BitVM
BitVM Developer Preview
This demo showcases the latest progress of the BitVM project.
It presents the first real-world use case of BitVM: the complete protocol process BitVM Bridge.
This demo marks a significant milestone for the BitVM project as it moves toward the next critical stage: a code audit of the foundational library.
Signet Transactions
A public signet(bitvmnet) is set up for the BitVM development and testing.
People can check the transactions in public signet explorer.
Transaction Graph
Transaction Explanation
Following the terms of the BitVM bridge paper
Roles
Alice is a peg-in user, who wants deposit v BTC into a BitVM2 instance.
Bob is a peg-out user, who wants withdraw the v wrapped BTC to Bitcoin.
Peg in
https://mempool.bitvmnet.org/tx/4dd5d195073af820875b5f19dc2ab30862798af2ea63fc37aecbe1051f1e8688
Alice deposits v BTC on Bitcoin into a BitVM2 instance via a PegIn transaction. In this stage, Alice has a chance to retreat her funds.
Peg in confirm
https://mempool.bitvmnet.org/tx/e9663b684cb15f255ef0a77fdcc5ffebcfa0ba06dc32b4650b3fab8d91da518f
Alice sends PegIn Confirm transaction to confirm the peg-in operation. The sidesystem verifies that the PegIn transaction was included in the Bitcoin blockchain and mints v wrapped BTC to Alice’s account in the sidesystem. Alice can now freely use wrapped BTC on the sidesystem.
Peg out
https://mempool.bitvmnet.org/tx/095c21cc45331da7fdb45f8f56e184c4d983cf86f539fd32ee39cc44543e71bd
Bob wants to withdraw the v wrapped BTC back to Bitcion. For this, he burns the v wrapped BTC using a Burn transaction on the sidesystem, which makes the wrapped BTC unspendable. At this stage, one of the m operators effectively fronts the v wrapped BTC from their own funds. The operator compete to publish the PegOut transaction in order to claim the associated fees, and Bob get BTC from this transaction.
Peg out confirm
https://mempool.bitvmnet.org/tx/1c74c2819717b3af854c2ab50b58001186e40f384fb8c1bd01791fce64cc7353
The PegOut Confirm transaction will reveal related transaction IDs in both source network (SideSystem Network) and destination network (Bitcoin Network).
Kickoff_1
https://mempool.bitvmnet.org/tx/8d96aab47ef67279141ae0eeccf1b588ab9ad1d75fba1a6dd46a70845499006e
The operator initiates a claim to recover the pre-funded amount of v BTC from BitVM2. This is done by publishing the Kickoff_1 transaction. This transaction opens a commitment and challenge period, during which all challengers perform this verification on their local machines and publish the challenge transaction. For the purpose of demo, the following transaction happened in the challenge path by default.
Kickoff 2
https://mempool.bitvmnet.org/tx/3c8d81f37e28f64b34a76e41b58788c94e1a7e7a0761c2d5a235aa956908243a
The operator must publish the Kickoff_2 transaction immediately, committing to the current time TS. This time TS marks the start of a superblock measurement period that lasts for the period (e.g. 2000 blocks), during which the operator must observe all blocks on the main chain and identify the heaviest superblock SB.
Assert initial
https://mempool.bitvmnet.org/tx/8d386719cc3bc461e07c261a14419fd87b8e56374283b79e357b05b9fb3fd45c
Assert transactions are a family of transactions that reveal all the intermediate states of the SNARK verifier program. Assert Initial transaction is a preparation transaction to efficiently send asserts transaction.
Assert Commit_1
https://mempool.bitvmnet.org/tx/bb29da2a87879faf46c22fbb19a3961b226c4a6075bad5226a6802472fbb0871
Assert Commit_1 transaction is the first parallel assert transaction which contains half of all the intermediate states.
Assert Commit_2
https://mempool.bitvmnet.org/tx/93e951de5ce6335f588f344ff58d54e1d813fcecc192a186bf7e19d712556680
Assert Commit_2 transaction is the second parallel assert transaction which contains another half of all the intermediate states.
Assert Final
https://mempool.bitvmnet.org/tx/e7da86777532342521f80bbf2bfc477ebbab289866b6c2842673a006ec34512a
Assert Final is the final transaction to close all assert transactions. all the intermediate states form an execution trace of the SNARK verifier program.
Disprove
https://mempool.bitvmnet.org/tx/ee29855315760b5b839ad20c9ce19a1e235c54afc2431b2a527b97458c0ab8e5
SNARK verifier program is splited into leafs of a Taptree. The disprove transaction allows anyone to challenge a part of SNARK verifier program. This is possible if and only if the operator made an incorrect claim about one of the intermediary states. Anyone can read the commitments made by the operator from the execution trace and provide them as inputs to the script in one of the leaves.
Reproduce Demo
Developers can use the following stuff to reproduce the processes in the local environment.
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