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Bitcoin wizard David Seroy discusses the feasibility of Bitcoin L2s, Bitcoin building potential, Ethereum scalability, Mantle Network, off-chain computation in BitVM, and the Bitcoin community's new trust assumptions. The conversation highlights the differences between Bitcoin and Ethereum layer twos, innovative developments in Bitcoin building, potential limitations of lightning network, and the importance of merging innovations for a comprehensive financial ecosystem.
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- Bit VM enables off-chain computation and verification on Bitcoin's blockchain for scalability and innovation.
- Bit VM acts as a bridge primitive connecting Bitcoin to other ecosystems for enhanced functionality.
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Bit VM: Unlocking Expressivity on Bitcoin
Bit VM is a project that aims to enable the creation of layer twos and bridges on the Bitcoin blockchain. It allows for off-chain computation and verification, using a prover and verifier setup. The prover commits to running a certain set of computations, and if they are found to be fraudulent, a verifier can submit a fraud proof to the Bitcoin blockchain. Bit VM can be used to build traditional rollups, settling directly onto Bitcoin, or to create pegged versions of Bitcoin with similar trust assumptions. The possibilities for innovation and scalability are vast, and Bit VM provides the bridge to explore new frontiers on and off the Bitcoin blockchain.
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