The introduction of smart Bitvm contracts as a large milestone in the path of expansion and Bitcoin programming. Rowned in the original Bitvm Protocol, Bitlayer's Final bridge The first version of the protocol is presented to Live on Testnet, a good starting point for the Renaissance promises Bitcoin or “Season 2”.
Unlike the previous BTC bridges that often required relying on central entities or doubtful confidence assumptions, the final bridge enhances a mixture of smart Bitvm contracts, proving fraud, and proving zero knowledge. This mixture not only enhances safety, but also greatly reduces the need for confidence in third parties. We are not at the unreliable level provided by Lightning, but this is the best million times of the current Sidechains designs that claim to be Bitcoin 2 layers (as well as a significant design space for Bitcoin applications).
The system works on a principle in which the money is safely locking in the addresses governed by the Smart Bitvm contract, and it works under the hypothesis that at least one participant in the system will act honestly. This preparation is inherently reduced by the requirements of confidence, but it must provide additional complications bitlayer It aims to manage this version of the bridge.
Trust mechanics
Practically, when Bitcoin is locked in the smart nodes of Bitvm through the Finality Bridge, YBTC users are released – a symbol that keeps a strict connection 1: 1 with Bitcoin. This bend is not just a promise, but it is implemented through the logic of the basic smart contract, ensuring that all YBTC represents a real bitcoin closed on the main series (there are no BTC standards “renewed”. This mechanism allows users to participate in Defi activities such as lending and borrowing Agriculture in the Bitlayer ecosystem without compromising the security and settlement guarantees provided by Bitcoin.
Although some in society may find these activities rejected, this type of architecture allows users to obtain some guarantees that they have not previously been able to obtain traditional Sidechain designs, with the additional reward that we do not need to “change” Bitcoin to make it happens That (although the covenants will make this bridge design “completely confident, which will actually make it”TRUEBitcoin 2). For more details about different levels of risk associated with Sidechains designs, look at Bitlayer's bitlayer rating here.
However, until such progress comes, Bitlayer Finality Bridge is the best awareness of the Bitvm 2 model. It is a testimony of what is possible after “Brain Dev” from the central chains to Bitcoin. Despite all the challenges you will face Bitvm, you are still exceptionally excited about the possibility of Bitcoin as the final settlement chain of all economic activity.
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Guillaume articles in particular may discuss topics or companies that are part of his company's investment portfolio (Robo administration). The views expressed are only his own and do not represent the opinions of the employer or his subsidiaries. He does not receive any financial compensation for this. Readers should not consider this content as a financial advice or support for any specific company or investment. Always do your research before making financial decisions.
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