OP_CAT, a proposal aimed at introducing Ethereum-like smart contract functionality to Bitcoin, has been assigned the Bitcoin Improvement Proposal (BIP) number 347, marking the first step towards potentially implementing this long-discussed software upgrade. Co-authors Ethan Heilman and Armin Sabouri have emphasized that receiving a BIP number mainly facilitates discussion around the proposal by providing a unique identifier, despite no consensus yet within the community. The proposal has reignited debate between those who wish to preserve Bitcoin’s role solely for monetary transactions and those who advocate for building more complex applications on the Bitcoin network, with OP_CAT serving as a catalyst for discussions on expanding Bitcoin’s capabilities through “covenants” that dictate transaction rules.
OP_CAT Proposal Assigned BIP-347, Aims to Enhance Bitcoin With Ethereum-Style Smart Contracts
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