BitVM: The Arrival of Advanced Smart Contracts in the Bitcoin World. Game Over for Ethereum?
High Overview of a system that promises much for the future.
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In the cryptocurrency world, you have the Bitcoiners who understand that Bitcoin is the next Bitcoin.
This means that anything developed elsewhere that might be relevant to the greatest number of people will end up being implemented on top of the Bitcoin Blockchain.
You have a second category of people who try to make you believe that their Altcoin project is not better than Bitcoin, but complementary.
This is the case of Ethereum fans who try to tell you that Ethereum is necessary to have smart contracts that Bitcoin isn't able to manage on its Blockchain.
That's not what the Bitcoin blockchain is about anyway.
Those absolute Ethereum fans who still dream of a big flippening in the future must have taken a blow at the beginning of October 2023 with the publication of a very interesting whitepaper entitled soberly: “BitVM: Compute Anything on Bitcoin”.
As always, Don't Trust, Verify.
I invite you to read this whitepaper for yourself and make up your mind:
Don't worry, just as the Bitcoin whitepaper is relatively short, so is this whitepaper. Feel free to make the effort to read it all the way through.
This whitepaper was proposed by Robin Linus, a Bitcoiner at the head of the ZeroSync project. BitVM achieves the feat of making Turing-complete contracts usable on the Bitcoin Blockchain without altering the consensus rules of the Bitcoin protocol.
Below is a quick overview.
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