Official Bitcoin community announcements or major blockchain analytics platforms

Bitcoin's OP_CAT Assigned BIP-420, Enabling Covenants and Smart Contracts

Apr 23, 2024, 03:00 PM

The Bitcoin Improvement Proposal (BIP) system has officially assigned BIP number 420 to the OP_CAT proposal, marking a significant development in the Bitcoin community. Known as BIP-420, this proposal enables the implementation of covenants on Bitcoin, facilitating functionalities such as smart contracts, secure bridges, and other on-chain activities. This milestone was met with enthusiasm from the community, as it represents a historic advancement for Bitcoin's capabilities. Following this announcement, the price of Bitcoin experienced a notable increase.