‘OP_CAT is Not a Creation of Mine; It's Satoshi’s,’ Bruce Liu Asserts While Advocating for Bitcoin's Code Revival
Bruce Liu, founder of OP_CAT Labs, argues for the reactivation of an opcode in Bitcoin that could enhance its programmability, making it competitive with blockchain platforms like Ethereum and Solana.
What You Need to Know:
- Bruce Liu is advocating for the re-enablement of the OP_CAT opcode in Bitcoin to convert it into programmable money, thereby making it competitive with Ethereum and Solana.
- The disabled OP_CAT opcode has the potential to unlock new functions for Bitcoin, such as decentralized exchanges and zero-knowledge proofs.
- Despite its promise, OP_CAT encounters resistance due to concerns about security and the stability of Bitcoin.
Liu’s Perspective
Without OP_CAT, Bruce Liu suggests, Bitcoin operates as “worthless as a jumbo jet without wings,” capable of significantly more but grounded while Ethereum and Solana thrive. Liu, the head of OPCAT_Labs, contends that a single opcode could shift Bitcoin from being merely digital gold to a programmable currency that stands up to various Layer-1 competitors.
Liu explained, “OP_CAT is not new code. It was simply commented out and has not been removed. This is Satoshi’s code.” He expressed the potential of OP_CAT facilitating scripts that could create various applications, such as vaults and basic DeFi protocols.
Challenges Ahead
The campaign for reactivating OP_CAT has sparked debates. Satoshi had previously disabled it in 2010, citing security concerns that it could lead to denial-of-service attacks. Critics warn that reintroducing any opcode could pose risks, citing fears of introducing “unknown unknowns” that might compromise Bitcoin’s hard-earned stability.
Liu’s counterargument highlights Satoshi’s vision in including Script from the beginning. He poses, “If Bitcoin is solely for payments, why was Script created?” He believes OP_CAT could animate Script, allowing Bitcoin to support functionality beyond simple transactions.
To fortify this agenda, Liu, along with Mate Tokay, is striving to establish an alliance of OP_CAT supporters that includes various groups, even as the existing voices stressing caution continue to dominate the narrative. Their aim is to make insightful stakeholders aware of what OP_CAT can achieve.
By the next Bitcoin Asia conference, Liu hopes to showcase functional DeFi applications on Bitcoin and exhibit the organized effort to rejuvenate this essential feature.
