Bitcoin covenant proposals
Nine proposals to let Bitcoin script control where coins go next, compared.
Nine proposals, one theme: letting Bitcoin script control where coins can go next, not just who can spend them. Here they are side by side, with when each was numbered.
| BIP | Proposal | What it does | Status | Assigned |
|---|---|---|---|---|
| BIP 119 | OP_CHECKTEMPLATEVERIFY (CTV) | Commits an output to the exact transaction that may spend it: vaults, congestion control, simple payment pools. | Draft | 2020-01-06 |
| BIP 347 | OP_CAT in Tapscript | Concatenates two stack items, re-enabling Satoshi's original opcode inside Tapscript. | Complete | 2023-12-11 |
| BIP 348 | OP_CHECKSIGFROMSTACK (CSFS) | Checks a signature against data on the stack, not only against the spending transaction. | Draft | 2024-11-26 |
| BIP 443 | OP_CHECKCONTRACTVERIFY (CCV) | Lets outputs carry committed data and constrain the next outputs: state machines and vaults. | Draft | 2025-05-08 |
| BIP 446 | OP_TEMPLATEHASH | Pushes a hash of the spending transaction, a Taproot-native relative of CTV. | Draft | 2026-02-06 |
| BIP 448 | Taproot-native (Re)bindable Transactions | Bundles OP_TEMPLATEHASH, CSFS and OP_INTERNALKEY to improve second-layer protocols such as Lightning. | Draft | 2026-03-11 |
| BIP 449 | OP_TWEAKADD | Adds a tweak to an x-only key inside script, mirroring the Taproot tweak signers already use. | Draft | 2026-03-05 |
| BIP 440 | Varops budget | Generalises the sigops budget to every operation, so script limits follow actual computation. | Draft | 2026-03-25 |
| BIP 441 | Restoration of disabled script (Tapleaf 0xC2) | Re-enables Bitcoin's original opcodes under the varops budget, with far larger stack limits. | Draft | 2026-03-25 |
How they fit together
- Template commitments
- CTV (119) and OP_TEMPLATEHASH (446) commit to the next transaction. BIP 448 packages TEMPLATEHASH with CSFS and INTERNALKEY.
- General building blocks
- OP_CAT (347), CSFS (348) and OP_TWEAKADD (449) are small opcodes that combine into covenants and more.
- Full script programs
- CCV (443) adds committed state. BIPs 440 and 441 (the Great Script Restoration) bring back the original opcodes under a computation budget.
For how these would reach the chain, see how miners activate soft forks.
Questions
- What is a covenant in Bitcoin?
- A rule that limits how a coin can be spent next, for example only to a pre-agreed transaction. Today's Bitcoin script can check who signs, but not where the money goes.
- Which covenant proposal is closest to activation?
- None is scheduled. All are drafts except BIP 347 (OP_CAT), which the repository lists as Complete. Activation would need a soft fork that nodes and miners adopt.
- Why do people want covenants?
- Vaults that stop thieves from emptying a wallet, cheaper shared UTXOs, and simpler Lightning channels. Critics worry about complexity and unforeseen uses.
- What do covenants mean for miners?
- Like any soft fork they need miner signalling. Some designs (CTV-based congestion control) also change how fee demand reaches blocks.
Sources
Meet the people who mine and build Bitcoin
Soft forks only happen when miners, node operators and developers line up. Mining Disrupt 2027 puts them in one room, March 22–24 at the Irving Convention Center, Dallas. Get a pass or exhibit.
More: All BIPs · BIPs for miners · BIP 54 · BIP 323 · Quantum BIPs · Taproot · BIP 110
Three days. One floor. The whole industry.
March 22–24, 2027 · Irving Convention Center · Dallas
Mining Disrupt is NOT affiliated with any other brands, groups, events, meetups, individuals, sponsors, exhibitors, agents, or referrals, except the Industry Ambassadors listed on this site. We do not sell any lists. Beware of scams claiming otherwise.
There are imitators and scammers using our name to solicit sponsors and attendees. Always verify directly through our official Telegram group. Stay vigilant!
Mining Disrupt Policy: No refunds. No outside food or drinks. No third-party event solicitations.
Unauthorized solicitation, sales, advertising, product demonstrations, or distribution of promotional materials, including magazines, brochures, flyers, catalogs, business literature, and promotional giveaways, is strictly prohibited anywhere within the event venue unless expressly authorized by Mining Disrupt.
Marketing activities are reserved exclusively for approved exhibitors, sponsors, and authorized event partners. Attendees found engaging in unauthorized promotional activities may be required to cease immediately, surrender promotional materials, and may have their event credentials revoked without refund at the sole discretion of event management.