BTC $62,987.92 -0.04%
ETH $1,878.34 -0.05%
BNB $604.73 -1.07%
XRP $1.00 -0.33%
SOL $75.33 +0.04%
TRX $0.3310 -0.45%
DOGE $0.0697 -0.52%
ADA $0.1767 -1.45%
BCH $203.43 -1.13%
LINK $9.35 -0.48%
HYPE $57.11 +1.67%
AAVE $85.87 -1.20%
SUI $0.6750 -1.28%
XLM $0.1567 -1.12%
ZEC $486.39 -0.91%
BTC $62,987.92 -0.04%
ETH $1,878.34 -0.05%
BNB $604.73 -1.07%
XRP $1.00 -0.33%
SOL $75.33 +0.04%
TRX $0.3310 -0.45%
DOGE $0.0697 -0.52%
ADA $0.1767 -1.45%
BCH $203.43 -1.13%
LINK $9.35 -0.48%
HYPE $57.11 +1.67%
AAVE $85.87 -1.20%
SUI $0.6750 -1.28%
XLM $0.1567 -1.12%
ZEC $486.39 -0.91%

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.