Controversial Bitcoin upgrade proposal BIP-119 is expected to reach consensus before the end of the year

2025/07/14 17:01

PANews reported on July 14 that according to Cointelegraph, the controversial Bitcoin upgrade proposal BIP-119 (OP_CHECKTEMPLATEVERIFY) is expected to reach a consensus by the end of the year. The proposal was proposed by Jeremy Rubin in 2019 and aims to enhance Bitcoin security and scalability through "covenants" technology, especially for Layer2 solutions such as the Lightning Network. On June 9, 66 Bitcoin core developers signed an open letter calling for the advancement of BIP-119 and BIP-348. The signatories include well-known developers such as Jameson Lopp and representatives of institutions such as Anchorage. If activated, the upgrade will support the smart vault function, allowing users to preset fund transfer rules (such as transferring a maximum of 0.1BTC to a hot wallet per week) and optimize Layer2 privacy transactions.

Although Bitcoin's decentralized governance mechanism has led to a slow upgrade process (the last major upgrade, Taproot, took three years), Second CEO Steven Roose predicts that technical consensus may be formed before the end of the year. However, actual deployment will still take 1-2 years, and the differences in activation mechanisms between miners and full nodes need to be resolved.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Say Goodbye to Hoarding XRP! Under the GENIUS Act, Topnotch Crypto Boosts XRP Cloud Mining

Say Goodbye to Hoarding XRP! Under the GENIUS Act, Topnotch Crypto Boosts XRP Cloud Mining

As global digital asset regulation ushers in a major breakthrough, Topnotch Crypto today officially launched the world’s first XRP cloud mining contract that fully complies with the GENIUS Act regulatory framework. This landmark innovative solution will redefine the standard model for crypto asset returns and provide 8 million global users with a safe, transparent and efficient passive income channel. Compliance Innovation in the GENIUS Act Era Topnotch Crypto’s XRP cloud mining contract service strictly complies with the regulatory requirements of the GENIUS Act and has the following core features: Use smart contracts to automatically execute profit distribution, in compliance with the transparency provisions of Article 5.3 of the Act Implement a dynamic risk assessment mechanism to meet investor protection requirements All contracts are verified by third-party audit agencies “Our XRP cloud mining contract is not a simple technology product, but a digital asset tool that complies with modern financial regulatory standards,” said Topnotch Crypto CEO. Highlights of the New XRP Cloud Mining Contract Flexible term selection: a wide range of options from 1 day to 50 days to meet the specific needs of various groups of people. Ladder income structure: providing a daily yield of 1.2%-1.8% to maximize income. Security guarantee: multi-signature cold wallet storage, real-time monitoring system. How to Participate in the XRP Cloud Mining Service? Step 1: Register an account Go to Topnotch Crypto official website or download the official APP, register an account to get a $15 reward. Step 2: Top up XRP Go to the “Homepage”, get your exclusive XRP address, and complete the top-up operation. Step 3: Choose a mining plan Choose the ideal contract based on your goals and budget. Step 4: Start mining and get income After successfully purchasing the contract, the system will automatically start the BTC mining service for you, and the daily income will be automatically distributed to your personal account, which can be withdrawn or reinvested at any time. Strategic Upgrade for XRP Holders As an efficient payment asset, long-term holders of XRP can only passively wait for the price to rise. Now, Topnotch Crypto’s XRP cloud mining service brings you a new option: by purchasing a mining contract, your XRP can not only increase in value, but also generate real income every day, making the asset truly “alive”. User Income Plan: Make Crypto Growth within Reach To celebrate the implementation of the GENIUS Act, Topnotch Crypto launches a limited-time income enhancement plan: New users will receive $15 experience bonus upon registration Referral rewards upgraded to 4.5% income sharing Users can enjoy VIP exclusive income pool A New Step towards Financial Freedom, Starting Today! Topnotch Crypto’s XRP cloud mining contract will keep your digital assets from sleeping. Whether you are a long-term holder seeking additional income or a new user exploring the crypto world, this is an opportunity you can’t miss. Sign up now to experience the stable returns brought by smart mining, and let every XRP create value for you.
Share
CryptoNews2025/07/23 20:12