Comment
Author: Admin | 2025-04-28
They are similar to informational BIPs, they require consensus (a clear miner majority of 90%). Consensus BIPs are for changes outside the Bitcoin protocol, meaning they don’t affect Bitcoin’s codebase. For example, implementing a soft fork and updating old miner software across the network requires a Process BIP.Famous Bitcoin Improvement Proposals You Should Know AboutBitcoin Improvement Proposals (BIPs) are key to the advancement of Bitcoin. In the last decade, BIPs have shaped the Bitcoin network, addressing critical issues and enhancing block capabilities. Let’s look at some historic BIPs, their significance in Bitcoin development, and their ripple effect on the community.BIP 001 and 002The first-ever BIP created by Amir Taaki, BIP 001 was essentially a proposal on what a BIP should be. In other words, it explains the process of submitting and discussing a BIP, going into detail about the types of BIPs, workflow, submission formats, and more.BIP 002, on the other hand, amends some of these guidelines, elaborates on key approval processes, and answers common questions about BIPs. It also adds BIP licensing, comments, and formatting guidelines. Both of these BIPs were Process BIPs, which required the community to agree on them. Together, these two BIPs set the stage for the ongoing evolution of Bitcoin.BIP 8 & 9BIP 8 and BIP 9 are both consensus (process) BIPs that enable soft forks, backward-compatible changes to the Bitcoin protocol. Every soft fork is a major protocol change that the majority of the network participants agree with, so miners can just upgrade their software to remain in sync with the network.BIP 8 and 9 provide mechanisms for signaling and activating these soft fork changes.SegWitOne of the most popular Bitcoin upgrades, Segwit, was the result of a series of BIPs, namely BIP-91, BIP-141, and BIP-148. BIP-141 introduced the SegWit upgrade, while BIP-148 activated the soft fork to implement it. BIP-91, on the other hand, reduced the consensus threshold to 80%, for Segwit to pass successfully.Segwit made the Bitcoin network scalable by reducing the size of transaction data. With less metadata, Bitcoin blocks can fit more transactions, increasing overall speed after the Segwit upgrade. Segwit was also key for developing popular Bitcoin Layer 2 networks, such as Lightning.TaprootTaproot, the most recent upgrade to the Bitcoin protocol, consisting of three BIPs: BIP 340 (Schnorr signatures), BIP 341 (Taproot), and BIP 342 (Tapscript). With Taproot, the Bitcoin protocol is more privacy-friendly and can also support innovations like
Add Comment