"It requires no consensus changes to Bitcoin at all. The trick is lifting all of that logic off-chain and being able to challenge a few steps of the computation on-chain if the other party asserts a dishonest outcome. In short, BitVM will bring arbitrary Turing-complete computation, in an enforceable way, to bitcoin itself – today."
What if you could enforce the ownership of Bitcoin, with literally any code you could think of writing? That may just be possible, today, without any changes or soft forks to the underlying network, through a system of abstraction that cleverly, and verifiably, allows execution of completely arbitrary code within the Bitcoin script, which will determine the ultimate owner of any bitcoin balance. This, could be massive. A great piece from Shinobi explains, how and why it works...
Check out the original article at: Bitcoin Magazine
Links:
Spiderchains: A proof of stake second layer for Bitcoin
Read_734 - Introducing Ark [Burak]
A huge thanks to our sponsors, and don't forget to check out the offers for the listeners of this show!
- 9% off the Coldcard with code BITCOINAUDIBLE, bitcoinaudible.com/coldcard
- Check out the KYC Free, simple, no management, Bitcoin merchant solution, Nodeless.io/guy. Use my link to go to bitcoinaudible.com/nodeless and setup your donation page for free, then share it out on Nostr or Twitter and tag me, and I'll throw 10,000 sats your way!
- Get 50,000 free sats, plus sats back on everything you buy by signing up with Fold and the Spin+ Debit Card. bitcoinaudible.com/fold
-----------------------------------------------------------------
“Nobody ever figures out what life is all about, and it doesn’t matter. Explore the world. Nearly everything is really interesting if you go into it deeply enough.”
– Richard P. Feynman
Activity