Author: jl2012 2016-01-05 05:43:41
Published on: 2016-01-05T05:43:41+00:00
The Bitcoin Improvement Proposal (BIP) is a process that allows anyone to suggest and implement changes to the Bitcoin protocol. A new BIP has been proposed as part of the Segregated Witness (SegWit) soft fork. This proposal defines a new transaction digest algorithm for signature verification in version 0 and version 1 witness programs. The main goal of this proposal is to minimize redundant data hashing in verification and to cover the input value by the signature.In addition, a new SW payment address format BIP draft is also ready and pending BIP number assignment. This is the third BIP for SegWit, and the second one for Peer Services is being prepared by Eric Lombrozo. Eric Lombrozo and jl2012 have been working on some SegWit BIPs based on earlier discussions Pieter Wuille's implementation. Three separate BIPs are being considered, including Consensus BIP, Peer Services BIP, and Applications BIP. The Consensus BIP has already been submitted as a draft and is pending BIP number assignment. It covers witness structures and how they're committed to blocks, cost metrics and limits, the scripting system (witness programs), and the soft fork mechanism. The other two BIPs will be drafted soon and will cover relay message structures, witnesstx serialization, and other issues pertaining to the p2p protocol such as IBD, synchronization, tx and block propagation, etc. and scriptPubKey encoding formats and other wallet interoperability concerns respectively.
Updated on: 2023-06-11T02:45:42.259577+00:00