Author: micaroni at gmail.com 2022-06-04 00:29:44
Published on: 2022-06-04T00:29:44+00:00
In an email to the bitcoin-dev mailing list, a user named alicexbt expressed their opinion that covenants on bitcoin will eventually be implemented with a soft fork, and that CTV (CheckTemplateVerify) is the easiest and best possible way. They also mentioned several potential benefits of covenants including improved tooling for application developers, increased demand for block space, and improved funding for bitcoin developers and projects. The author argued that there are no technical objections to CTV and that all developers who participated in the discussion were either okay with it or with covenants in general. The author suggested that improvements should be made to the review process for soft fork BIPs and that honest opinions should be shared with agreement or disagreement on technical merits rather than waiting for years to anticipate a proposal that everyone will agree on or arguing for years to pretend changes are hard in Bitcoin. The author preferred BIP 8 or an improved version of it for the implementation of covenants but stated that they would not mind anything else being used if it improves Bitcoin. They suggested that implementing covenants before the next cycle would provide opportunities for developers to build interesting things during the bear market.
Updated on: 2023-06-15T21:23:53.114308+00:00