What Is A Bip?

Smaller changes to Bitcoin, such as bug fixes, code refactoring, or minor efficiency improvements are not included bitcoin improvement proposal in BIPs. Rather, these changes are submitted directly to Bitcoin’s codebase as proposed code changes.

Ethereum Improvement Proposals are standards specifying potential new features or processes for Ethereum. EIPs contain technical specifications for the proposed changes and act as the “source of truth” for the community. Network upgrades and application standards for Ethereum are discussed and developed through the EIP process.

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• Process BIPDescribes a bitcoin process, or proposes a change to a process.
• Process BIPs are like standard BIPs but apply to areas other than the bitcoin protocol itself.
• – A BIP is short for a Bitcoin Improvement Proposal and as the name suggests, they are proposals on how the bitcoin network can be improved.
• BIPs are one of the most exciting and important parts of how Bitcoin works since they allow for such free and open collaboration by the people who use bitcoin.
• What makes BIPs so amazing is that anyone can submit a proposal on how they think the bitcoin network should improve and if wallets and/or miners want it, then it will be implemented.
• Examples include procedures, guidelines, changes to the decision-making process, and changes to the tools or environment used in bitcoin development.

Millions of developers and companies build, ship, and maintain their software on GitHub — the largest and most advanced development platform in the world. With a week to go until Aug. 1, the value of bitcoin cash versus bitcoin will gauge the market’s confidence in this new rival prevailing in bitcoin’s raging internal conflict. One exchange has started a futures market for bitcoin cash, since it doesn’t actually exist yet. On its first day of trading, on July 23, one unit of bitcoin cash traded for aroundhalf a bitcoin. It has slipped to around 0.2 bitcoin per bitcoin cash at the time of writing. Just as the bitcoin world thought it was safe, a new threat to the cryptocurrency’s stability has emerged. Question feed To subscribe to this RSS feed, copy and paste this URL into your RSS reader.

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But since it’s a sidechain solution to the core BTC blockchain, it still qualifies to be considered a BIP. Process BIP recommends a change in various processes but not to Bitcoin’s source code. The BIP is more of an intermediate between standard and Informational BIP. Unlike the latter, a process BIP commands the attention of the members and thus not worth ignoring. Examples of these BIPs are a shift in the decision-making process or a change in tools or Bitcoin environment.

One very common BIP that has been implemented by most bitcoin wallets is BIP 32 . If you are using a wallet that creates a new address after each payment you receive, you are using a BIP 32 wallet. This particular BIP didn’t require any sort of change to the bitcoin software; it only required wallet creators to adopt an open-source piece of software. If you are using a wallet that creates a new address after bitcoin improvement proposal each payment you receive, you are using a wallet with BIP 32 support. Even though there still seems to be a lot of people hell bent towards not compromising at all, there are definitely signs of people looking to find the right compromise. It’s not certain this new BIP will be taken further, but it shows the growing trend to find consensus is important to most people from both sides of the debate.

Additionally, some BIPs promise a lot and after implementation, they deliver very little. These are some of the issues bottlenecking the progress of Bitcoin.

Additionally, some BIPs are proposed changes to the BIP process itself. GitHub is home to over 50 million developers working together to host and review code, manage projects, and bitcoin improvement proposal build software together. 3,4,5) The voting usually resolves after N blocks, say 100 for example. Statistically, with 1% of the network’s mining power you will have one vote .

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Browse other questions tagged mining-theory governance bip voting or ask your own question. I’ll try to answer your questions specifically, but here’s a good read on how Bitcoin votes on upgrades.

Miners, the development community and businesses have finally agreed on a scaling solution. Over 63 percent of bitcoin’s hash power is now signaling for the activation of Bitcoin Improvement Proposal 91 or Segwit. It’s almost a common fact that even though Bitcoin is a very ingenious project that worked flawlessly on paper, has been struggling with scalability issues for quite some time now.

According to renowned Bitcoin Core developer Peter Todd, having an adversarial mindset is one of the most valuable abilities to have as a code contributor. You need to be able to contemplate all the possible ways a bad actor might try to game the code to his/her own advantage and fix those bitcoin improvement proposal potential loopholes. Few programmers are blessed with such ability, which explains the relative small number of top Bitcoin Core developers. When I started to learn about bitcoin back in 2014, one of the first questions I remember asking myself was “how are changes made to bitcoin?

Bip Process Cycle

As the top and most cherished cryptocurrency, Bitcoin has been able to gain the support of many proponents. Thanks to its ever-expanding population , the currency now has to reinvent itself in order to remain relevant to its users. Changes to the bitcoin network are introduced through Bitcoin Improvement Proposal. Bitcoin Core is the reference implementation for the Bitcoin source code, meaning all other implementations look to Core for guidance. Bitcoin Core was started by Satoshi Nakamoto when they released the first version of Bitcoin’s source code.

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Every merge commit must be signed by a valid PGP key of a Bitcoin Core maintainer. Merge commits that have been signed by a maintainer, will subsequently be merged with the Bitcoin Core source code and included in the next software update to be released to the public. Only a handful of people have so-called ‘commit access’, which is the ability to sign merge commits, in view of merging the new code with the Bitcoin Core source code. Following bitcoin improvement proposal the discussions regarding the draft BIP, you (i.e. the author) may formally submit the proposal to the BIP GitHub repository as a pull request, where the BIP may get further feedback from the community. It is up to the draft BIP author to try to find consensus within the developer community. subscribe to the bitcoin-dev and bitcoin-discuss mailing lists and dive into the bitcoin-dev archives and the bitcoin-discuss archives.

The proposals are numbered when the draft proposal meets certain specific criteria. It has to comply with the formatting requirement and also the proposals have to be considered complete. The adoption of BIP is done when developers implement the code and run the code. The draft proposal is discussed more informally on the Bitcoin development mailing list, the bitcoin improvement proposal Internet Relay Chats, and on other different venues. The BIP editor can reserve certain ranges of numbers for proposals around a common theme. BIPs can include consensus-critical changes but also other changes that benefit from coordination across different Bitcoin software implementations, such as changes to the peer-to-peer layer or new backup seed formats.