OP_CAT will be launched on the Bitcoin Signet testnet next Tuesday

ChainCatcher news, OP_CAT (i.e., BIP-420) is scheduled to go live on the Bitcoin Signet testnet at block height 193,536 (expected next Tuesday).

It is reported that Signet is a Bitcoin test network designed for developers to test software, with no miners and no proof of work, creating a block approximately every 10 minutes.

ChainCatcher previously reported that, according to The Block, the Bitcoin Improvement Proposal BIP-420 has officially proposed to restore the OPCAT opcode to introduce the "covenants" feature on Bitcoin. OPCAT advocate and Taproot Wizards co-founder Udi Wertheimer stated that OP_CAT will enable functionalities such as smart contracts, secure cross-chain bridges, on-chain transactions, and zero-knowledge proof verification on Bitcoin.