we finally has a
https-like encryption to Bitcoin
The most important development in my opinion is that by relying on the session ID, we will have guaranteed that there is no malicious man-in-the-middle by matching the ID with the real user, in addition to the possibility of adding future authentication pairs and increasing the risk of knowing about the passive attack.
Did not know about this upgrade, but now due to this topic, I realize how important BPI324 is. As I did some research on my own. And found out it is still under development from 2019 and if it really has that much potential then I hope it will be completed soon. But the funny thing is, I am not a Core user or a node user, or have to do anything with validations, conformation, miner, etc. Just saying.
But still, it will help the overall ecosystem of BTC and it will help the users like me. I will bookmark this, for further knowledge that others will post here.
1) You or anyone can submit a BIP proposal and some discussion about it is captured and published in the Bitcoin Core GitHub and only then needs approval and implementation.
2) Approval may take some time and many stages of experimentation and implementation, for example
https://github.com/bitcoin/bitcoin/pull/28374 3) Then it will either be withdrawn or rejected. For example, in the past there was earlier BIP-151, which was withdrawn when BIP324 was added.
4) according to Improvement, whether it is compatible with the old nodes and here is a softfork or not, and we need a hardfork that will determine the execution time.
5) it is implemented in some wallets to reach a large part of Softwares
For example, even the BIP 39 upgrade (mnemonic backup aka wallet seeds) is not used by Bitcoin Core.