This article was prepared using automated systems that process publicly available information. It may contain inaccuracies or omissions and is provided for informational purposes only. Nothing herein constitutes financial, investment, legal, or tax advice.
BIP-119, a long-dormant Bitcoin Improvement Proposal, is gaining traction and could significantly enhance Bitcoin’s layer-2 solutions like Lightning Network and Ark. Backed by key developers, it promises improved scalability, security, and self-custody options for users.
- BIP-119 introduces covenants and vaults to improve Bitcoin's self-custody and layer-2 scalability.
- The proposal is backed by prominent Bitcoin developers and could benefit Lightning Network and Ark.
- Bitcoin upgrades are infrequent; Taproot (2021) was the last major protocol improvement.
📎 Related coverage from: cointelegraph.com
Related Tags: Bitcoin