Bitcoin Magazine
Covenants, CTV, and Enhancing Developer Experiences
Builder: Stu
Programming Language(s): Rust
Contributions To: CTV Prototypes, Char Network
Formerly Employed At: ZBD
Prior to his participation in the Bitcoin area, Stu’s expert background included working as a Windows System Administrator and in IT support. His day-to-day obligations mainly consisted of tiresome upkeep jobs, such as system reconfiguration and password resets for users. Unfortunately, these activities typically caused extended durations of lack of exercise, throughout which real analytical chances were limited.
This absence of engagement typically led to Stu inhabiting his time by searching Reddit throughout his downtime. However, this eventually shown to be fortuitous, as it facilitated his entryway into the world of Bitcoin around 2017.
During that time, like numerous brand-new entrants to the Bitscoins.netmunity, Stu ended up being mesmerized by the Initial Coin Offering (ICO) and altcoin patterns. He consequently dealt with monetary problems as an outcome of financial investments in less credible jobs, a typical experience to name a few in the area.
As an outcome of this immersion in Bitcoin, he started to explore its intricacies more carefully, leading him to leave his task in the middle of the peak of the 2021 booming market looking for chances within the Bitcoin environment. Recognizing the increasing appeal of the Rust programs language within Bitcoin jobs and libraries, he committed time to mastering it in order to contribute successfully.
By completion of 2022, his pursuit culminated in a position at ZBD, a business focusing on incorporating bitcoin payments into computer game through the Lightning Network.
Experience at ZBD
In his capability as a DevOps engineer at ZBD, Stu dedicated his spare time to establishing model jobs in Rust.
“My side projects often align with my interests, and while working at ZBD, I began creating games that incorporate bitcoin,” he mentioned in an interview with Bitcoin Magazine.
His efforts consisted of the development of a multiplayer web video game, rain.run, where gamers gather lightning bolts as benefits in satoshis. This job enabled him to get experience in developing applications that assist in interaction over networks. Subsequently, he also established a basic connect4 video game using the Nostr procedure.
“This was an effective method for understanding the Nostr protocol,” he observed.
Attending btc++ in Austin in 2024, which concentrated on improvements in Bitcoin scripting and covenants, even more sustained his interest. “It appeared that a consensus was forming regarding covenants within the Bitscoins.netmunity,” he remembered.
“This piqued my curiosity about Bitcoin script, prompting experimentation with Taproot and various Bitcoin scripts…” he described, although he kept in mind that the outcomes were restricted yet instructional.
TABConf, Payment Pools, and CTV
In 2024, Stu participated in TABConf in Atlanta, Georgia, another developer-centric conference that considerably went over covenants. A trademark of TABConf was its hackathon, throughout which Stu carried out a task including Discreet Log Contracts (DLCs) that enabled users to bank on chess matches. He rapidly acknowledged the intricacy that occurs when establishing software application for pre-signing big amounts of deals.
In resolving this difficulty, he mentioned, “The solution appeared to be CHECKTEMPLATEVERIFY (CTV). My desire to learn more about covenants drew me to CTV, which I began to integrate into my DLC chess project. The simplicity it introduced was astounding.”
Stu even more established a proof-of-concept model for a Payment Pool using CTV. Payment swimming pools represent a primary layer 2 service, allowing collective control over a single unspent bitcoin output amongst numerous users.
“To scale Bitcoin for broader usage without relying on centralized intermediaries, users can effectively share UTXOs. Payment pools are particularly well-suited for this, especially when integrated with other layer 2 solutions such as Lightning or Ark,” he mentioned when discussing his reasoning for pursuing this job.
Covenants
The subject of covenants continues to create substantial dispute relating to the future instructions of Bitcoin. Each designer brings their viewpoints to the conversation, and Stu lines up with this belief.
“Utilizing covenants to replace pre-signed transactions is, in my opinion, a substantial enhancement for developers, streamlining development while improving safety. This approach alleviates user friction and interactivity, thereby enhancing the overall experience,” he articulated.
When questioned about his inspiration for concentrating on CTV, Stu clarified, “CTV’s straightforward implementation in applications appealed to me. After successfully integrating it into the payment pool, I intended to replicate this functionality across all covenant proposals. Although I achieved similar results with CAT, the process was considerably more time-consuming and required extensive code. The Bitcoin script was around 50 lines, whereas CTV only required about 3 lines.”
“I believe there is a consensus among protocol developers regarding CTV’s lack of risk to Bitcoin…” he continued. “The prevailing argument now seems to pivot on user acceptance. However, users are already utilizing applications like Lightning and multisig vaults, which would significantly benefit from CTV. Thus, this should be prioritized for the next soft fork.”
Concerning the continuous controversial environment surrounding covenants and the upcoming soft fork, he recommended, “There may be merit in having more in-person events to foster discussion. The impediment appears less technical and more political.”
“The reticence concerning any changes to Bitcoin is understandable given its fundamental properties. However, this caution does not necessarily apply to soft forks. This mindset can create considerable stress for developers, particularly Bitcoin Core maintainers, as they often find themselves under scrutiny for their stances on upcoming forks. This dynamic discourages participation and ultimately stymies consensus on potential modifications,” he included.
Looking Ahead
Recently, Stu took part in the Bitcoin Open Source Software (EMPLOYER) program by Chaincode Labs, developed to gear up brand-new designers with useful experience in the Bitcoin environment.
Moving forward, Stu will add to the Char Network, an effort led by Jeremy Rubin focused on establishing a brand-new bitcoin staking platform developed to improve Bitcoin performance. Alongside his contributions to open source jobs, he means to pursue individual side jobs with the supreme objective of adding to Bitcoin Core.
Stu articulately summed up the top priorities for the Bitscoins.netmunity as they progress: “Enhancing self-custody should be our primary focus. The current process is inadequate, and it is crucial for the Bitscoins.netmunity to acknowledge this. The task of backing up 12 words may seem simple, but it is far from easy, and the current system leaves much to be desired.”
This post, entitled “Covenants, CTV, and Enhancing Developer Experiences,” was initially released in Bitcoin Magazine and was authored by Shinobi.
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