Greetings folks So I am sure we are all aware how Bitcoin is a digital store of value which is both secured and unique for that it's very much and impossible for any hackers to hack into the network. Well recently I was doing some research and unfortunately I found out that in the year 2010 when Bitcoin was created Satoshi the creator of Bitcoin actually removed some of the advanced tools like the OP_CAT.This was removed because Satoshi Nakamoto believed that it could crash the network.
Check out this link on why it was removed: https://river.com/learn/terms/o/op-cat/?hl=en-GB.
check out this link also on what most folks think about it..
https://www.reddit.com/r/Bitcoin/comments/1f19sy6/why_are_people_so_upset_about_op_cat/.
Unfortunately For years now Bitcoin as we know it has been working that way. In the sense if a hacker gets hold of your key immediately they open the wallet all the person's funds would be gone forever. And as we all know in the crypto space we are our own bank so there would be nobody to blame.For that it's said that since 2013 many developers have been working on what is known as a covenants. And in the year 2023 there was a proposal called OP_VAULT which introduced a new idea known as the 24 hour Waiting Room.Check out this image of how OP_VAULT works and the link of the discussion:
https://www.reddit.com/r/Bitcoin/comments/11so39n/op_vault_is_a_proposed_upgrade_to_bitcoin_you_can/based on my understanding it's s said that when a hacker gains access to your wallet and then tries to spend your Bitcoin the money will not immediately go. In other words it would stay in a waiting room for just 24 hours which if I may say is enough time for a user to have the chance to cancel the transaction once they figured out that a hacker is trying to take their money. By using a backup key it would eventually stop the transactions immediately, and then your coins would be moved to a private secure place where only you as the user can reach.
So yeah folks, I will really like to hear your opinions on this topic because it got me carried away the moment I saw it. And based on everything that I have come across I like to believe that while the OP_CAT and OP_VAULT may have their advantage, do you think it's a good idea basically, Satoshi removed it for a very specific reason because he believed it would affect the entire Bitcoin network so, is bringing either one of them even a good idea
Link Bitcoin’s Next Major Upgrade? An Assessment of OP_CAT & OP_CTVhttps://www.galaxy.com/insights/research/bitcoins-next-major-upgrade-op-cat-and-op-ctv?hl=en-GB
