At Devcon 2024 in Thailand, StarkWare CEO Eli Ben-Sasson shared his optimism for the implementation of OP_CAT on the Bitcoin network within the next year, a development expected to revolutionize Bitcoin’s utility in the world of decentralized finance (DeFi). Speaking to a global audience of developers and blockchain experts, Ben-Sasson explained how OP_CAT could enable Bitcoin to support complex functions, such as covenants, ZK-rollups, and layer-2 networks. This advancement would pave the way for Starknet to become the first layer-2 network to settle natively on both Bitcoin and Ethereum.
OP_CAT, short for "operation code concatenate," would allow Bitcoin to handle more sophisticated operations by enabling the concatenation of character strings. Ben-Sasson likened this upgrade to adding a new function to an old scientific calculator, which could now inspect files and run programs. Originally implemented by Bitcoin's creator, Satoshi Nakamoto, OP_CAT was removed in 2010 due to security concerns. But today, cryptographer Ethan Heilman and Botanix Labs engineer Armin Sabouri advocate reintroducing it through a soft fork, arguing that it could enhance Bitcoin's foundational capabilities.
For Ben-Sasson, the potential of OP_CAT lies in its ability to bring Bitcoin closer to its original purpose as a payment network. Currently, high transaction fees make everyday purchases like a cup of coffee impractical. OP_CAT could significantly reduce these costs, making Bitcoin a more feasible option for daily transactions. During the Bitcoin Next conference on November 13 in Bangkok, he emphasized that layer-2 solutions could expand Bitcoin’s relevance in DeFi, even potentially allowing Bitcoin to surpass Ethereum in transaction volume and decentralized finance activity.
While Bitcoin sidechains have emerged as pseudo-layer-2 solutions, they settle outside the main Bitcoin network, relying instead on proof-of-transfer and bridging systems, such as those used by Stacks. However, Lachlan Feeney, founder of Web3 development firm Labrys, raised concerns about sidechains, noting their lack of security and innovation. OP_CAT, with its promise of native settlement and added functionality, could finally deliver the security and utility Bitcoin enthusiasts seek, positioning Bitcoin for a pivotal role in the evolving DeFi landscape.
