Bitcoin Improvement Proposal 347: OP_CAT Back to Bring Smart Contracts to BTC

IconCrypto News Terminal24 Apr, 2024

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Bitcoin Improvement Proposal 347: OP_CAT Back to Bring Smart Contracts to BTC

A proposal to introduce Ethereum-like smart contract functionality to Bitcoin, dubbed OP_CAT, has been assigned BIP number 347. BIPs are proposed improvements to the BTC network; they don’t imply any kind of consensus but do make it easier to draft proposals because they are given a unique numerical identifier. OP_CAT was included as one of the original opcodes (a programming shortcut built into Bitcoin) but was removed in 2010 by Bitcoin creator Satoshi Nakamoto after concerns were raised about excessive memory usage and the potential for vulnerabilities. Previously on May 12, 2024, Coindesk reported that a proposal to introduce Ethereum-like smart contract functionality to Bitcoin, dubbed OP_CAT, has been assigned BIP number 347. BIPs are proposed improvements to the BTC network; they don’t imply any kind of consensus but do make it easier to draft proposals because they are given a unique numerical identifier. OP_CAT was included as one of the original opcodes (a programming shortcut built into Bitcoin) but was removed in 2010 by Bitcoin creator Satoshi Nakamoto after concerns were raised about excessive memory usage and the potential for vulnerabilities.

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