A BOB Research report into the status of BitVM development and roll out.
BitVM is a zero-to-one innovation for Bitcoin custody with greater potential impact than MPC protocols. It enables the execution of arbitrary programs on Bitcoin through off-chain computation with on-chain dispute resolution. Similar to Optimism but for Bitcoin, BitVM will power secure L2s and bridges without requiring trust of any third parties.
The first BitVM prototypes went live in Q4 2024, and public testnets that can be tested by users and operators alike are launching in Q1 2025.
This new research report from the BOB Research team reviews the current BitVM state of play:
- BitVM overview and protocol summary.
- Roles and requirements for successful implementation.
- Pros and cons of the different potential pathways to Bitcoin security for an L2 blockchain.
- BOB’s BitVM progress.
