A small but important development is occurring in Bitcoin’s much-discussed decentralized consensus process, with some developers moving to publicly gauge sentiment on opposing soft fork proposals that would increase the program’s set of rules.
https://x.com/pete_rizzo//
More specifically, the effort began today with the creation of a page on the Bitcoin Wiki called “Support covenants“, where pseudonymous network developers can attest to their interest no less than Nine proposalswith a six-option rating system.
This effort is not related to Bitcoin Core, the network’s main software implementation.
However, it is worth noting, as the process has been invoked in previous Bitcoin consensus upgrades, dating back to the first soft fork, P2SH, In 2012and continuing the legendary Fork Wars, with Segwitthe most controversial change yet, both have dedicated wiki pages.
Covenants, a method of restricting spending terms for certain UTXOs, have gained significant attention since 2021, with the introduction of OP_CTV, authored by developer Jeremy Rubin, although opinions differed at the time on the strength of the proposal and its promotion.
Among those being measured in terms of developer sentiment are OP_VAULT, a charter scheme aimed more specifically at custody, and OP_CAT, a modification that would bring back Satoshi-era capabilities, such as the ability to execute complex code queries.
Luke Dashjr, one of the network’s longest-standing contributors, has already weighed in with their opinions, along with newcomers like Jon Attack, Brandon Black and MoonSettler.
If these efforts gain traction, the page could emerge as one worth watching.
bitcoin governance process, Although much debateIt rarely corresponds to a dedicated process, with some contributors having long argued against the necessity of having a process at all.
However, the move indicates a general interest among the development community in moving forward with code updates that improve Bitcoin for users, although there will likely still be debate as to which update is preferable, as well as which activation method will enable it.
This article is a takes. The opinions expressed are entirely those of the author and do not necessarily reflect the opinions of BTC Inc or Bitcoin Magazine.
Comments are closed, but trackbacks and pingbacks are open.