The Bitcoin Improvement Proposal BIP-119 is expected to be finalized by the end of the year

ChainCatcher news, according to Cointelegraph, the long-dormant Bitcoin Improvement Proposal OP_CHECKTEMPLATEVERIFY (referred to as CTV or BIP-119) is currently gaining attention, supported by well-known Bitcoin developers and companies. If ultimately approved, it will enhance Bitcoin's scalability, security, and usability, particularly by introducing features like "covenants" and "vaults."

These features are expected to improve the user self-custody experience and give rise to safer and smarter second-layer applications, such as the Lightning Network and Ark.