Enhanced Bitcoin Scaling Solution BitVM2 and BitVM Bridge Introduced

The team behind the Bitcoin scaling solution BitVM has launched BitVM2 and the BitVM Bridge, offering significant improvements. BitVM co-founder Alexei Zamyatin presented a new white paper outlining the functionality of BitVM2 and the BitVM Bridge. Unlike its predecessor, BitVM2 is now permissionless, allowing anyone to challenge suspicious transactions with just three transactions. Previously, up to 70 transactions were needed for a challenge, limited to specific parties. The focus of BitVM2 is to facilitate a rollup network on Bitcoin for more efficient transaction processing while maintaining security. The BitVM Bridge enables safe transfer and withdrawal of Bitcoin on the rollup with shorter lock-up periods and lower capital requirements. The project aims to enhance Bitcoin scalability rather than introduce DeFi applications. The release of the white paper has spurred development in Bitcoin's layer-2 networks and rollups, emphasizing scalability as the primary goal for BitVM.