Recently, Robin Linus, the mind behind a groundbreaking zk-proof light client for Bitcoin, unveiled his latest masterpiece in the form of a white paper titled “BitVM: Compute Anything on Bitcoin.” This revelation introduces a novel perspective that has the potential to reshape our understanding of Bitcoin’s capabilities, all without the need for consensus-altering hard forks.
The key revelation within the realm of BitVM is its ability to accommodate Turing-complete Bitcoin contracts within its framework. The significance lies in the fact that this breakthrough doesn’t necessitate any modifications to the network’s consensus mechanisms. Drawing a parallel with the concept of optimistic rollups, BitVM transforms Bitcoin computations into a validation process rather than direct execution.
The crypto community, especially on platforms like Reddit and X (formerly known as Twitter), has erupted with enthusiasm over this development. Some are boldly claiming that BitVM renders all alternative coins irrelevant. The notion of “computing anything on Bitcoin without requiring a fork” has ignited intense discussions and debates in these digital spaces.
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Bob Bodily, the CEO of Bioniq Market, took to Twitter to clarify BitVM’s essence, describing it as a unique amalgamation of Optimistic Roll Up, Fraud Proof, Taproot Leaf, and Bitcoin Script computing paradigm crafted by Robin Linus at Zero Sync. It’s worth noting that BitVM, while superior in terms of programmability on Bitcoin, is slower, costlier, and more intricate compared to Ethereum’s EVM.
Sam Parker, the Head of Technology and co-founder at Blockchain Transition emphasizes that Bitcoin is now as Turing Complete as any other blockchain, all without necessitating any changes to Bitcoin’s core protocol. While it might not be technically as complete as some, it is “Turing complete enough” to execute most reasonable software applications.
Crucially, Parker clarifies that BitVM is an optional feature. Users are not obliged to engage with Turing-complete contracts if they’re uncomfortable with the idea. This approach opens doors to transitioning from trusted or semi-trusted services to fully trustless interactions and reduces reliance on centralized “Bitcoin edge” services.
Following a thorough perusal of the whitepaper, Taproot Wizard Eric Wall expressed cautious optimism. He is excited about real-world experimentation but raised concerns about the initial setup, especially in the context of handling extensive pre-signed transaction exchanges. Wall suggests that if BitVM can efficiently verify a zk proof within its framework, it might assume the role of the zkwasm layer, serving as a foundation for various external participant plug-ins and outputs.
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Remarks on the BitVM development
A reviewer of the whitepaper, known as Super Testnet, hailed this discovery as “the most thrilling revelation in the history of Bitcoin script.” This is indeed a substantial leap forward, eliminating the need for forks to integrate features like Liquid- and EVM-style covenants and sidechains.
Nonetheless, we can’t ignore the intricacies of BitVM. Some developers, propose that BitVM could benefit from integrating Simple Covenants (BIP-119 = CTV). While BitVM’s potential is undeniably promising, its practical implementation and potential impact on current systems remain uncertain.
Maxim Orlovsky from the LNP/BP Standards Association praised the concept but voiced reservations. He pointed out that the Bitcoin script lacks the multiplication and modulo-division functions required for real-world systems such as zk-STARKS.
Implementing this protocol on the Bitcoin network may necessitate more than 2127 NAND gates, a formidable challenge that might take years or even require a soft fork to overcome.
