Bitcoin upgrade proposal BIP-119 is expected to reach consensus by the end of the year
Powered by ChatGPTOn July 14, Cointelegraph reported that Bitcoin Improvement Proposal BIP-119 (OP_CHECKTEMPLATEVERIFY) is accelerating, with 66 well-known developers jointly supporting the proposal. If approved, BIP-119 will significantly improve Bitcoin security by introducing "contract" and "vault" functions, and bring breakthrough improvements to Layer 2 solutions such as the Lightning Network. Second CEO Steven Roose said that although final implementation may still take 1-2 years, the technical community is expected to reach a consensus on the upgrade direction by the end of 2025. The proposal will make Bitcoin daily payments more convenient and may promote interoperability with the Ethereum ecosystem, bringing broader application scenarios to Bitcoin. [Deep Tide TechFlow]