HomeBitcoinBitcoin News: Developers Debate Major BTC Network Upgrade For New Use Cases

Bitcoin News: Developers Debate Major BTC Network Upgrade For New Use Cases


Debates on Bitcoin network upgrade heats up among developers as they believe the blockchain requires further updates for new use cases. Among upgrades mostly under debate is OP_CAT to enable “concatenation” on the blockchain introducing new features for the community.

Bitcoin Network Upgrade

Bitcoin blockchain’s reputation as a network that mainly supports digital gold may be changing, reported Bloomberg on June 1. Developers debate on required upgrades to the blockchain to add new features amid push for mainstream adoption.

The most discussed upgrade is called OP_CAT. If approved, it will add additional codes to the Bitcoin core and enable linking of two elements together, so-called ‘concatenation’. This will introduce added improvements from better coin custody to decentralized finance (DeFi) apps that are specifically available on blockchains like Ethereum and Solana.

“You could actually do smart contracts very similar to what you’d see on other chains,” Udi Wertheimer, chief executive officer of OP_CAT supporter Taproot Wizards, said in an interview. “Bitcoin could be a lot more than it is,” he adds. “It’s time to talk about an actual technical upgrade.”

The upgrade would require community and core developers’ approval as Bitcoin network update is a big development. Bitcoin network has not added new functionality since 2021.

Bitcoin developers believe the network should have fewer changes as it will be more likely to remain stable and secure then. Some believe OP_CAT challenges that notion, with developers and experts debating whether to start signing onto the idea.

OP_CAT was recently launched on Signet testnet in October by Ethan Heilman and Armin Sabouri. It is assigned a BIP-420 number, indicating that it’s under deep consideration for an upgrade. Crypto executives and experts including Solana Labs co-founder Anatoly Yakovenko have added “BIP-420” to their names on X.

Taproot Wizards in February launched Quantum Cats Ordinals collection, promoting OP_CAT. In April, it published a white paper, outlining a framework for building apps using OP_CAT.

Also Read: Binance Burns 1.35 Billion Terra Luna Classic, Crypto Exchange’s Net Burn Hits 60 Bln

Some Other Features of OP_CAT

Henry Elder, a principal at UTXO Management, claims the upgrade has the potential to add use cases of every chain to Bitcoin.

OP_CAT could enable non-equivocation contracts that penalize someone trying to spend the same coin twice. Also, the upgrade can provide a wallet owner with the advantage of reversing hacked transactions in a short period of time.

Adam Back, chief executive officer of Blockstream, said the OP_CAT upgrade boosts Bitcoin custody benefits from some extra programmability. The additional programmability enables more Layer 2 capabilities such as better bridges for more easy and secure transactions.

OP_CAT upgrade could get consensus to proceed with Bitcoin network upgrade in four months or maybe years. The timeline for the upgrade remains unclear.

Also Read: President Biden, SEC Face Backlash From Coinbase, Ripple, Crypto Industry

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.


The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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