Tech

Revamping Bitcoin’s Programmability with BitVM2

Explore the innovative advancements in Bitcoin’s programmability with BitVM2. Discover how this groundbreaking technology enhances smart contracts, boosts efficiency, and transforms the future of decentralized applications.

Published

3 months ago

August 15, 2024

yönetici

Revamping Bitcoin’s Programmability: Introducing BitVM2

Revamping Bitcoin's Programmability: Introducing BitVM2

Robin Linus, a notable Bitcoin developer known for his innovative contributions to the crypto technology sphere, has unveiled a significant update to his original concept with the release of BitVM2. This new iteration comes packed with enhancements that could pave the way for practical applications of Bitcoin’s programmability, a feature that has long been sought after by developers and enthusiasts alike.

The core framework of BitVM2 revolves around utilizing cryptographic techniques to condense complex programs into manageable sub-programs. These sub-programs can subsequently be executed within Bitcoin transactions. The details are elaborated in a white paper published recently by Linus, along with five esteemed co-authors. Notably, the verification process, which ensures the integrity of transactions and prevents malicious activities, now requires only three on-chain transactions. In contrast, the previous version of BitVM necessitated a cumbersome 70 transactions for verification, making it less feasible for real-world applications.

One of the standout features of BitVM2 is its permissionless challenging capability, allowing any user to contest a suspicious transaction. This is a marked improvement over the original BitVM, where only a select group of operators had the authority to initiate such challenges. According to co-founder Alexei Zamyatin, who is also involved with the BOB project (Build on Bitcoin), the new design significantly enhances the system’s reliability and robustness. “We now have a full and comprehensive writeup of the BitVM paradigm,” Zamyatin emphasized during a video interview with CoinDesk.

Linus is recognized as a core contributor at the ZeroSync Association, a Swiss non-profit organization located in the canton of Zug. The collaborative effort on the white paper included co-authors Lukas Aumayr, Andrea Pelosi, Zeta Avarikioti, and Matteo Maffei.

What makes Linus’s initiative stand out is its ability to operate without necessitating any alterations to the fundamental Bitcoin code. This characteristic is particularly vital, given Bitcoin’s unique governance structure, which is markedly decentralized compared to other blockchain projects such as Ethereum or Solana, which often have centralized oversight or lead developers. Even seemingly minor proposals, like the widely debated OP_CAT, have encountered challenges in gaining consensus for adoption among Bitcoin code maintainers due to the prevailing norm of requiring nearly universal agreement on suggested updates.

The initial application of BitVM2 is aimed at establishing a rollup—an auxiliary network layered on top of Bitcoin that can facilitate faster and more cost-effective transactions while maintaining comparable security measures. The excitement generated by Linus’s original concept has already fueled interest in developing projects on the Bitcoin network; as of July, CoinDesk reported at least 83 Bitcoin layer-2 projects in development, featuring various configurations, including rollups and sidechains.

Moreover, the innovative paradigm introduced by BitVM2 could serve as a foundation for creating a secure blockchain bridge, enabling the seamless transfer of Bitcoin to the rollup and permitting safe withdrawals of deposits later on. Despite the criticisms aimed at Bitcoin’s proof-of-work consensus mechanism—primarily concerning its environmental implications—many blockchain experts still regard it as the most secure blockchain available. This security is underscored by Bitcoin’s market capitalization, currently valued at $1.2 trillion, surpassing the combined value of all other cryptocurrencies.

Linus shared insights with CoinDesk via Telegram, stating, “Our new bridge design is simpler and more capital efficient. The previous design caused liquidity issues, both in terms of how much and for how long bridge operators had to lock collateral. Now, it requires less capital, which is locked for a shorter duration.” This advancement marks a significant step toward enhancing Bitcoin’s functionality and usability in the ever-evolving landscape of cryptocurrency.

Up Next

California Introduces Landmark Legislation for AI Safety Regulation

Don't Miss

Apple Opens NFC Technology to Third-Party Developers

Click to comment

Tech

Tesla Semi Fire: NTSB Preliminary Report Released

The NTSB’s preliminary report on the Tesla Semi fire has been released. This content includes important information about the details of the incident, the causes of the fire, and Tesla’s safety measures. Explore the impact on Tesla’s electric vehicles and its future steps.

Published

2 months ago

September 17, 2024

yönetici

The National Transportation Safety Board (NTSB) released a preliminary report stating that a Tesla Semi electric truck in California required firefighters to use “50,000 gallons” (approximately 190,000 liters) of water to extinguish a roadside fire. Firefighting teams also deployed an aircraft to drop fire retardant on nearby areas as a precautionary measure to control the fire.

The accident occurred on August 19 at 3:13 AM local time on the I-80 highway east of Sacramento. The electric truck went off the road while navigating a curve, collided with a roadside boundary marker, and then struck a tree, coming to a stop. Fortunately, the driver was not injured in the accident; however, considering their health condition, they were taken to the hospital.

The Tesla Semi’s large 900 kWh battery caught fire upon impact, and toxic smoke began to spread during the fire. While the fire continued with temperatures reaching up to 538°C, firefighters worked intensively to cool the blaze with water. However, due to the fire’s effects, the vehicle continued to burn until late in the afternoon. Meanwhile, Tesla sent a technical expert to the scene regarding fire safety and high voltage hazards.

The highway reopened to traffic at 7:20 PM local time, 16 hours after the accident. The NTSB, as an organization that can only make recommendations and cannot enforce regulations, sent a team to the area for investigation purposes. This major accident raised several issues, including dangerously hot fires and toxic smoke, which will attract the attention of many international organizations.

The NTSB had previously stated in 2021 that fires in the batteries of electric vehicles pose serious risks to emergency response teams and that the guidelines provided by manufacturers for such fires are inadequate.

Tech

New Leaks and Features About the Samsung Galaxy S25 Ultra

Discover the latest leaks and features about the Samsung Galaxy S25 Ultra. Equipped with new technologies and advanced features, this smartphone elevates the user experience to a new level. Check it out for details!

Published

2 months ago

September 17, 2024

yönetici

New Leaks About Samsung Galaxy S25 Ultra

Samsung is expected to introduce the Galaxy S25 Ultra along with the Galaxy S25 series at the beginning of 2024, likely in January. Although no official announcement has been made yet, leaks regarding the upcoming flagship continue to spread rapidly on the internet. Notable leak source IceUniverse shared several new visuals of the Galaxy S25 Ultra in a post on the X platform. These visuals reveal the design differences between the Galaxy S25 Ultra and the Galaxy S24 Ultra.

One of the notable features in the leaked images of the Galaxy S25 Ultra is the rounded corners of the phone. In contrast, this year’s Galaxy S24 Ultra has quite sharp corners, which has led to feedback from some users indicating discomfort while holding the device. Previous leaks have suggested that the Galaxy S25 Ultra may be somewhat larger.

A tweet shared by IceUniverse: Galaxy S25 Ultra Image

According to leaks, the Galaxy S25 Ultra is expected to be thinner and lighter compared to previous models. In August, rumors emerged that the upcoming Galaxy S25 Ultra would be lighter than its competitors, with a weight of under 221 grams.

Another image featured in IceUniverse’s post shows close-ups of the sides of both next year’s expected flagship phone and Samsung’s current flagship. In this image, the side of the Galaxy S25 Ultra appears flatter with rounded corners. While these changes may not create a major revolution, they will generally positively affect the feel of the phone in hand.

Looking at other rumors about the Samsung Galaxy S25 Ultra, it is expected that the company will offer top-tier screen and camera upgrades next year. Additionally, there is a strong expectation that the satellite connection feature will also be introduced alongside the Galaxy S25.

Tech

iOS 18 Officially Released: Innovations and Features

iOS 18 has been officially released! This update, packed with new features and innovations, elevates the user experience to the next level. Check out our article for details and discover the new offerings of iOS 18!

Published

2 months ago

September 17, 2024

yönetici

iOS 18 Officially Released: Here Are the Innovations!

Apple officially launched iOS 18 yesterday, as promised. After a long beta testing phase, this update brings many exciting new features for iPhone users.

iOS 18 Officially Released: Innovations and Features

New Features in iOS 18

Advanced Customization Options on the Home Screen: With iOS 18, users can now arrange app icons freely without sticking to the traditional grid layout. Additionally, there’s an option to change the colors of the icons and adjust their darkness levels. In short, you are no longer bound to a boring layout. It raises questions why Apple waited until 2024 to offer this feature.
Revamped Control Center: The Control Center is completely redesigned in iOS 18. Users will be able to group controls more comfortably, and developers can easily add controls from their applications. Also, there’s an option to divide the Control Center into pages, allowing different controls on each page.
RCS Messaging Support: With iOS 18, Apple introduces Rich Communication Services (RCS) messaging support. Users can add various effects to their texts and react with new emojis for more colorful responses.
Updated Photos App: The Photos app is presented with a new opening page and a modern layout. Users can now browse photos by time, people, and many other criteria, reorder media files, and explore more with the “Collections” feature.
App Lock Feature: Users can now lock specific applications. For example, they can activate Face ID protection from the menu that appears when long-pressing an app icon. Thus, anyone wanting to open the app will have to pass the Face ID protection first.
Apple Intelligence: One of the important features of iOS 18 is Apple’s artificial intelligence kit, Apple Intelligence. However, to fully benefit from this feature, you’ll need to wait for the iOS 18.1 update. More information about Apple Intelligence can be found here.

How to Install iOS 18?