According to PANews, two Bitcoin Improvement Proposals (BIPs), BIP 119 and BIP 348, are gaining traction among the community and could be integrated into Bitcoin’s next soft fork. BIP 119 introduces OP_CHECKTEMPLATEVERIFY (CTV), while BIP 348 focuses on OP_CHECKSIGFROMSTACK (CSFS).
These BIPs present innovative scripting techniques for Bitcoin, receiving strong endorsement from developers. Their implementation could greatly improve Bitcoin’s self-custody, transaction fee efficiency, and compatibility with existing technologies like the Lightning Network, Ark, and smart contract-based applications. Blockspace highlights that this is the first instance in over four years where the Bitcoin community is rallying for protocol modifications.
A Bitcoin soft fork requires consensus from key stakeholders, including developers, custodians, investors, and miners. To approve these updates, miners must signal their agreement by incorporating them into newly mined blocks.
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