Author: Peter Todd 2022-01-09 11:38:15
Published on: 2022-01-09T11:38:15+00:00
In a Bitcoin developer mailing list, Michael Folkson has expressed concerns about the proposed opcode OP_CTV, which enables covenants on Bitcoin and is seen as a big step change. He believes that there has not been enough scrutiny and research on the long-term implications of the proposal. In addition, he urges others to register a soft signal of "No" on the site as well, stating that trying to rush through the proposal so soon after Taproot activation should be resisted. Peter Todd agrees with Folkson's objections and adds that CTV in its current form lacks compelling use-cases clearly beneficial to all users. Todd highlights several issues such as DoS attacks, poorly fleshed-out use cases, covenant design trade-offs and risks, and poorly documented testing. He argues that previous feature upgrades to the Bitcoin protocol have always been done with the intent of improving the protocol for everyone, but CTV does not make that case sufficiently.
Updated on: 2023-06-15T04:21:51.376791+00:00