PANews reported on August 16 that according to Cointelegraph, Robin Linus, the developer of Bitcoin Virtual Machine (BitVM), a Bitcoin expansion solution, launched the second version of its side chain, "BitVM2", and BitVM Bridge. They said that this upgraded version has made "significant improvements" to the original system. In an article published on X on August 15, BitVM co-founder Alexei Zamyatin outlined a new white paper that introduces a new framework that explains how BitVM2 and BitVM Bridge will work.

One of the major improvements in the latest version is that it is now “permissionless,” meaning anyone can challenge a suspicious transaction with just three transactions to complete the challenge. Previous versions of BitVM required up to 70 transactions to complete a challenge, and only a few specific parties could make a challenge request.

Overall, the main goal of BitVM2 is to implement a rollup - an independent network built on top of Bitcoin that can process transactions more efficiently while maintaining similar security to the original Bitcoin network. BitVM Bridge will allow users to securely transfer Bitcoin to the rollup network and withdraw it with a shorter lock-up period and smaller initial funding requirements.