New BitVM Proposal Aims to Enable Smart Contracts on Bitcoin Without Protocol Changes
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New BitVM proposal aims to enable Turing-complete smart contracts on Bitcoin without changing the base layer protocol.
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Computations done off-chain, verified on-chain via challenge-response game between "prover" and "verifier".
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Limitations include high off-chain data costs and only involving two parties in each contract.
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Seen as early, limited version of Ethereum's EVM that could be improved over time.
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Latest attempt to expand Bitcoin's scripting capabilities without a protocol upgrade, similar to previous sBTC proposal.