Co-founder of Taproot Wizards, Udi Wertheimer, has proposed the launch of CATNIP tokens based on the OP_CAT protocol. The CAT protocol is used to create tokens using Bitcoin's UTXO and is validated by miners. It allows for the creation of both fungible and non-fungible tokens and enables trustless connections between different blockchains. However, the CAT protocol is dependent on reactivating the OP_CAT opcode in the Bitcoin network. Fractal, a project based on the Bitcoin blockchain, has already implemented the OP_CAT function. The Bitcoin community will need to decide whether to re-add OP_CAT through a soft fork in order for the CAT protocol to be used on the Bitcoin mainnet. If implemented, the CAT protocol could simplify token creation and usage on the Bitcoin network, potentially leading to the development of native DeFi on Bitcoin.



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