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BIP (Bitcoin Improvement Proposal)

What does BIP (Bitcoin Improvement Proposal) mean in crypto terms?

A BIP, or Bitcoin Improvement Proposal, is a formal proposal that members of the Bitcoin community use to suggest various enhancements or improvements to the Bitcoin protocol. The BIP process was designed to ensure that all changes undergo a structured and transparent review before implementation. A BIP can cover any changes ranging from introducing new features, to making adjustments, or providing new standards. Each BIP has a unique number, and the community discusses and reviews it thoroughly before it is either accepted or rejected. This method of proposing changes ensures the democratic and collaborative nature of Bitcoin development.

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