As a seasoned crypto investor with over a decade of experience under my belt, I can confidently say that Robin Linus has made waves in the industry that are reminiscent of Satoshi Nakamoto himself. His groundbreaking work on BitVM and BitVM2 has not only shaken up the development landscape but also rekindled the spirit of innovation that is at the heart of crypto.
In October 2023, Robin Linus stirred up the crypto development world with a whitepaper detailing a theoretical approach to make Bitcoin more adaptable. Dubbed as “BitVM,” this idea was further refined and developed in August 2024 with the release of BitVM2. This updated version showcased potential enhancements that could bring the concept closer to practical application.
The debut of BitVM by Linus, an influential member at ZeroSync Association – a Swiss non-profit organization headquartered in Canton Zug – was celebrated as groundbreaking since it didn’t necessitate any modifications to the Bitcoin code. The release of Linus’s initial design for BitVM sparked enthusiasm among developers for constructing projects based on Bitcoin.
BitVM2 intends to establish a sidechain, which is essentially an additional network running on top of Bitcoin, designed for quicker and more affordable transactions while maintaining the primary network’s security standards. This setup could provide a secure conduit for transferring BTC to the sidechain, with the option to later retrieve the BTC back, thus facilitating deposits and withdrawals.
Linus’ work forms the basis for several significant projects in the Bitcoin development community, including Rootstock’s “BitVMX” initiative and the hybrid Bitcoin-Ethereum layer-2 project BOB (“Build on Bitcoin”). The latter aspires to make the original blockchain network the hub of the Decentralized Finance (DeFi) world.
This profile is included in our “CoinDesk’s Most Influential 2024” collection. To view all the nominees from this year, please click [HERE] (before publication, insert link here).
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2024-12-10 18:19