Bitcoin sidechain developers release BitVM2 white paper, with enhanced scalability

BlockBeats news, on August 16, BOB co-founder Alexei Zamyatin posted on social media that Bitcoin expansion developers have released a new white paper on the second version of the Bitcoin virtual machine, BitVM2, and the updated BitVM Bridge. The white paper details the latest achievements in improving transaction efficiency within the Bitcoin network by improving transaction processing capabilities and, in some cases, updating encryption methods.

The white paper points out that the main goal of BitVM2 is to increase Bitcoin's transaction capacity without modifying Bitcoin's core code or principles such as decentralization. Unlike V1, BitVM2 introduces a permissionless system that allows any user to question suspicious transactions.

In addition, the white paper also mentions improvements to BitVM Bridge, focusing on reducing capital requirements and shortening asset lock-up periods, which support cross-chain between Bitcoin and Rollup.

BlockBeats previously reported that ZeroSync project leader and BitVM creator Robin Linus (who also participated in the development of V2) first introduced BitVM in October last year.