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How does Bitcoin Cash governance / updates work?

Bitcoin Cash is decentralised, meaning it is a system with no one in charge or able to force action from anyone else. Many cryptocurrencies claim this feature, but the reality is often very different - as power is concentrated on any/all of an "official" foundation, organising body, founder, developer team, media promulgation channel, insider group or other central or network-critical entity of some kind.

Bitcoin Cash has no such thing. It has:

  • No official spokesperson
  • No "central" website
  • No verified Twitter account
  • No foundation or controlling body
  • No venture capital investors
  • No official code repository
  • No central/official anything

The entire ecosystem (miners, developers, community organisations, businesses and end users) operates entirely according to its own volition with no hierarchy or "official" designation of any kind. For example: as with everything else in the ecosystem, The Bitcoin Cash Podcast itself is simply a community run initiative which has no authority beyond the choice of Bitcoin Cash adopters to listen and anyone is free to create a competing podcast or information hub (even with literally the same name if they wanted, although that probably isn't an advisable marketing strategy).

Therefore, BCH has quite a different governance model and update process than other cryptocurrencies, which has developed out of BCH's unique history.

Anyone can propose and lead an upgrade to the network (including proposing a change to the way network changes are proposed or upgrades are accepted!). Network upgrades happen on a yearly schedule in May. Making an update to the network requires building voluntary social consensus of stakeholders through the CHIP (Cash Improvement Proposal) framework. This framework is designed to be:

  • Orderly
  • Transparent
  • Seen well ahead of time
  • Widely consulted, needs buy in from a strong amount of affected stakeholders

This process is slow and energy intensive, but that is by design to ensure only very good ideas with very strong, well meaning champions of the upgrade become widely accepted and implemented.

See this video by Satoshi's Angels (another community run organisation):

For a list of current CHIPs see bch.info/chips. Many proposals for CHIPs start with discussion on Bitcoin Cash Research, although it's also possible to start by contacting relevant stakeholders.

The latest network upgrade was May 15th 2022. Check out the community live stream of the upgrade activating!