Are Bitcoin covenants scary?
Back in 2010, Satoshi Nakamoto disabled OP_CAT – one of the opcodes that could be used to create covenants.
Today, the most popular proposals are CTV and a diminished version of CAT. Are they dangerous for Bitcoin?
According to Blockstream researcher Andrew Poelstra, the threats are overstated and the benefits are much greater than any possible drawback.
Covenant can help the Lightning Network scale, can improve the power of BitVM, and can enable proper two way pegs to create trust-minimized sidechains.
Listen to S15 E17 of the Bitcoin Takeover podcast to learn more!
#bitcoin #bitcointakeover #bitcoinpodcast #blockstream #research #bitcoinresearch #covenant #bitcoincovenant #scalingbitcoin #ctv #cat #satoshinakamoto #bitcointakeoverpodcast #btctkvr
https://youtube.com/shorts/5KmDMj3p3Zw?si=Ce_rJ-vJuV58g7hv
Vlad / Vlad @ BTCTKVR.com
npub12q…ypdx8
2024-03-07 23:34:57
Author Public Key
npub12qz56plzehejkyp4waaannmnny4y4c30j8q55a3wlk49haslga2snypdx8Published at
2024-03-07 23:34:57Event JSON
{
"id": "c002dd40e372568099e7087b07e369a72eb81dd73e6bab2000f7ad5113810585",
"pubkey": "50054d07e2cdf32b1035777bd9cf73992a4ae22f91c14a762efdaa5bf61f4755",
"created_at": 1709854497,
"kind": 1,
"tags": [
[
"t",
"bitcoin"
],
[
"t",
"bitcointakeover"
],
[
"t",
"bitcoinpodcast"
],
[
"t",
"blockstream"
],
[
"t",
"research"
],
[
"t",
"bitcoinresearch"
],
[
"t",
"covenant"
],
[
"t",
"bitcoincovenant"
],
[
"t",
"scalingbitcoin"
],
[
"t",
"ctv"
],
[
"t",
"cat"
],
[
"t",
"satoshinakamoto"
],
[
"t",
"bitcointakeoverpodcast"
],
[
"t",
"btctkvr"
],
[
"r",
"https://youtube.com/shorts/5KmDMj3p3Zw?si=Ce_rJ-vJuV58g7hv"
]
],
"content": "Are Bitcoin covenants scary?\n\nBack in 2010, Satoshi Nakamoto disabled OP_CAT – one of the opcodes that could be used to create covenants. \n\nToday, the most popular proposals are CTV and a diminished version of CAT. Are they dangerous for Bitcoin?\n\nAccording to Blockstream researcher Andrew Poelstra, the threats are overstated and the benefits are much greater than any possible drawback. \n\nCovenant can help the Lightning Network scale, can improve the power of BitVM, and can enable proper two way pegs to create trust-minimized sidechains. \n\nListen to S15 E17 of the Bitcoin Takeover podcast to learn more! \n\n#bitcoin #bitcointakeover #bitcoinpodcast #blockstream #research #bitcoinresearch #covenant #bitcoincovenant #scalingbitcoin #ctv #cat #satoshinakamoto #bitcointakeoverpodcast #btctkvr\n\nhttps://youtube.com/shorts/5KmDMj3p3Zw?si=Ce_rJ-vJuV58g7hv",
"sig": "7014160ffa6888f0319263b8afb69726409639cba5aedded0108b185c87ebb22e9838cac632feed7e46c5977a619254c30e35de0ad9b740ea7ad9754a643d7ae"
}