One of BitVM’s developers said that BitVM aims to scale Bitcoin rather than launch Ethereum-like DeFi applications on the Bitcoin network.
The Bitcoin community releases a white paper "BitVM: Perform any computation on Bitcoin"
Although when the BitVM white paper was released, it was believed that it would bring Ethereum-like DeFi features to Bitcoin. However, the developer Super Testnet emphasized that BitVM is more focused on expanding the network rather than implementing smart contracts, and he does not want BitVM to be overwhelmed by the countless tokens on Ethereum, as this would attract bad actors to the Bitcoin network.
Super Testnet also believes that BitVM will not be the “death moment” for tokens on Ethereum, despite some people making that claim.
The developer hopes that Bitcoin will remain the only unit of currency on the Bitcoin network:
“One of the key features that makes Bitcoin important is maintaining a monetary asset that everyone can agree on, rather than having a myriad of tokens with floating exchange rates that are a burden on commerce,” he said.
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