Developers working on Bitcoin sidechains have unveiled an updated BitVM Bridge as well as a new whitepaper for BitVM2, the second version of the Bitcoin Virtual Machine.
Key Improvements in BitVM2
The announcement, made via X by co-author Alexei Zamyatin and BOB co-founder, outlines significant improvements in scaling capabilities for the Bitcoin network.
Optimistic Computing and New Capabilities
Key features of BitVM2 include the use of optimistic computing to scale Bitcoin transactions. The system assumes that network operators are acting honestly until challenged by evidence of fraud, allowing for a more streamlined process.
BitVM Bridge Updates
The updated BitVM Bridge also brings significant improvements, including reduced capital requirements and shorter asset lock-up periods. These changes facilitate more efficient transfers of Bitcoins to Rollups, which are secondary networks designed to speed up and reduce the cost of transactions on the Bitcoin network.
The launch of BitVM2 signals an ongoing effort to increase Bitcoin's scalability and transaction efficiency and is positioned as a significant development in the evolution of Bitcoin's sidechain technology.
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