Bitcoin developer Jeremy Rubin, in partnership with other contributors, is offering 5.5 BTC to anyone who finds any serious flaws in his proposed improvement for BTC.
Jeremy Rubin is one of the main developers behind the Bitcoin 119 improvement proposal (BIP119), which aims to improve the ability to create more complex smart contracts on the largest blockchain on the market.
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CheckTemplateVerify, or CTV for short, is the most discussed code update in the community today, with debates about the necessity, consensus and the supposed hurry of the bidders.
But in terms of safety, nothing serious has been found so far. There is one reward program offering 5.5 BTC to anyone who finds “a fundamental problem with CTV in the reference specification or implementation that makes it unsafe for inclusion in Bitcoin.”
The amount, equivalent at today’s price to more than R$1 million, was gathered by a number of enthusiasts of the proposal to encourage greater attention towards CTV and the checking of more developers to ensure that the update is safe.
The initial bounty on December 28, 2021 was just $10,000 from Jeremy Rubin himself, who stated who felt comfortable offering that amount because he was 99.9% sure there were no bugs in the code. However, other CTV supporters have added massive amounts of money to the reward program, totaling more than 5.5 BTC.
“Me trying to find bugs on CTV to redeem my own bounty,” tweeted Rubin.
A large amount of money put up for bug-finding definitely improves the community’s confidence in the update, but it’s not enough to say that we should implement it in Bitcoin now, suggest developers currently opposed to CTV’s proposal, like Adam Back.
Arguably, there is still a long way to go before consensus around BIP119 is reached, but the discussion is healthy for Bitcoin, whose decentralization is the highest quality, although it makes it difficult for developers who want to add new functionality to the software.
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