Home / Crypto News / Integration of BIP 174 to Bitcoin will guarantee transactions without an Internet connection | CriptoNoticias

Integration of BIP 174 to Bitcoin will guarantee transactions without an Internet connection | CriptoNoticias

The Bitcoin Improvement Proposal 174 (BIP 174) has been added to the Bitcoin repository, paving the way for Partially Signed Transactions (PSBT) to become a reality, facilitating transactions multifirm. This would allow offline transactions to be signed and there would be a common format for the information needed to perform this process. Several Bitcoin developers have worked for almost a month doing tests to include this definitive modification to the protocol.

Recall that the main objective of this BIP is to create a common format to perform PSBT, which would allow Bitcoin transactions can be signed even without a direct connection to the Internet regardless of the implementation with which the portfolio that issues the transaction works. 22 days ago the proposal was added to the Bitcoin repository by Andrew Chow, who originally created it, and has relied on the work of developers like Peter Wuille for testing its operation.

Also, when specifying a format single binary for the supply of this information, BIP 174 guarantees that any implementation of the protocol will be able to take advantage of this feature that is, the portfolios must not coincide in the implementation for the offline signature of the transactions be successful. This will help to expand the complexity of transactions, allowing the network to work with progressive steps of signing and not just private keys.

Currently the creation of unsigned or partially signed transactions depends on the implementation of each client. or application. The proposed standardization eliminates this difficulty, benefiting the coexistence of these implementations and their developments on the network.

As the developer Alex Bosworth affirms, he was pleased with this integration:

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