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btc bip119
BIP-119 - utxos.org - Bitcoin for Everyone.
Core Pull Request. Next-Gen Smart Contracts for Bitcoin. BIP-119 OP_CHECKTEMPLATEVERIFY is a simple proposal to power the next wave of Bitcoin adoption and applications. The underlying technology is carefully engineered to be simple to understand, easy to use, and safe to deploy.
Jeremy Rubin BitMEX Blog.
Jeremy Rubin is the founder of Judica, a Bitcoin R&D Lab. He has been a Bitcoin contributor since 2016, but has worked in the community since 2013. Previously, Jeremy co-founded Scaling Bitcoin and the MIT Digital Currency Initiative. Jeremys main contributions to Bitcoin focus on code changes that deal with resource utilisation, performance, and security.
bips/bip-0119.mediawiki at master bitcoin/bips GitHub.
Key-reuse with CHECKTEMPLATEVERIFY may be used as a form of forwarding" address contract .A" forwarding address is an address which can automatically execute in a predefined way.For example, a exchange's' hot wallet might use an address which can automatically be moved to a coldstorage address after a relative timeout. The issue is that reusing addresses in this way can lead to loss of funds.Suppose one creates an template address which forwards 1 BTC to cold storage.Creating an output to this address with less than 1 BTC will be frozen permanently.Paying more than 1 BTC will lead to the funds in excess of 1BTC to be paid as a large miner fee.CHECKTEMPLATEVERIFY could commit to the exact amount of bitcoin provided by the inputs/amount of feepaid, but as this is a user error and not a malleability issue this is not done.Future soft-forks could introduce opcodes which allow conditionalizing which template or scriptbranches may be used based on inspecting the amount of funds available in a transaction.

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