BitVM could be simplified as a proposed additional feature to Bitcoin protocol that require no changes to the protocol consensus rules.
BitVM could enable the so called "smart-contract" on Bitcoin which is previously thought to be impossible.
Things like multisig, timelocked UTXO, channel opening/closing, etc. are examples of smart contract executions. But with BitVM it can enable even more complex stuff with minimal onchain footprint.
From end-user's perspective i see similarity with DLC tho. 10101 uses DLC to create trustless pegged sats equivalent to fiat value & Atomic Finance uses DLC to enable automatic option trading to generate yields.
BitVM could be simplified as a proposed additional feature to Bitcoin protocol that require no changes to the protocol consensus rules.
BitVM could enable the so called "smart-contract" on Bitcoin which is previously thought to be impossible.
Things like multisig, timelocked UTXO, channel opening/closing, etc. are examples of smart contract executions. But with BitVM it can enable even more complex stuff with minimal onchain footprint.
From end-user's perspective i see similarity with DLC tho. 10101 uses DLC to create trustless pegged sats equivalent to fiat value & Atomic Finance uses DLC to enable automatic option trading to generate yields.