OP is short for Operation. An OP is a unit of functionality in the Bitcoin script language. There are OPs for things like “does this signature match”.
CTV stands for Check Template Verify. Broadly, when an OP code has Verify in its name, it will cause the entire script to fail if the condition is not met.
Check Template means that the condition checks whether the output of the proposed spending transaction matches pre-specified valid outputs (that is, a pre-specified Template). This would allow transactions to stipulate how an output can be spent.
Currently there is no way to put restrictions (covenants) on where spent outputs can go. Enabling OP_CTV on Bitcoin would require a soft-fork (like SegWit and Taproot did). https://bitcoinops.org/en/topics/op_checktemplateverify/
jimbocoin / jimbocoin 🃏
npub1v9…x9q3h
2023-12-27 20:10:46
in reply to nevent1q…vj3c
Author Public Key
npub1v9qy0ry6uyh36z65pe790qrxfye84ydsgzc877armmwr2l9tpkjsdx9q3hPublished at
2023-12-27 20:10:46Event JSON
{
"id": "fc30c5205d083fb4bc32ca0f92abc1e02021122960e315992107723ae932877c",
"pubkey": "6140478c9ae12f1d0b540e7c57806649327a91b040b07f7ba3dedc357cab0da5",
"created_at": 1703707846,
"kind": 1,
"tags": [
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],
[
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"11656187cc9e55488b7217aeaddfee1552e25338c1a52dca5b1539581e5e5616"
],
[
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[
"r",
"https://bitcoinops.org/en/topics/op_checktemplateverify/"
]
],
"content": "OP is short for Operation. An OP is a unit of functionality in the Bitcoin script language. There are OPs for things like “does this signature match”.\n\nCTV stands for Check Template Verify. Broadly, when an OP code has Verify in its name, it will cause the entire script to fail if the condition is not met.\n\nCheck Template means that the condition checks whether the output of the proposed spending transaction matches pre-specified valid outputs (that is, a pre-specified Template). This would allow transactions to stipulate how an output can be spent. \n\nCurrently there is no way to put restrictions (covenants) on where spent outputs can go. Enabling OP_CTV on Bitcoin would require a soft-fork (like SegWit and Taproot did). https://bitcoinops.org/en/topics/op_checktemplateverify/",
"sig": "d748788d8e17da58f1fb43fde6d26f8c34e8ea158b020cceca6aabe0be3944536720776d21f7591ba22009cf43b2a53d96673c876252715a855699c6f9ddfff6"
}