BTC $62,611.56 -1.52%
ETH $1,867.03 -1.11%
BNB $603.55 -0.95%
XRP $1.00 -0.55%
SOL $75.31 -0.90%
TRX $0.3323 -0.51%
DOGE $0.0693 -0.90%
ADA $0.1787 -2.26%
BCH $202.79 -5.20%
LINK $8.77 +0.19%
HYPE $56.05 -2.62%
AAVE $85.75 -2.82%
SUI $0.6757 -1.96%
XLM $0.1595 -0.33%
ZEC $484.16 -1.14%
BTC $62,611.56 -1.52%
ETH $1,867.03 -1.11%
BNB $603.55 -0.95%
XRP $1.00 -0.55%
SOL $75.31 -0.90%
TRX $0.3323 -0.51%
DOGE $0.0693 -0.90%
ADA $0.1787 -2.26%
BCH $202.79 -5.20%
LINK $8.77 +0.19%
HYPE $56.05 -2.62%
AAVE $85.75 -2.82%
SUI $0.6757 -1.96%
XLM $0.1595 -0.33%
ZEC $484.16 -1.14%

Bitcoin developers release the BitVM2 white paper to advance the goal of Bitcoin programmability

2024-08-18 09:55:19

ChainCatcher news, according to CoinDesk, Bitcoin developer Robin Linus proposed a theoretical method last year aimed at making the Bitcoin blockchain more programmable. Today, he has launched a second iteration called "BitVM2," which reportedly has significant improvements that bring this concept closer to real-world deployment. The project will rely on advanced cryptography and innovative design to establish a secure "bridge" that transfers Bitcoin from the main network to a secondary network known as "rollup."

According to a white paper released this week by Linus and five co-authors, the basic setup involves using cryptography to compress programs into subprograms, which are then executed in Bitcoin transactions. Subsequently, these programs are "verified" in three on-chain transactions, essentially ensuring that no one is attempting to cheat or steal. According to one of the co-authors, Alexei Zamyatin, previous versions required up to 70 transactions for verification. It is reported that Alexei Zamyatin is working separately on the Bitcoin L2 network Build on Bitcoin (BOB).

A key improvement in the new version is that anyone can challenge suspicious transactions, a feature known as "permissionless challenges." The original BitVM was released last October but was never truly deployed in practice, with only a fixed group of operators able to initiate challenges.

"This design brings us these significant improvements," Zamyatin said in a video interview, "We now have a complete and comprehensive description of the BitVM paradigm."

app_icon
ChainCatcher Building the Web3 world with innovations.