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This post is the “implementation-oriented” companion to the Phase 2 fundraising announcement. It’s still Phase 2 level — the goal is clarity, not a full spec dump. The short version: Phase 2 builds auditability, beaconless binding, state cells, and versioned interfaces so Phase 3 can add real on-chain proof verification
Make cash-like payments on BCH legible, repeatable, and upgradeable — without OP_RETURN beacons. Bitcoin Cash is great at fast, low-fee payments — but like most cryptocurrencies, typical transactions still broadcast a lot of information: who paid whom and how much. Physical cash doesn’t do that. Phase 2 is the step
Bitcoin Cash already nails fast, low-fee payments. The harder problem is privacy that still plays by L1 rules: observers shouldn’t learn who paid whom or how much, while the network still enforces authorization, no inflation, and no double-spend. Here’s the simple “phase ladder” we’re building and why
Phase 1.5 is live. This milestone tightens the “confidential assets” prototype into something much closer to a real confidential-transaction building block: we now have a concrete amount envelope format, a deterministic off-chain range proof implementation, and (crucially) a working covenant pattern that looks like the direction BCH is headed