The recent breakthrough in Bitcoin development outlines a new method for adding covenants without changing the main code, potentially unlocking new wallet features and enhancing layer-2 protocols.
The research paper, 'ColliderScript: Covenants in Bitcoin via 160-bit hash collisions,' suggests that covenants can now be implemented without necessitating a soft fork, a significant change from past assumptions.
Led by Ethan Heilman, the team hopes this development will enable faster applications and cheaper transaction executions, making Bitcoin more competitive with Ethereum while maintaining its strong security.
With their findings, the research team aims to cultivate additional programmability within Bitcoin, addressing limitations in executing complex transactions that other platforms like Ethereum readily support.
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