Blockchain

BIP 87: Segregated Witness (consensus layer) 🌐 is a major upgrade to Bitcoin’s blockchain system, designed to enhance scalability and security 💪. It separates transaction signatures (witness data) from regular transaction data 📝, making it possible to store and process more transactions efficiently ✅. By tackling a vulnerability called transaction malleability, SegWit effectively solves the […]

Welcome to the world of BIP 86, a world enhancing Bitcoin’s cryptography game! 🌐💪 BIP 86 is all about Key-Based ECDSA (Elliptic Curve Digital Signature Algorithm) for the Bitcoin Improvement Proposal. 📝🔐 It’s a fancy way of saying that it streamlines, simplifies, and beefs up 🔧🚀 the existing complex process of creating signatures for user-friendly

BIP 85 📝 is a cool Bitcoin Improvement Proposal that lets you generate multiple, secure seeds from just one BIP 32 keychain 🔑. It simplifies key management 💼 and enhances wallet security 🔐. With BIP 85, your master private key is basically the root of all your crypto-life 🌳, and you can create an infinite

Hey there! 👋 BIP 84 is all about simplifying the way we create and manage Bitcoin wallet addresses. 🚀 It stands for Bitcoin Improvement Proposal 84, which is a derivation scheme specifically designed for P2WPKH (Pay-to-Witness Public Key Hash) accounts. 🔐 In simpler terms, it’s a more efficient approach for generating wallet addresses that are

Hey there! 👋 BIP 83, also known as Replace-by-Fee (RBF) signalling, is a neat feature in Bitcoin transactions 🚀. When sending a transaction, the sender can opt to mark it with an RBF flag 🏳️, meaning it can be replaced with a new transaction with a higher fee 💰. This comes in handy when a

BIP 81 is a proposal 📝 designed to enhance Bitcoin’s 🌐 scalability by increasing the maximum block size ⬆️. This boost allows more transactions to be included in each block, speeding up the network 🚀! The suggested approach uses a parametric curve 📈, which adjusts ⚙️ the block size based on the proof-of-work (PoW) threshold.

BIP 80: CoinVote 🗳️ is an innovative proposal aimed at achieving fair, decentralized decision-making in the Bitcoin community 💬. By using a “Proof of Burn” mechanism, it promotes the concept of “One-CPU-One-Vote” 🖥️🗳️, ensuring that everyone has an equal say 🧑‍💼💁‍♀️. Participants voluntarily “burn” their coins 🔥💰 by sending them to an unspendable address as

BIP 8: Version bits with lock-in by height 📈 is a Bitcoin Improvement Proposal 📝 that aims to streamline the process of updating Bitcoin’s consensus rules 🤝. It builds upon BIP 9 by incorporating block height 📏 as a method to lock-in proposed changes once the majority of miners signal their support. By providing an

BIP 79, or User Activated Soft Fork (UASF) 🚀 is a neat and exciting mechanism that lets Bitcoin’s community establish consensus 💪 for new upgrades through their nodes 📡, even without the direct support of miners ⛏️. This serves to decentralize the decision-making process 🌐 and takes power away from just a few participants, ensuring

Get ready, because we’re diving into the fantastic world of Bitcoin Improvement Proposals 🚀! BIP 78: Minimum Viable Multisig is an essential proposal that streamlines the setup and use of multisig wallets 💼🔐. With this protocol, at least two parties must approve a transaction—adding a layer of security and protection for your precious Bitcoins 💰🙌.