A group of top Bitcoin developers is collaborating with StarkWare and Blockstream, claiming to have made a breakthrough on the Bitcoin blockchain by proposing a programming method called "covenants." This new feature will unlock new wallet and vault functionalities and improve the efficiency of second-layer protocols.
Key Points
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The "covenants" programming method proposed by the developers will enhance Bitcoin's functionality.
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This technology does not require changes to Bitcoin's main code, avoiding the complex process that usually requires consensus.
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The research paper "ColliderScript: Covenants in Bitcoin via 160-bit hash collisions" details this breakthrough.
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The team is led by Ethan Heilman, with other members including StarkWare's Victor Kobolov and Avihu Levy, as well as Blockstream's Andrew Poelstra.
As the oldest and largest blockchain, Bitcoin has attracted a large number of developers trying to increase programmability and add additional network layers to build more applications on it and achieve faster, cheaper transaction execution. This move aims to catch up with Ethereum's achievements while maintaining Bitcoin's security.
Potential of the New Feature
According to StarkWare's official Twitter, the idea of implementing covenants was previously thought to require a soft fork and additional opcodes, but the research indicates that covenants are feasible on today's Bitcoin, despite their high computational cost. Developer Robin Linus stated that while the current form of the research paper is not practical for real-world applications, the underlying concept is outstanding.
Future Outlook
As Bitcoin developers continue to deepen their collaboration with StarkWare, more innovative solutions may emerge in the future, further advancing Bitcoin's programmability and functional expansion. This breakthrough could not only change the way Bitcoin is used but also impact the future development of the entire cryptocurrency ecosystem.