Ethereum: What BIPs are Supported by the Standard Client Bitcoin Core

The Ethereum network is built on top of the underlying Bitcoin protocol, which was introduced in 2009. However, unlike its parent network, Bitcoin Core (BTC-C) does not follow a single, unified standard for implementing external applications and protocols. Instead, it uses a modular architecture known as the “Common Blockchain” (CB), which comprises various components that can be used to implement different types of blockchain-based projects.

In recent years, several new blockchains have emerged, including Ethereum’s own smart contract platform, Ethereum Classic (ETC). As a result, some BIPs (Bitcoin Improvement Proposal) have been added or removed from the CB, leading to differing implementations on various versions of Bitcoin Core. In this article, we will explore what BIPs are supported by the standard client Bitcoin Core and why their status may be changing.

What are BIPs?

BIPs are proposals that outline how a new blockchain should behave in certain situations, such as creating new blocks or validating transactions. They can also describe additional features or functionality that might not be part of the original Bitcoin protocol. In other words, BIPs are “optional” improvements to the underlying network.

Supported BIPs by Bitcoin Core

Bitcoin Core supports a number of BIPs from the Ethereum Improvement Proposal (EIP) 101 and EIP 102 series. These proposals were released in November 2017 and March 2018, respectively, as part of the development process for Ethereum Classic (ETC), a fork of the original Bitcoin blockchain.

The following BIPs are currently supported by Bitcoin Core:

• BIP 101: Allows the creation of new blocks with a timestamp that can be used to implement a “timestamp” protocol. This feature is not strictly necessary for Bitcoin, but it provides additional functionality for certain use cases.

• BIP 103-115: These proposals add support for multiple types of cryptocurrency mining algorithms and improve the overall efficiency of the blockchain network.

Why are BIPs changing?

As mentioned earlier, BIPs are not considered part of the main Bitcoin protocol until they reach “active” status. This means that any changes to a proposal are only effective when it is officially approved by the developers of the underlying project (in this case, Ethereum).

Bitcoin Core’s developers have made efforts to implement multiple versions of the CB to accommodate different BIPs and their associated implementations. However, as more proposals are added or removed, Bitcoin Core may need to update its underlying codebase to keep up with these changes.

Conclusion

The standard client Bitcoin Core has supported a number of BIPs from Ethereum’s EIP 101 and EIP 102 series since November 2017. While some BIPs are currently compatible with the current version of Bitcoin Core, others may need to be updated or modified in the future. As new proposals are released, we can expect to see further changes to the CB and its associated implementations.

Note:

This article is intended for informational purposes only and should not be considered as investment advice. Always conduct thorough research before investing in any cryptocurrency or blockchain-based project.