Read_770 - The Big Deal with BitVM

October 11, 2023 00:53:15
Read_770 - The Big Deal with BitVM
Bitcoin Audible
Read_770 - The Big Deal with BitVM

Oct 11 2023 | 00:53:15

/

Hosted By

Guy Swann

Show Notes

"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!

-----------------------------------------------------------------

“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


--- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

Other Episodes

Episode

October 26, 2023 00:37:53
Episode Cover

Read_774 - Bitcoin Won't Fix the Federal Reserve

"Will Bitcoin adoption improve the monetary policy behaviors of the Federal Reserve? I submit that it won’t. I do not see the incentive for...

Listen

Episode

February 18, 2023 00:46:15
Episode Cover

Basics_03 - Keys, Everything You Need to Know

Not your keys, not your coins. What does this mean? Your Bitcoin keys are literally the keys to the kingdom. They are everything, they...

Listen

Episode

February 16, 2021 02:01:17
Episode Cover

Read_495 - An Economic Analysis of Ethereum [Lyn Alden]

“The annual issuance rate with all those annotations kind of looks like it was drawn by a Bitcoiner making fun of Ethereum, but instead...

Listen