Bitcoin Optech #156: BIPs, Standards Documents And More
This week’s newsletter describes BIPs for output script descriptors, standards documents for LN Protocol interoperability, and more.The Bitcoin Optech newsletter provides readers with a top-level summary of the most important technical news happening in Bitcoin, along with resources that help them learn more. To help our readers stay up-to-date with Bitcoin, we're republishing the latest issue of this newsletter below. Remember to subscribe to receive this content straight to your inbox.This week’s newsletter describes a set of BIPs for output script descriptors, summarizes a proposal to....
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BIPs (Bitcoin Improvement Proposals) are design documents for introducing features or information to Bitcoin's community. Since Bitcoin has no formal structure, this has become the standard for communicating new ideas. The first BIP was submitted by Amir Taaki on August 19th, 2011. BIPs are as text files and are the responsibility of the author to document. There are three kinds of BIP: Standards Track BIP. Changes to the network protocol, block or transaction validation, or anything affecting interoperability. Informational BIP. Design issues, general guidelines. This type of BIP is NOT....
This week’s newsletter describes two proposed BIPs related to wallet support for Taproot, and features Q&A from Bitcoin Stack Exchange.
Bitcoin improvement proposals are an essential part of cryptocurrency governance. Learn here what they are and how they work. What are the types of Bitcoin improvement proposals (BIPs)?There are three main kinds of BIPs: standard, informational and consensus BIPs.Standard BIPsThey identify standards used by Bitcoin software like wallets or exchanges and aim at changing the protocol; therefore, they require consensus to be approved. For example, they might submit encoding methods for securing Bitcoin or are recommended in the case of interoperability, which means that wallets should be able....
Payment platform BIPS has announced support for the ecommerce cart platform Bigcommerce, which is used by over 40,000 merchants across the globe. The new development means businesses can sidestep credit card transaction fees by using the easy, private and cost effective payment solution that is bitcoin. Kris Henriksen, CEO at BIPS, believes that passionate bitcoin enthusiasts will use the Bigcommerce integration to further expand the BTC economy. "Our company mission is to provide a comprehensive carrier-grade technical platform that enables our merchants to receive cryptocurrencies as....
This week’s newsletter features a letter from John Newbery, founder of Bitcoin Optech, information about IRC channel updates and more.