Bitcoin Researchers Unveiling Open-Source Framework BitVMX for BTC-Powered Programs
RootstickLabs is backing the BitVMX framework for Bitcoin computational targeting, powering functions, and applications by utilizing the native BTC.
The BitVMX framework draws inspiration from Robin Linus to power aggregator oracle and token bridges.
Bitcoin researchers confirmed edging closer to unveiling the new open-source framework identified as BitVMX. The framework intends to facilitate the building of complex applications and the secure execution of functions on Bitcoin’s base layer.
BitVMX is based on the BitVM project by Robin Linus. The researchers creating the framework are tapping the support from RootstockLabs, which also developed the firm behind the Bitcoin layer-2 protocol Rootstock. The BitVMX developers aim to create a framework for the open-source, sidechain-agnostic, and peer-reviewed programs to help build the Bitcoin-powered programs.
RootstockLabs lead scientist Sergio Lerner acknowledged that completing the BitVMX project will positively impact the entire Bitcoin ecosystem.
Lemer indicated that the BitVMX official unveiling is at the Bitcoin++ Austin conference. The launch will coincide with the publication of BitVMX’s white paper. He has a solid reputation for exploring patterns to ascertain hardware that Bitcoin creator Satoshi Nakamoto utilized in early mining.
BitVMX Aims Powering Bitcoin-Based Programs
A reflection on the technical aspect of BitVMX reveals that it facilitates the locking of funds in the unspent transaction output (UTXO) by integrating a spend condition reliant on the program’s execution result. Lerner indicated that the program needs a definition when creating the UTXO, though it is unnecessary for the program input.
The scientist illustrated that the framework has broad possibilities with the potential to power various applications and functions. The researcher hailed BitVMX as essentially allowing developers to facilitate the running of multiple applications on Bitcoin and Linux.
Lerner added that BitVMX can power bridges to Bitcoin to facilitate unilateral BTC flow in the main chain and sidechain ecosystem. The guaranteed flow in sidechains such as Rootstock is critical to ensure its interaction with the decentralized applications (DApps) and smart contracts.
Lerner highlighted that BitVMX’s use case is building aggregator oracles to collect and verify data from multiple sources. The aggregator oracles will subsequently store such data within the Bitcoin network through automation without compromising its decentralization.
BitVMX targets to support the existence of various verifiers directly on the Bitcoin network. In particular, it will prop Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (zk-SNARK) and Zero-Knowledge Scalable Transparent Argument of Knowledge (zk-STARK). Such accomplishment will help usher in multiple applications, including the autonomous bug-bounty initiatives and zero-knowledge (zk) contingent payments.
Bitcoin Community Criticizes Marketing Ploys on L2
The Bitcoin community has decried the widespread trend of affinity marketing ploys deployed by the startups. They accuse the firms of promoting Bitcoin L2s profiled to operate natively on-chain.
Lerner distanced BitMVX from token sales and clarified that the framework primarily allows the secure creation of autonomous decentralized bridges from collateralizing foreign tokens.
Lerner projects BitVMX to inspire a wave where Bitcoin builders will broaden the entire network’s functionality. The scientist added that the BitVMX framework will facilitate complex spending constraints targeting Bitcoin’s base layer.
Lerner observed that Bitcoin’s scripting language suffers from the absence of critical postcodes. The unveiling of BitVMX will make it cheaper and more efficient. The team aims to bolster Bitcoin’s efficiency in executing various functions and applications.
Lerner acknowledges that BitVMX will shift the narrative to accelerate Bitcoin changes and potentially restore opcodes such as OP_CAP and OP_MUL.
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