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BitVM is a framework for expressive Bitcoin contracts and computations
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It creates a trust-minimized system and not a trustless system, unlike Bitcoin
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BitVM leverages a proof system and is inspired by the Optimistic rollups
BitVM is the short form of a Bitcoin virtual machine. Bitcoin’s native smart contract capabilities are limited to basic operations like signatures, timelocks, and hash locks. However, BitVM introduces a novel framework for more expressive Bitcoin contracts and off-chain computation.
The application of the protocol includes games like Chess, Go, and Poker, verifying validity proofs in Bitcoin contracts, bridging BTC to foreign chains, building prediction markets, and emulating novel opcodes.
A notable limitation is that BitVM operates only in a two-party setting, requiring significant off-chain computation and communication.
The protocol architecture is inspired by Optimistic Rollups and the MATT p
We współpracy z: https://www.thecoinrepublic.com/2024/06/21/bitvm-to-become-the-first-layer-2-on-bitcoin/
