Swift Activation - CTV

Swift Activation - CTV

Original Postby alicexbt

Posted on: December 22, 2023 22:34 UTC

The discussion around the activation of CheckTemplateVerify (CTV) within the Bitcoin community indicates a consensus that more development is needed before it can be considered ready for deployment.

Despite a desire to utilize CTV for payment pools, several points of concern have been raised which warrant attention. Firstly, there is a lack of proof-of-concept (PoC) implementations addressing real-world problems on the mainnet. While there are incentives in place, offering a bounty ranging from 0.01 BTC to 1 BTC to encourage the creation of such PoCs as outlined at BIP Bounty, participation remains limited.

Furthermore, some misconceptions exist within the developer community regarding the capabilities of TXHASH, leading to an overestimation of its effectiveness in resolving all issues related to CTV. These misunderstandings necessitate further review, testing, and discussion. Adding to these challenges is the absence of a clear method for activating CTV, and the perception among many stakeholders that the proposed timeline for activation is overly ambitious. A more patient approach has been suggested, advocating for delaying activation by two years to ensure adequate preparation and application development.

In addition to these considerations, there is ongoing work by reardencode that could potentially enhance CTV and covenants broadly. Engagement with this work is encouraged, as evidenced by a specific GitHub issue created for addressing these improvements. If resolved with a pull request, this could provide significant progress—those interested can contribute via the provided link: GitHub Issue.

Despite any controversy or heated discussions that may have arisen from these debates, there remains an optimism that covenants will eventually be a part of Bitcoin, potentially enhancing both scaling and privacy for users. The sender signs off with a reference to their username, "/dev/fd0 floppy disk guy," and acknowledges the use of Proton Mail for secure email communication.