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Author: Admin | 2025-04-28
Bitcoin Improvement Proposal (BIP) is a design document for introducing features or information to Bitcoin. The BIP should provide a concise technical specification of the attribute and a rationale for the feature. This is the standard way of communicating ideas since Bitcoin has no formal structure.The first BIP (BIP 0001) was submitted by Amir Taaki on 2011-08-19 and described what a BIP is.Contents1 Types of BIPs2 BIP Life Cycle3 Important BIPs4 Consequences5 Source6 See Also on BitcoinWikiTypes of BIPsThere are three major types of BIPs:Standards Track BIPs – Such types of BIPs entail making changes to the network protocol, block, or transaction validation method. It also intends to affect the interoperability of the two versions of BIPs or Bitcoin. This type of BIP certainly requires community consensus. An example of this is BIP 91.Informational BIPs – Such types of BIPs highlight the design issues, general guidelines, and supporting information. Informational BIPs, as the name suggests, are just for information’s sake and can be taken seriously or ignored by the community. An example of this is BIP 32.Process BIPs – These types of BIPs describe or propose a change in the process. They are similar to Standards Track BIPs and require community consensus. They can’t be ignored, but unlike Standards Track BIPs, they intend to be applied outside the Bitcoin protocol. An example of this is BIP 2.BIP Life CycleAccording to the type of BIP it is, it may require community consensus. But even before this consensus, when any of the
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