Bitcoin’s Ethereum-Style Programmability Could Come in 12 Months, Rootstock Founder Says

As an analyst with extensive experience in blockchain technology and a background in computer science, I find Rootstock’s BitVMX project to be an intriguing development for the Bitcoin ecosystem. The potential for programmability atop Bitcoin without requiring significant code changes could pave the way for the creation of layer-2 networks, which have proven to be essential for Ethereum’s growth and scalability.

In Austin, Texas, the founder of Rootstock, a Bitcoin layer-2 protocol, has revealed plans for a new project called “BitVMX.” This initiative aims to enhance the functionality of the oldest blockchain by building upon Robin Linn’s widely debated “BitVM” concept from last year.

At the Bitcoin++ gathering in Austin, Texas on Wednesday, Sergio Demian Lerner, a renowned Argentinian programmer based in Buenos Aires, shared insights about his past investigations into Satoshi Nakamoto’s early Bitcoin mining activities and his subsequent role in enhancing Ethereum blockchain.

During the presentation, Lerner expressed that we have a well-planned timeline to accomplish this within the next twelve months, and furthermore, we are making significant progress towards our goal with great momentum.

Last year, Linus introduced BitVM as a groundbreaking development for Bitcoin, which has been praised by many Bitcoin developers. The potential of BitVM lies in its ability to enable the creation of programmable layer-2 networks, much like those in Ethereum’s ecosystem that help reduce transaction costs and increase speed. A significant aspect of BitVM is that it doesn’t necessitate any modifications to the original Bitcoin codebase. Given the decentralized nature of Bitcoin’s governance and the challenges in reaching consensus among developers for significant upgrades, this feature is highly valued.

Last month during an interview on CoinDesk’s The Protocol podcast, I mentioned working on a new crypto project with my team, but I kept the specifics under wraps.

Last week, I came across an intriguing blog post by Rootstock Labs where they emphasized the distinction between theory and practice in relation to Linus Torvalds’ initial idea.

The BitVMX research team plans to expand upon this preliminary finding by incorporating more advancements, leading to a enhanced platform for executing software on Bitcoin, as stated in the blog post. The moniker is a tribute to BitVMX’s roots while emphasizing its mission to expand Bitcoin and expedite the creation of future sidechains and layer 2 solutions.

A team of core contributors at Rootstock Labs is currently developing a public plan outlining anticipated upgrades to the network within the next year.

The BitVMX framework allows for the execution of any CPU on the Bitcoin network, with a primary goal of supporting a fully-functional RISC-V processor. This can be achieved through standard compilation toolchains, opening up a wide range of potential applications.