Bitcoin Developers Working With StarkWare, Blockstream Claim Breakthrough on Covenants
A group of Bitcoin developers has announced a breakthrough in adding "covenants" to the Bitcoin blockchain, enhancing wallet and vault features and improving layer-2 protocols. This method does not require changes to Bitcoin's core code, avoiding the complexities of achieving consensus for upgrades. The research paper titled "ColliderScript: Covenants in Bitcoin via 160-bit hash collisions" outlines this development. The initiative aims to increase Bitcoin's programmability and transaction efficiency, competing with Ethereum's capabilities while maintaining Bitcoin's security. Key contributors include Ethan Heilman, Victor Kobolov, Avihu Levy, and Andrew Poelstra. Some developers express skepticism about the practicality of the proposal, noting high execution costs but acknowledging its innovative potential.
