Bitcoin Upgrade Initiative, OP_CAT Proposal Adopts BIP-347 for Ethereum-Style Smart Contracts
The OP_CAT proposal, aiming to integrate Ethereum-like smart contract functionality into Bitcoin, has received Bitcoin Improvement Proposal (BIP) number 347.
Signaling the initial phase toward potentially implementing this long-discussed software upgrade. Co-authored by Ethan Heilman and Armin Sabouri. The proposal’s assignment of a BIP number is primarily seen as a facilitator for discussion within the community, although consensus has not yet been reached. This development has sparked renewed debate between those advocating for Bitcoin’s exclusive focus on monetary transactions and proponents of developing more intricate applications on the Bitcoin network.
OP_CAT has become a focal point for discussions on expanding Bitcoin’s capabilities through “covenants,” which establish transaction rules.
Clever Robot News Desk 26th April 2024
