Bitcoin Study Group Tests Upgrades For Scaling And Privacy

A new bitcoin study group consisted of more than 200 developers are trying to find a way for ‘’Bitcoin Improvement Proposals’’ around Schnorr and Taproot upgrades to the premier crypto that can have its scalability and privacy improved so let’s find out more in the Bitcoin news today.

The bitcoin core contributor Anthony Towns, had the idea to gather as many developers as possible to review the changes and to battle-test the upgrades to make sure that the ideas are safe. Towns said:

“This is a way to make sure more people understand the proposal as early as possible.’’

The organizers have been calling this Bitcoin study group as an experiment and this style of a review has been organized so far but they are not sure how will they go on. Towns pointed to Chaincode developer John Newbery’s bitcoin review group as the model for getting the developers into the review process.

According to the project description, we can read that there aren’t many people that are familiar with reviewing BIPs in the first place and there are also many concepts that are involved in the three BIPs for people to consider twice. Square Crypto project manager Steve Lee, believes that there is a way for developers to get on board. He said:

 “People from all over the world have registered, and many names I have not heard of before.’’

In the middle of the code change, reaching a consensus very hard to do. Towns says that there is a three-step process: identifying the actual need for a change, writing down the code that will bring the change and have everyone use Bitcoin and adopt the new code so the change happens quicker. The Bitcoin study group is a part of the first stage where the participants have to scrutinize the BIPs or technical proposals in order to improve bitcoin. As per Towns:

“It’s where we get the details nailed down so that we can work out if things actually make sense or it’s all pie-in-the-sky dream.’’

Although it is a very long process, a lot of the BIPs have made the way to the bitcoin code in the past 10 years and the most popular one is the SegWit which paved the way for the lightning network’s technology.