A Bitcoin Improvement Proposal (BIP) is a technical document that proposes adding new features or improvements to the Bitcoin network through detailed technical specifications.
The BIP contains the rationale, how to implement it, and the impact of each proposed change on Bitcoin. The BIP proposal was submitted by the Bitcoin community through a review process by core developers. If approved, it will be implemented through changes to Bitcoin client software such as Bitcoin Core. BIP’s goal is to standardize and improve the technical aspects of the Bitcoin ecosystem.
Examples of “beep” in use in sentences
“BIP-21, which standardizes Bitcoin URIs, was implemented in 2019 to make it easier to transfer bitcoins through the browser.”
“The developer submitted a new BIP regarding Lightning Network integration to improve network scalability.”
“Implementation of the proposals in the BIP requires the consensus of the majority of miners for them to be implemented via a soft fork or hard fork.”
Source:
https://river.com/learn/what-is-a-bitcoin-improvement-proposal-bip/
https://www.coingecko.com/en/glossary/bitcoin-improvement-proposal-bip
