This pull request introduces a new Bitcoin Improvement Proposal (BIP):
Programmable Bitcoin Token Standard (PBTS)
PBTS provides a Layer 1 token standard leveraging Bitcoin Script and Taproot to enable the creation, transfer, and verification of native programmable tokens directly on Bitcoin. It introduces structured programmability without requiring changes to Bitcoin’s consensus rules.
Key Highlights:
- Layer 1 Implementation: Tokens are fully validated and transferred on Bitcoin’s base layer without external dependencies.
- Taproot Optimized: Minimal impact on scalability, with optimized transaction size and fees.
- Structured Programmability: Enables predefined execution paths, such as vesting contracts, milestone-based escrows, and oracle integration.
Full details are available in the proposed BIP markdown file:
Feedback, suggestions, and discussion are welcome.