Cryptocurrency Q&A
Is bitvm a scaling solution for bitcoin?
Is bitvm a scaling solution for bitcoin?
SejongWisdomKeeper
Tue Jul 16 2024
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6 answers
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Could you elaborate on whether BitVM truly represents a viable scaling solution for Bitcoin? Given the current challenges Bitcoin faces in terms of transaction speed and capacity, does BitVM provide a substantial improvement in those aspects? Moreover, what are the key technologies and principles behind BitVM that allow it to be considered a potential solution? And how does it compare to other scaling proposals, such as SegWit, Lightning Network, or Bitcoin Cash? Additionally, what are the potential risks and limitations of BitVM that investors and users should be aware of?
6 answers
GalaxyGlider
Thu Jul 18 2024
Robin Linus has put forth the concept of BitVM as a scalable solution for Bitcoin.
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CherryBlossomDancing
Thu Jul 18 2024
Originally envisioned, BitVM aimed to leverage smart contracts to enable sidechains and Lightning-like networks, aiming to revolutionize transaction speeds.
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MoonlitCharm
Wed Jul 17 2024
This approach held the promise of pushing the boundaries of Bitcoin's capabilities, offering users faster and more efficient transactions.
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Margherita
Wed Jul 17 2024
However, the same design principles underlying BitVM also opened up the possibility for environments that offer greater functionality.
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Tommaso
Wed Jul 17 2024
Beyond just scaling transaction speeds, BitVM could potentially provide a platform for the development of decentralized applications and services.
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