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A single absent capability in Bitcoin Script has ignited one of the most contested upgrade debates in the network's history, producing twelve competing proposals and no consensus in sight.
Cointelegraph Research has published the first installment of a deep-dive series examining what Bitcoin covenants are, how they would work, and what their addition could mean for the network's future.
What Covenants Would Change Covenants are a category of spending condition that would allow $BTC transactions to enforce rules not just on who can spend coins, but on where those coins can go next.
In plain terms, a covenant would let a sender program constraints that travel with the bitcoin itself, binding future transactions to specific conditions rather than simply requiring a signature at the point of spend.
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