Bitcoin Upgrade Proposal BIP-119 May Be Finalized by Year-End
According to ChainCatcher, citing a report from Cointelegraph, the long-dormant Bitcoin Improvement Proposal OP_CHECKTEMPLATEVERIFY (known as CTV or BIP-119) is currently gaining attention and has received support from prominent Bitcoin developers and companies. If ultimately approved, it will enhance Bitcoin’s scalability, security, and usability, particularly by introducing features such as “covenants” and “vaults.”
These features are expected to improve the self-custody experience for users and give rise to safer and more sophisticated Layer 2 applications, such as the Lightning Network and Ark.
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