I suspect these people do not have any working code yet for bitvm. I suspect they want to give the impression that they do in order to raise money, then run off with that money without delivering anything.
There are about 7 total people who I've seen work with bitvm's codebase. None of us have anything more than a proof of concept or a toy right now. I suspect that if these people really had something, they would have shared it with us and we would all be excitedly exploring what they've accomplished.
Announcements like this, without proof of work, are a big red flag for Scam.
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They do have https://github.com/chainwayxyz/toy-bitvm-rs but like you said, this is an extremely naive/inefficient way to do things
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Bingo. Sad news is people like this are competing for sats that could instead go towards genuine development. Bull runs bring the scams and the noise that follows.
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oh, so not related to your team's work?
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Correct. Also, I do not have a team, I work solo. Robin has a team though and this is unrelated to his team.
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0 sats \ 1 reply \ @sime 7 Feb
So that makes you Batman?
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529 sats \ 4 replies \ @harrr 6 Feb
This sounds cool.. but I'm too exhausted to read it all... is there some video intro? I usually prefer written text, but today..
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21 sats \ 2 replies \ @hueso 6 Feb
This is not what we mean by DYOR.
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0 sats \ 1 reply \ @harrr 6 Feb
Lol. If you're too insecure to ask where to find documentation I can't help you.
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Too exhausted to read it all doesn't sound like asking for documentation . It would like to lazy to read the documentation, so give me a short video.
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Awesome ! BitVM is the way ! One question, will fees be paid in bitcoin ?
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Looks like it's got a bridge for BTC, so I assume they will.
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We are making rapid progress.
As evidenced by your Proof-of-Blog-Post Shame! Shame to all who suggest work without proof.
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251 sats \ 0 replies \ @joda 6 Feb
Their website looks like someone took three sentences, fed them into ChatGPT and had it return 10 pages saying the same thing.
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Red flags:
  • "Bitcoin's first"
  • ZK Rollup
  • No code
  • www.blog.___.xyz
Curious what a ZK Rollup is, but I ain't clicking that.
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21 sats \ 1 reply \ @hueso 6 Feb
"Bitcoin's first"
technically true
ZK Rollup
what's wrong with this?
No code
fair point
www.blog.___.xyz
what's the problem here? would you rather use a walled garden blog platform like medium? I don't get it
Curious what a ZK Rollup is, but I ain't clicking that.
do read about it. they're a big deal
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"Bitcoin's first" technically true
it's not the first, it hasn't even launched yet. if it launches on mainnet first then they can claim first.
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21 sats \ 1 reply \ @joda 6 Feb
According to Ruben Somsen, rollups only provide about a 2x scaling factor, because they only aggregate witness data:
20 sats \ 0 replies \ @fred 6 Feb
Bitcoin is getting more excited with Zk Rollup like this, I see more coming
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It's a financial service offering EVM capabilities to Bitcoin users in trust-minimized way using ZKPs.
Bitcoin does validate the legitimacy of peg-outs using BitVM.
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10 sats \ 0 replies \ @hueso 6 Feb
It does not only validates peg-outs. It validates the entire sidechain.
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10 sats \ 4 replies \ @kr 6 Feb
cool! can you elaborate on the similarities and differences between the Citrea rollup and the popular ZK rollups on other chains? Do they basically all work the same way?
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3759 sats \ 2 replies \ @lightcoin 7 Feb
Assuming the details in the post and docs accurately describe what the final product will look like, the main difference is that Citrea is verified optimistically using a BitVM program rather than an onchain smart contract, and as such is limited to at-best a 1-of-n security model (where n is a permissioned group of arbitrary size) rather than a single honest party security model (as in optimistic rollups, where the single honest party could be anyone, and it is assumed that they can get a fault proof transaction confirmed during a challenge period) or a trustless security model (as in validity rollups, where all rollup txs are cryptographically verified). That said, the developers of almost all rollups on other chains have chosen to ultimately rely on some kind of multisig for security, because their smart contracts can be upgraded to any arbitrary new code using a multisig (often a "committee" of trusted community members, often with no time delay). So assuming this rollup does not choose to insert some trusted multisig into the governance model, that could also be a difference.
Other than those differences the rollup works the same as other zkEVM rollups: it is EVM compatible, it posts its state data to a parent chain (in this case bitcoin), and it inherits the full double-spend resistance and data availability guarantees of bitcoin.
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as such is limited to at-best a 1-of-n security model (where n is a permissioned group of arbitrary size)
Worth noting: bitvm can also work in a security model where each sidechain user has a direct contract with a bridge operator and thus does not need to trust him or her. In this case the 1-of-N is a 1-of-2 and the user is among the 2, consequently the user only needs to trust themselves (and bitcoin's standard trust assumptions, e.g. they must assume miners are not censoring them).
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0 sats \ 0 replies \ @kr 7 Feb
thanks, appreciate the thorough explanation!
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Code not public yet...
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I'm cautiously positive on Citrea (my knowledge is level potato on this though). If BitVM gets reasonable performance on doing the proofs, this model seems quite good and it seems possible to plug this into LN, so all LN infra and wallets can continue working & expanding while we get more "onchain" capacity.
What worries me is the people that funded this work... feels like a bunch of shitcoiners, but I'm happy to be proven wrong.
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thought zk rollups was an eth 💩🪙 thingy.
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Just trying to get my head around, why it took so long to have this on Bitcoin? Also what are the trade offs?
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Cof cof... SCAM... Cof cof
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The site look like something pulled out of freemium Wordpress
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Sounds gay
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  • Gay and fake
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