What is ColliderScript?
ColliderScript introduces a method for implementing covenants on Bitcoin, which could enhance Bitcoin’s functionality. Covenants aim to allow for more complex transaction conditions, governing how and when Bitcoin can be spent. It does this by using 160-bit hash collisions, allowing transactions to enforce conditions on future spending without requiring a soft fork. Unlike other proposals, ColliderScript leverages existing opcodes, sidestepping the need for consensus-driven protocol changes, which makes it flexible but computationally expensive. While this technique provides a proof of concept for covenants on Bitcoin, its high resource demands currently limit practicality. However, with further optimisation, ColliderScript could advance Bitcoin’s programmability and encourage broader discussions around covenant adoption in Bitcoin’s scripting environment.
