Bitcoin Improvement Proposal (BIP)
By CoinGecko | Updated on Mar 03, 2020
Initially proposed and described by Amir Takir in 2011, Bitcoin Improvement Proposal (BIP) now refers to any proposal submitted by developers to be used to improve Bitcoin either through new features, parameter changes or bug fixes.
Related Terms
Block Reward
One of the mechanisms built into a blockchain to incentivize validators
Explain Like I'm Five (ELI5)
To explain in such simple terms that even a five-year-old would be able to understand it.
Block Explorer
Application or websites which display information such as status of transactions or data contained in a block of a given public blockchain network.
Sharding
A form of database partitioning which breaks up data into smaller segments.
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