Veronika on Nostr: BitVM is quietly evolving: The new design, BitVM3, drastically reduces onchain costs ...
BitVM is quietly evolving:
The new design, BitVM3, drastically reduces onchain costs in the case of a challenge (by ~1000x).
In earlier versions, while challenging was permissionless, the high costs meant only a few well-capitalized entities could realistically participate in the process.
BitVM3 may change that, opening the door to a broader set of challengers.
The tradeoff: garbled circuits introduce a multi-terabyte offchain setup.
Reducing this overhead is an active research area and likely to see improvements.
https://bitvm.org/bitvm3.pdfPublished at
2025-06-15 14:20:44 UTCEvent JSON
{
"id": "c58504dd85b235dcef6bc78e908936bf7cd4ce4e41ee18aeafcc7735f8dee0d7",
"pubkey": "ccfd63f996f8dd6995063aecf3d8517671e049ad85e268daa9affc7986487338",
"created_at": 1749997244,
"kind": 1,
"tags": [
[
"r",
"https://bitvm.org/bitvm3.pdf"
]
],
"content": "BitVM is quietly evolving: \n\nThe new design, BitVM3, drastically reduces onchain costs in the case of a challenge (by ~1000x). \n\nIn earlier versions, while challenging was permissionless, the high costs meant only a few well-capitalized entities could realistically participate in the process. \nBitVM3 may change that, opening the door to a broader set of challengers. \n\nThe tradeoff: garbled circuits introduce a multi-terabyte offchain setup. \nReducing this overhead is an active research area and likely to see improvements.\n\nhttps://bitvm.org/bitvm3.pdf",
"sig": "9c2c58fac46eca1eb7a26bdbb56993a4e83ebf58431aa000185d320636c67391eba936c1e35511923538b5287d1d91400e74e3ac001a45bb104145f55e5574fd"
}
