The Most Contended Bitcoin upgrade, BIP-119, could get a green light by the end of this year. This much-debated Bitcoin Improvement Proposal will enhance Layer 2 chains like the Lightning Network and Ark by adding functionalities similar to Ethereum smart contracts. Known as OP_CHECKTEMPLATEVERIFY (CTV), BIP-119 is backed by some of the biggest organizations in the Bitcoin ecosystem, promising to expand Bitcoin’s programmability and utility significantly. The proposal will make Bitcoin scalable by introducing a novel mechanism called ‘convenants’. This mechanism will introduce custom restrictions like adding logic like how Bitcoin will be spent. Users could set precise conditions on…