3min chapter

Bitcoin Rapid-Fire cover image

Jameson Lopp: Bitcoin Covenants, OP_VAULT, Upgrade vs. Ossification & Casa Changes

Bitcoin Rapid-Fire

CHAPTER

Bitcoin Concessions - What Are They?

There is this concept in Bitcoin of something called covenants and You know you have to get at least a little bit technical to understand What what is a covenant? Hopefully people at least understand that there's no such thing as a Bitcoin. So the only data structure that really exists are Transactions and blocks. When you want to spend Bitcoin value you have to find Transaction outputs that have not been spent before and use them as inputs to a new transaction.

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