Bitcoin blockchain’s reputation as a network that mainly supports digital gold may be changing as efforts gain traction to add new features via a software upgrade to its code.
In fact, it’s been left unchanged on purpose, as the fewer the changes, the more likely it is to remain stable and secure, the logic goes. Some believe OP_CAT could be the first step toward challenging that notion, and heavyweights in the crypto space are starting to sign onto the idea. For example, OP_CAT could enable so-called non-equivocation contracts — Bitcoin contracts that penalize someone for trying to spend the same coin twice. Or, if a person’s wallet gets hacked, the owner may have some time to reverse the hacked transactions.
Improved custody For Heilman who introduced OP_CAT, the features may help Bitcoin users keep their digital gold more secure, building so-called vaults for better storage. Just when and if an upgrade will be implemented is still up in the air, especially with die-hard Bitcoin maxis, which include MicroStrategy’s Michael Saylor — believing it’s the best cryptocurrency around just as it is.
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