The BIP-119 upgrade proposal, which could be Bitcoin’s next big update, already has a possible roadmap for its activation in the year 2022.
Jeremy Rubin, author of BIP-119, established an activation route similar to the one followed this year for the activation of Taproot, which occurred on November 14, 2021. The new proposal would come to Bitcoin through a soft fork in November of next year.
The BIP-119 introduces a type of “covenant” (agreement, pact) that allows to define the way in which bitcoins (BTC) can be spent. The covenant in question is named OP_CHECKTEMPLATEVERIFY u OP_CTV and it consists of a template or spending scheme of some currencies over time, before the issuers and receivers of the transactions.
In CriptoNoticias we reported this development when it was presented for the first time during 2020, highlighting the possibilities it offers to carry out transactions in batch or function in an automated way as a smart contract in Bitcoin.
Additionally, a programming language called Sapio is introduced, which according to Rubin turns out to be quite useful for displaying various types of transactions and practical concepts with OP_CTV.
In a publication made on December 24, Rubin explained what the activation route of the BIP-119 would be like, as well as other considerations and variables that will be specified or changed over time.
Jeremy Rubin (photo) proposes a way to activate his proposal in Bitcoin, although he clarifies that it is not final. Fountain. Taariq Lewis – YouTube
The BIP-119 is a soft fork, meaning that it will not break the Bitcoin consensus or require drastic changes to its software and protocol.
“March 15th [de 2022] the developers will reach an agreement on including the BIP-119 code [a Bitcoin Core]. On April 15, they must reach an agreement on the signage, which will take place from June 1 to September 1. The approximate block height for activation would be on the date of November 10, 2022 ”.
Jeremy…
