Cryptocurrency Q&A
What is BiP 119?
What is BiP 119?
Rosalia
Mon Dec 09 2024
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7 answers
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BiP 119 is a proposed soft fork for the Bitcoin network, aimed at enhancing its programmability and scalability. It has been a topic of debate within the Bitcoin developer community since 2019, with discussions focusing on its potential to improve Bitcoin's functionality and user experience, particularly in terms of security and bulk transaction handling.
7 answers
Michele
Wed Dec 11 2024
The proposal, known as CheckOutputHashVerify, aimed to introduce congestion control on Bitcoin.
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Valentina
Wed Dec 11 2024
This technique was designed to facilitate the sending and confirmation of multiple payments to numerous users.
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Chiara
Wed Dec 11 2024
The main objective was to alleviate the burden on the blockchain during peak times.
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Lucia
Tue Dec 10 2024
By implementing this method, the blockchain could handle a higher volume of transactions more efficiently.
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Isabella
Tue Dec 10 2024
The proposal also had other potential applications beyond congestion control.
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