12 Lines of Code Could End Bitcoin as We Know It (Hooray?)

TL;DR

• The ‘OP_CAT’ code could bring Ethereum-like functionality to BTC, but was originally deleted from Bitcoin core by none other than Satoshi Nakamoto!

Full Story

12 lines of code.

Apparently that’s all it takes…

12 lines of code, and…BOOM!

Some of Ethereum’s most popular functionality can easily be copied by Bitcoin.

Thing is — this ain’t new! In fact, this code used to be a part of Bitcoin…but it was deleted by none other than Satoshi Nakamoto, as he/she (they?) believed it exposed the network to massive security flaws.

And now three developers want to add this code, known as ‘OP_CAT,‘ back in.

There’re pros and cons to the proposal — so let’s rip the bandaid off — starting with…

Cons:

OP_CAT was removed from Bitcoin’s core code by Satoshi, because they believed it opened the network up to distributed denial-of-service (DDoS) attacks.

Imagine someone being able to remotely open 1000+ browser tabs on your computer, every second (the thing would damn near melt!).

DDoS attacks work in a similar way - the basic aim is to overwhelm the Bitcoin network with so much traffic that it’s forced to shut down.

Pros:

The Bitcoin community is staunch as hell when it comes to changing/updating Bitcoin’s core code. So this thing isn’t going to happen if it can’t be done safely.

Now, if it can be done safely — Bitcoin might be about to get very Ethereum-y.

Confused? Here’s what that means:

Right now, sending transactions on Bitcoin is like driving an armored tank to work each day — sure, it’s super secure…but it’s also slow and crazy expensive.

OP_CAT would allow ‘Ethereum-style’ layer 2’s to be easily built on Bitcoin — which would be akin to trading the armored tank in for a 1999 Toyota Corolla.

(I.e. faster, and cheaper).

On top of that, Ethereum-style platforms like decentralized exchanges (or even file hosting) would become much easier to build/implement on Bitcoin.

Sounds interesting. Let’s see if the BTC community will allow it!