents a major unlock in the power of the VM, enabled by the prior work on VM limits. We can expect to see permissionless innovation for a much more advanced class of contracts including quantumproof cryptography, zero-knowledge usecases, cross language compilers. This will move out the frontier of innovation, allowing for exploration of very exciting new ideas. I fully support the Functions CHIP for activation in May 2026!