According to Cointelegraph, StarkWare CEO Eli Ben Sasson anticipates the OP_CAT upgrade to the Bitcoin network will be implemented within the next year. Speaking at Devcon 2024 in Thailand, Ben-Sasson highlighted that OP_CAT will introduce new functionalities to Bitcoin, such as covenants, ZK-rollups, and layer 2 networks. This upgrade will enable Starknet to become the first layer-2 network to settle natively on both Bitcoin and Ethereum.
While OP_CAT is a complex update with numerous potential enhancements, Ben-Sasson explained that its underlying concept is straightforward. He likened Bitcoin to an old scientific calculator, emphasizing that OP_CAT adds a new function, allowing the concatenation of strings of characters. This addition will enable Bitcoin to perform more complex operations, such as inspecting files and running programs.
OP_CAT, short for "operation code concatenate," was initially implemented by Bitcoin's creator, Satoshi Nakamoto. However, concerns about potential security risks led to its removal in 2010. Recently, cryptographer Ethan Heilman and Botanix Labs engineer Armin Sabouri proposed reactivating OP_CAT through a soft fork, aiming to enhance Bitcoin's capabilities.
Ben-Sasson stated that the goal of OP_CAT and StarkWare's involvement in the Bitcoin layer-2 space is to help Bitcoin fulfill its original mission as a payment network. He noted that current transaction fees make it impractical for everyday purchases, such as buying a cup of coffee. The introduction of OP_CAT could reduce these costs, making Bitcoin a more viable payment option.
At the Bitcoin Next conference in Bangkok on November 13, Ben-Sasson discussed building a Bitcoin layer-2 network. Experts believe that OP_CAT could enable Bitcoin to surpass Ethereum in decentralized finance activity and volume. Despite the rise of Bitcoin sidechains, which are often labeled as layer-2 solutions, they do not settle natively on the Bitcoin network. Instead, they rely on mechanisms like Stacks' proof-of-transfer model or bridging systems.
Lachlan Feeney, founder of Web3 development firm Labrys, expressed concerns about sidechains, noting that they lack the security and innovation required to convince Bitcoin enthusiasts to utilize their assets. The introduction of OP_CAT could address these issues, potentially transforming Bitcoin's role in the decentralized finance landscape.
