Last night, a white paper titled "BitVM: Compute Anything on Bitcoin" caused a heated discussion. BitVM is a new computing paradigm that allows Turing-complete Bitcoin contracts to be expressed without changing the consensus rules of the Bitcoin network. It can execute any computable function and perform offline calculations without leaving any trace on the chain. trace. The white paper reached 110,000 views in just one hour after it was released. As of writing, the number of views has reached 1.82 million, and the discussion in the English community is extremely heated.
BitVM has received mixed reviews from Bitcoin developers. BioniqMarket CEO @BobBodily believes that BitVM is not a one-size-fits-all solution, it is slower, more expensive and complex, but its core advantage is that we can get additional programmability on Bitcoin now without the need to upgrade. Related researcher Sam Parker sees the potential BitVM offers to enable more programming capabilities without modifying the Bitcoin protocol, and how this capability can help decentralize and eliminate the need for trusted third parties. At the same time, he also mentioned that this is an optional feature, and the Bitcoin community and users can choose whether and how to use this feature.
Eric Wall, founder of Simp DAO and senior crypto researcher, remains cautiously excited about BitVM, waiting to see what real-world experiments will bring. He thought it would be interesting if BitVM worked well in it to verify zk proofs - BitVM would act as the zkwasm layer he discussed previously.
BitVM brings new possibilities to the Bitcoin network, allowing Bitcoin to embrace a wider range of use cases and innovative possibilities without directly modifying its core protocol. This also raises a key question: Are we ready to expand Bitcoin from a digital currency mainly used to store value and transactions to a global platform that can perform broader and more complex calculations? Everyone is welcome to share your opinions in the comment area!
BitVM has received mixed reviews from Bitcoin developers. BioniqMarket CEO @BobBodily believes that BitVM is not a one-size-fits-all solution, it is slower, more expensive and complex, but its core advantage is that we can get additional programmability on Bitcoin now without the need to upgrade. Related researcher Sam Parker sees the potential BitVM offers to enable more programming capabilities without modifying the Bitcoin protocol, and how this capability can help decentralize and eliminate the need for trusted third parties. At the same time, he also mentioned that this is an optional feature, and the Bitcoin community and users can choose whether and how to use this feature.
Eric Wall, founder of Simp DAO and senior crypto researcher, remains cautiously excited about BitVM, waiting to see what real-world experiments will bring. He thought it would be interesting if BitVM worked well in it to verify zk proofs - BitVM would act as the zkwasm layer he discussed previously.
BitVM brings new possibilities to the Bitcoin network, allowing Bitcoin to embrace a wider range of use cases and innovative possibilities without directly modifying its core protocol. This also raises a key question: Are we ready to expand Bitcoin from a digital currency mainly used to store value and transactions to a global platform that can perform broader and more complex calculations? Everyone is welcome to share your opinions in the comment area!