Developer Support Grows for Bitcoin Improvement Proposals 119 and 348
Support is growing for two Bitcoin Improvement Proposals (BIPs) aimed at a future soft fork: BIP 119 and BIP 348. These proposals focus on enhancing Bitcoin's scripting capabilities.
BIPs serve as formal mechanisms for discussing changes to Bitcoin. They may be integrated into the code via a soft fork if they gain sufficient support from stakeholders, notably miners, who indicate approval by signaling in mined blocks. A threshold of 95% signaling is typically required to activate updates.
Key points about the proposals:
- BIP 119 introduces OP_CHECKTEMPLATEVERIFY (CTV).
- BIP 348 introduces OP_CHECKSIGFROMSTACK (CSFS).
- Both proposals aim to enable covenants, which restrict how bitcoins can be spent in future transactions.
- They are considered narrowly defined to minimize potential exploitation.
- Recent developer support indicates a shift toward acceptance of these proposals.
Past efforts to advance CTV faced significant pushback, but recent advocacy for OP_CAT has shifted perceptions, making CTV and CSFS appear more acceptable. Upcoming technical conferences will facilitate further discussions among developers regarding these proposals.
Questions remain about the specifics of a potential soft fork, such as inclusion of other proposals and how activation will occur, emphasizing the need for clarity moving forward.