• About
  • Landing Page
  • Buy JNews
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
No Result
View All Result
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result

Blockstream's Rusty Russell Wants To Revamp Bitcoin Script

SB Crypto Guru News by SB Crypto Guru News
May 17, 2024
in Bitcoin
0 0
0
Blockstream's Rusty Russell Wants To Revamp Bitcoin Script



Blockstream's Rusty Russell Wants To Revamp Bitcoin Script

Rusty Russell, lead Lightning developer for Blockstream, is spearheading an ambitious initiative known as the Bitcoin script restoration project. This effort aims to restore and expand the functionality of Bitcoin’s script language, which was significantly limited in the early days of Bitcoin due to security concerns. In a recent interview with Bitcoin Magazine, Russell elaborated on the project’s goals and the potential it holds for the future of Bitcoin.

Rusty Russell and the Great Bitcoin Script Restoration Project (22:45)

A Look Back: Why OpCodes Were Disabled

When Bitcoin was first launched, its script language included a variety of operational codes (opcodes) that enabled complex programmable functions. However, many of these opcodes were disabled in 2010 due to severe security vulnerabilities. Satoshi Nakamoto, Bitcoin’s mysterious creator, made this decision to protect the network from potential denial-of-service attacks. This was a necessary move at the time, but it left Bitcoin’s script language much less capable than initially intended.

Rusty Russell recalls, “The house is burning down, you put the fire out, but then you rebuilt, right? And we never got that second stage.”

The Restoration Project: Bringing Back the Power

The Bitcoin script restoration project seeks to re-enable these disabled opcodes with proper safeguards in place. The goal is to bring back the powerful features of Bitcoin’s script language while ensuring the network remains secure. Here’s what the project aims to achieve:

  1. Handling Arbitrary Numbers: Restoring the ability to work with arbitrary numbers will allow more complex transactions and conditions, making Bitcoin more versatile.
  2. Enabling Introspection: This means giving scripts the ability to examine and verify transaction details directly, which can enhance security and functionality.
  3. Improving Self-Sovereignty and Privacy: By expanding the script language, users will have more control over their transactions and enhanced privacy features.

In the interview, Russell highlighted the importance of these features, saying, “We want that, right? We literally lost the ability to multiply or divide. I think there is, among people who are developing on top of Bitcoin, there’s an amazing hunger for this. They’re like, yes, can we have it all back?”

Why This Matters

Re-enabling these opcodes isn’t just about restoring lost functionality; it’s about unlocking new possibilities for Bitcoin. With a more powerful script language, developers can create innovative applications directly on the Bitcoin network. This can lead to more advanced financial products, enhanced privacy tools, and much more.

Rusty Russell expressed his optimism during the interview, “My whole life has been building stuff for other developers to do things on. So I have a huge amount of faith in open ecosystems and their ability to innovate. And the things that will get built on top of a solid base are amazing.”

Ensuring Security

One of the primary concerns in this restoration project is maintaining the security of the Bitcoin network. The project aims to introduce these powerful features with limits that prevent potential abuse. This ensures that while Bitcoin becomes more capable, it doesn’t become vulnerable to the same issues that caused these features to be disabled in the first place.

Looking Forward

The Bitcoin script restoration project is a crucial step toward realizing the full potential of Bitcoin as a programmable money system. By addressing past security concerns and reintroducing powerful features with appropriate limits, the project aims to create a scalable, secure, and innovative ecosystem for Bitcoin.

As Rusty Russell put it in his interview, “Let’s restore script to what it was supposed to be originally. And we think we have a way of doing that that’s clean and neat and safe.”

This project not only looks to the past to recover lost functionalities but also paves the way for future innovations, ensuring Bitcoin continues to evolve and meet the needs of its users.



Source link

Tags: BitcoinBitcoin NewsBlockstream039sCrypto NewsCrypto UpdatesLatest News on CryptorevampRussellRustySB Crypto Guru NewsScript
Previous Post

Understanding Wormhole Messaging in Blockchain Interoperability

Next Post

Miners Eye Middle East as Next Region for Growth

Next Post
Miners Eye Middle East as Next Region for Growth

Miners Eye Middle East as Next Region for Growth

  • Trending
  • Comments
  • Latest
Meta Pumps a Further  Million into Horizon Metaverse

Meta Pumps a Further $50 Million into Horizon Metaverse

February 24, 2025
The Metaverse is Coming Back! – According to Meta

The Metaverse is Coming Back! – According to Meta

February 7, 2025
How to Get Token Prices with an RPC Node – Moralis Web3

How to Get Token Prices with an RPC Node – Moralis Web3

September 3, 2024
AI & Immersive Learning: Accelerating Skill Development with AI and XR

AI & Immersive Learning: Accelerating Skill Development with AI and XR

June 4, 2025
NFT Rarity API – How to Get an NFT’s Rarity Ranking – Moralis Web3

NFT Rarity API – How to Get an NFT’s Rarity Ranking – Moralis Web3

September 6, 2024
Samsung Unveils ‘Moohan’ to Compete with Quest, Vision Pro

Samsung Unveils ‘Moohan’ to Compete with Quest, Vision Pro

January 29, 2025
Bitcoin Enters New Era: Derivatives Dominate As Futures Volume Hits 0 Trillion

Bitcoin Enters New Era: Derivatives Dominate As Futures Volume Hits $650 Trillion

0
Why Liquidity Matters More Than Ever For Bitcoin

Why Liquidity Matters More Than Ever For Bitcoin

0
Crypto Investor Fought Attackers, Dodged Kidnapping Plot

Crypto Investor Fought Attackers, Dodged Kidnapping Plot

0
Bitcoin Gains as Altcoins Falter in June 2025 Amid Institutional Inflows

Bitcoin Gains as Altcoins Falter in June 2025 Amid Institutional Inflows

0
Comment | Now is the time to fight for US arts funding – The Art Newspaper

Comment | Now is the time to fight for US arts funding – The Art Newspaper

0
Bitcoin Bullish MACD, Monthly Close Fuel Bullish Outlook

Bitcoin Bullish MACD, Monthly Close Fuel Bullish Outlook

0
Bitcoin Enters New Era: Derivatives Dominate As Futures Volume Hits 0 Trillion

Bitcoin Enters New Era: Derivatives Dominate As Futures Volume Hits $650 Trillion

July 5, 2025
Bitcoin Bullish MACD, Monthly Close Fuel Bullish Outlook

Bitcoin Bullish MACD, Monthly Close Fuel Bullish Outlook

July 5, 2025
Amber International Raises .5M to Boost 0M Crypto Reserve

Amber International Raises $25.5M to Boost $100M Crypto Reserve

July 5, 2025
WLFI Token Could Soon Be Tradable—Early Supporters Set for Partial Unlock

WLFI Token Could Soon Be Tradable—Early Supporters Set for Partial Unlock

July 5, 2025
Bitcoin Gains as Altcoins Falter in June 2025 Amid Institutional Inflows

Bitcoin Gains as Altcoins Falter in June 2025 Amid Institutional Inflows

July 5, 2025
Bitcoin Sees Profit‑Taking As Lawmakers Gear Up For ‘Crypto Week’

Bitcoin Sees Profit‑Taking As Lawmakers Gear Up For ‘Crypto Week’

July 5, 2025
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at SB Crypto Guru News.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.