What is a Bitcoin Improvement Proposal (BIP)?

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A BIP (Bitcoin Improvement Proposal) is the doc normal used for proposing modifications to Bitcoin. 

Proposals are normally first roughly outlined utilizing a mailing checklist of builders, the place suggestions and their feasibility are assessed earlier than a resolution is made to create a full BIP doc, which is then shared on GitHub. At this level the proposal is peer-reviewed by builders who agree on which of them to go ahead with and implement when consensus is discovered.

There are three forms of BIPs:

  1. A Standards Track BIP, used for modifications that may alter the best way Bitcoin works, reminiscent of how blocks or transactions are processed (reminiscent of SegWit) or for a way Bitcoin integrates with third events.
  2. An Informational BIP, because the title suggests, is used for offering data to builders about potential points and options to Bitcoin. These BIPs should not voted on and may be ignored by the neighborhood.
  3. A Process BIP, just like Standards Track BIPs, these proposals are used for outlining modifications to how Bitcoin developments and processes are carried out, reminiscent of BIPs themselves or how they’re voted upon.

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