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

December 31, 2019 00:33:10
Episode Cover

Reboot - The Three Economic Eras of Bitcoin [Rusty Russell]

A most profound aspect of Bitcoin is that we know, with certainty, what the monetary policy will be no matter how far we look...

Listen

Episode

July 18, 2023 00:44:53
Episode Cover

Read_749 - Economics of Bitcoin as a Settlement Network [Saifedean]

"The obsession with consumer payments in the Bitcoin community is an unfortunate relic of the fiat money era. Generations that have only known monetary...

Listen

Episode

January 25, 2024 02:03:36
Episode Cover

Ai Read_004 - Building a Language Model (Part 2)

  "It’s important to step outside of the hype and critically-analyze what is and is not useful. It’s very easy to get caught up in...

Listen