According to TechFlow, the developer Super Testnet said that BitVM focuses on Bitcoin expansion rather than launching DeFi applications similar to Ethereum-based ones on the network.
The BitVM white paper was released on October 10 by Robin Linus, the project leader of ZeroSync, and was technically supported by Super Testnet, which implemented the first proof of concept of BitVM and worked to expand the functionality of BitVM. However, after the release of the white paper, some industry experts believe that BitVM will introduce DeFi to Bitcoin, similar to the role of EVM in Ethereum.
Super Testnet said that BitVM focuses on capacity expansion, rather than deploying smart contracts and issuing a large number of altcoins (although BitVM may reduce the demand for altcoins), and the real killer application is to expand Bitcoin. He does not want BitVM to be filled with EVM-like tokens because this will bring bad actors to Bitcoin.
He added that building a decentralized trading platform on Bitcoin would be a "step backwards"; in addition, BitVM's expected payment infrastructure will improve one of the shortcomings of the Lightning Network - payment reliability, and is expected to achieve 60% of the Lightning Network's transaction speed. (Cointelegraph)
Earlier news, Robin Linus, co-founder of blockchain developer ZeroSync, released the BitVM white paper, which aims to enhance the functionality of Bitcoin smart contracts without the need for a soft fork upgrade of the network consensus rules.
