Udi Wertheimer, founder of Tarproot Wizards: Bitcoin OP_CAT activation probability is nearly 100%

Recently, Udi Wertheimer, founder of the well-known Bitcoin Ordinals project Tarproot Wizards and Quantum Cats, revealed when participating in the Xverse Podcast that the probability of the Bitcoin function "OP_CAT" being enabled is close to 100%.

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.

The above is the detailed content of Udi Wertheimer, founder of Tarproot Wizards: Bitcoin OP_CAT activation probability is nearly 100%. For more information, please follow other related articles on the PHP Chinese website!