Udi Wertheimer, founder of Tarproot Wizards: Bitcoin OP_CAT activation probability is nearly 100%
- WBOYOriginal
- 2024-07-01 18:43:59833browse
It is understood that OP_CAT was launched on the Bitcoin test network Signet on May 1 and was assigned a BIP-420 number, indicating that the Bitcoin ecosystem is seriously considering upgrading it.
BIP, the full name of Bitcoin Improvement Proposal, is a formal proposal document used to make improvement suggestions to the Bitcoin community. Each BIP details potential improvements to the Bitcoin protocol or the way its technology works.
What is OP_CAT?
OP_CAT is the operation code in the early version of Bitcoin, but Satoshi Nakamoto was worried that OP_CAT might cause the memory usage to increase exponentially with the size of the instruction code, so OP_CAT was moved on August 15, 2010 remove.
However, in October 2023, Bitcoin Core developer Ethan Heilman and Botanix Labs software engineer Armin Sabouri jointly released a draft Bitcoin Improvement Proposal (BIP) called "OP_CAT", bringing OP_CAT back to everyone's attention view. It is mentioned in the draft that with the technology and development of blockchain in recent years, the problems caused by OP_CAT are no longer an obstacle.
OP_CAT provides the ability to combine script fragments. Before its introduction, each UTXO script was executed independently. With OP_CAT, we can split a complex execution logic into a series of combined simple script fragments and be Stored in different UTXOs and created by different transactions. When complete execution is required, the full node uses the OP_CAT instruction to splice these script fragments together in order to execute the trigger.
With OP_CAT, Bitcoin can implement more complex smart contract types, such as multi-signature contracts, time-locked contracts and other conditional payment contracts. This will make the Bitcoin network more competitive.
Udi Wertheimer is the number one fan of OP_CAT
Udi Wertheimer has publicly supported the restoration of OP_CAT on the Bitcoin network many times before. After OP_CAT officially received the Bitcoin proposal number BIP-420, Wertheimer posted a message to celebrate: "Introducing BIP- 420: OP_CAT’s official Bitcoin improvement proposal, this is a historic day! Today, after a long wait, the OP_CAT proposal officially received the BIP number. Meet BIP-420! BIP-420 supports Bitcoin contracts, allowing smart contracts, security Bridges, on-chain transactions, zk proof verification and more. This is an important step towards making Bitcoin magical again!”
Congratulations OP_CAT! Long live BIP-4.20!
On the other hand, the inscription series "Quantum Cat" launched by Udi Wertheimer in early February was actually released to commemorate "OP_CAT". The issue price of this series of works was 0.1 BTC. The floor price once touched 0.475 BTC and is now at 0.263 BTC.
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