What Are Bitcoin Improvement Proposals (BIPs)?
A BIP is a formal proposal to introduce changes or enhancements to the Bitcoin protocol. As the standard method for suggesting improvements, BIPs can range from consensus rules to development processes within Bitcoin's infrastructure. As Bitcoin operates on an open-source, decentralized model without a central leadership, BIPs ensure structured and coordinated development within its community. Anyone can submit a BIP, but it typically undergoes thorough review and discussion before potential implementation. This process preserves Bitcoin's integrity and ensures changes align with the community's vision.