What Are BIPs and Why Do They Matter?

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What Are BIPs and Why Do They Matter?
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Since Bitcoin doesn't have centralized leadership, Bitcoin Improvement Proposals (BIP) are essential for the community to discuss and approve any upgrades. sndr_krisztian takes you through how BIPs work:

is a standardized way to pitch any change to how the Bitcoin blockchain works.

That said, it’s highly recommended to throw an idea into community forums and email lists to discuss whether the proposal has enough backing among those who participate in the Bitcoin network.First, the idea needs a BIP champion who will be the author of the proposal. Champions convert the idea into detailed technical documentation according to the BIP standards.

Implementation consists of two steps. First, the upgrade has to be merged into the blockchain's software code , then it has to be activated. The Taproot upgrade, for example, was merged in October 2020 and activated in November 2021.

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