Cobra Reminder: There may be a new Bitcoin soft fork next year

2024-12-03 21:02:34
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ChainCatcher news, according to Bitcoin.com, the operator and owner of the bitcoin.org domain, Cobra, has alerted the community about new dynamics in the Bitcoin world: Unrecognized Bitcoin users outside of Bitcoin Core will be preparing to introduce a user-activated soft fork (UASF) next year.

CTV stands for "Check Template Verify," which is a series of improvements introducing the concept of Bitcoin contracts. Contracts are structures that establish conditions for Bitcoin spending within specific wallets. Described by Jeremy Lubin in Bitcoin Improvement Proposal 119 (BIP 119), these allow for interesting developments to enhance the security of Bitcoin transactions. One of these is a vault, which has spending conditions for cold storage addresses, forcing users to send transactions to a single designated wallet asset.

Additionally, users can cancel these transactions before a designated time to prevent erroneous or malicious transactions.

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