Second Version of Bitcoin Virtual Machine BitVM2 and Updated BitVM Bridge Released

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Introduction of BitVM2
  2. Updated Features of BitVM2
  3. Improvements to BitVM Bridge


    4. Bitcoin developers introduced a new version of the Bitcoin Virtual Machine, BitVM2, and an updated BitVM Bridge. The new version aims to enhance transaction efficiency within the Bitcoin network.

    Introduction of BitVM2

    This week, the second version of the Bitcoin Virtual Machine, known as BitVM2, was released. According to the developers, this version aims to increase Bitcoin's transaction capacity without altering its core code and principles of decentralization.

    BitVM2 employs optimistic computation to scale Bitcoin using sidechains.Alexei Zamyatin

    Updated Features of BitVM2

    The new version of BitVM introduces a permissionless system that allows any user to challenge suspicious transactions. This is a departure from the previous version, which limited challenge rights to designated parties.

    Improvements to BitVM Bridge

    The document highlights significant updates to the BitVM Bridge. Key enhancements include reduced capital requirements and shorter asset lock-up periods, facilitating the transfer of bitcoins to and from rollups – secondary networks that enable faster and less costly transactions on the Bitcoin network.

    The presented updates to BitVM2 and BitVM Bridge are aimed at improving the efficiency and speed of transactions on the Bitcoin network, without compromising the core principles of decentralization. This marks an important step in enhancing the Bitcoin infrastructure and supporting its further growth and scalability.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

SBI Holdings and Startale Collaborate with BlackRock on Tokenised Funds

SBI Holdings and Startale have signed a memorandum of understanding with BlackRock to explore the connection between tokenised money market funds and a yen-denominated stablecoin.

user avatarTando Nkube

Kraken Parent Payward Secures Approval for Kazakhstan Operations

Payward has received in-principle approval from the Astana Financial Services Authority for its proposed operations in Kazakhstan.

user avatarKofi Adjeman

Central Bank of Ireland Imposes Fine on Coinbase Ireland Limited

On October 22, 2023, the Central Bank of Ireland fined Coinbase Ireland Limited 3,252,618 euros for breaches of safeguarding and outsourcing obligations.

user avatarNguyen Van Long

HashKey RWA Introduces First Product in hToken Series

HashKey RWA has launched its first product in the hToken series, aimed at standardizing the issuance of tokenized securities for traditional financial institutions.

user avatarSatoshi Nakamura

Coinbase Announces Discontinuation of GYEN Stablecoin Support

Coinbase has announced the discontinuation of support for the yen-linked GYEN stablecoin as its issuer, GMOZcom Trust Company, retires the product.

user avatarJesper Sørensen

Hong Kong Approves Secondary Trading for Tokenized Money Market Funds

Hong Kong Securities and Futures Commission approves secondary trading for two tokenized money market funds, enhancing trading opportunities and liquidity.

user avatarRajesh Kumar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.