Author: David A. Harding 2022-04-21 18:06:14
Published on: 2022-04-21T18:06:14+00:00
The Bitcoin community is discussing the viability of the proposed BIP119 CTV. The main criticisms against CTV are usage and maintenance burden and the lack of consensus around any concrete proposal for covenants. Matt Corallo considers concerns over the implementation of covenants as a version of point 1b, which can be retired automatically if a better way for going about covenants is found. The technical community doesn't show any signs of consensus around any concrete proposal, and activating CTV or coming up with some way of shoving it into Bitcoin at this stage sets incredibly poor precedent for maintaining Bitcoin's culture of security and careful design. Dave Harding suggests a transitory soft fork as a method for collecting real-world usage data about proposals. They suggest that testing on the CTV signet or trying CTV on sidechains or altcoins would be a better alternative than attempting activation of CTV.
Updated on: 2023-06-15T19:08:14.065711+00:00