Topic: Bitcoin Virtual Machine (Read 202 times)

Thanks all you for your valuable answers !

Yes building an L2 that doesn't spit on what Bitcoin stand exactly for what MVC is aiming to deliver.

As a community driven project and opensource we are trying to reach expertise from every aspect in order to provide a real sustainable solution for BTC. According to previous answer it's definitely a good place to exchange opinions.

We are open to go through every point of view in order to provide the best solution. My first post has all the links in order to understand our project towards Bitcoin Network.

Feedback are more than welcome and we are having a 2 millions dollars builder grant to welcome every builders than want to be BTCfi pathfinder and explore BVM possibilities.

Cheers!

It belong to bitcoin discussion, cause at the end of the day it fulfills the fact that you have to be takiing about bitcoin primarily for your post to not be deleted here.

While I don’t think this is a great idea as well cause this is literally just Networking with extra steps on no pyramiding, we don’t really have any control on whether this project will boom or not. I say it won’t cause congested and slow as bitcoin’s network is a lot of people aren’t too pressed about it really, especially when in exchange they get unrivaled security against any form of attack to steal their money. So let them do L2 solutions like these and take a stab at a market that’s so immovable it practically remained the same all those years, it also fosters innovation after all so perhaps in the future we might really get a layer 2 solution that works and does not spit on what bitcoin stands for.

Care to explain how the UTXO transaction model is related to DEFI functionalities? I don't really get what you want to say here.



With UTXO model you have to keep track of the UTXO set to be able to decide if a transaction input in a yet unconfirmed transaction is actually spendable. All spent UTXOs that got confirmed into a block have to be removed from the UTXO set while the newly generated UTXOs from those confirmed transaction outputs have to be added to the UTXO set.

Where exactly do you see parallelism here? Bitcoin's blockchain is quite serial in nature once nodes settle on the one and only valid chain of maximum amount of accumulated PoW.

Ethereum's account model has nothing to do with PoW or PoS as to my knowledge it was the same account model when Ethereum operated on PoW.

True. In addition ETH isn't fit for purpose. There is no way we are getting global adoption with something with such an awful user experience baked in. In addition to any scaling benefits - UTXO architecture (e.g. BTC) seems to be able to provide the potential DEFI functionalities while also providing Web3 application capabilities. I think i read somewhere that the biggest advantage of UTXO is its parallelism, whereas the account model (i.e. POS) can only operate in a serial manner. So BTC (and any sidechains) have a lot of room for innovation that have hardly been explored at all.

Ok Bitcoin can't be global currency let's assume that.

It's still a store of value and still have potential to be used for various economic applications and solution is needed.

To be recognized globaly especially into classic finance it needs to increase adoption & being leveraged, that's why there's a run on ETF. Creating new blockchain just to go around what BTC can't do, like ETH did, is just diluting crypto ecosystem and heaven to scam and money grabbing.

Building solutions on top of BTC is a key to gather back market and users into the only Decentralized and best asset of century. It's the key to open a new door for BTC application.

Whatever you think what Satoshi wanted, Bitcoin has been created and is opensource for anyone to build with it ? who's telling he didn't want it to be globalized? Nobody knows him... Wasn't Bitcoin created as a solution against bank supremacy?

Demand is here and solutions are needed. What's stoping you to continue using BTC as you want? What is wrong about welcoming new scaling solutions that doesn't affect core functions of BTC?

IMO L2 on BTC is the future otherwise BTC will somehow become past and a flippening will happen sooner or later. CBDC right in the corner lmfao

A few maxis don't. 
I agree wholeheartedly on the P2P network, although it's rather slow.

So you guys are gonna be the "scaling" solution for bitcoin? Why do you think bitcoin can't scale to become a global currency? Because it was never supposed to be one, Satoshi made sure of that by having 10 min blocks, 21m supply cap, small block size etc.
Everyone knows we can never have a global decentralized currency, it's just impossible.

Regarding this project, I can't blame you, when you can use your talents to create an application like this, you deserve to fill your pockets, there are so many idiots in this world.

Don't be offended, I'm just against anything other than "bitcoin" in bitcoin's world/universe. That's why I oppose anything related to L2, side, off chain, ordinal, monkey pics, etc etc.

Because we are aiming to deliver a 100% decentralized ecosystem build for BTC.

Does Lightning network or Liquid or RSK provides BTC smartcontracts or multichain opérability? Looks like mostly EVM based to me and not that suitable to demand...

Just looking at Altcoin marketcap you can't tell me demand for DEFI isn't huge? MVC is just developing solutions to unlock BTC limitations.

True ownership is a real concern especially in Asian country, building opensource & decentralized BTC solutions is a must to bring true ownership to humanity especially nowadays with all restrictions popping up.

Other than this it allows also other ecosystem or project to migrate on MVC network and offers all BVM possibilities to their users.

Why not belonging in bitcoin discussion ? it's introducing an innovation built for BTC the Bitcoin Virtual Machine.

You can right now on MVC:

- mine $Space with ASICS sha256
- mine/earn thanks to POB Proof of build feature by contributing to ecosystem & community development
- Buy on CEX of course
- Buy on DEX www.mvcswap.com and swap or provide LP for other ecosystem tokens (waiting for liquidity adding DAO proposal for SPACE/USDT)
- Get airdrops
- Purchase NFT

You will be able to (according to roadmap & various official announcements): https://mvcdao.gitbook.io/mvc-dao/about-us/about-mvc/roadmap

- Provide liquidity on BRC20 and earn BRC20 token - MVC token- Native BTC
- Trade and bridge NFT/Ordinals
- Stake BTC for passive income (loan / asset backing / revenue share)
- Micro payments

Basically anything built on MVC network will benefit from Bitcoin Parralel Univers 1:1 satoshi mapping (operability with $BTC)

The purpose is to get decentralized right, getting true ownership? $Space is just a gas token used for MVC network fees & governance.

Yes instead using Bitcoin into MVC Dapps you will need $SPACE to pay fees.
Yes you will be able to provide liquidity with Bitcoin (Natives not Wrapped) through Staking or LP to earn more without using any BTC to pay fees neither.
Yes same wallet adresse for BTC & MVC network

About the trust, that's a real concern and nothing is certain or have logic in Crypto. That's why DAO governance is important and opensource network of course...
Yes DAO has weakness as BTC has its weakness too. I won't go through all of them but it was said in community that when roadmap will get done and network working as planned impact of DAO will gradually decrease and POB functions & funds to be burned. Anyway making a proposal to submit the process is always possible.

This BVM tech is really something to look into.
https://medium.com/@shaolin987/unveiling-bvm-elevating-bitcoins-potential-with-utxo-and-turing-completeness-e3c585f68f7b
https://www.binance.com/en/feed/post/624319
https://moneyamped.com/bitcoin-virtual-machine-and-its-benefits/

MVC BVM gitbook : https://mvcdao.gitbook.io/mvc-dao/about-us/bvm-bitcoin-virtual-machine

You should also check https://scrypt.io that will provide 1st audit for MVC and pretty soon I believe Certik as well.

Feel free to ask more I will be happy to answer as I am an active member of DAO myself. I went for a quick flip and I ended community member lmfao!

Cool story, cool project etc. 😅
Now tell me, are we supposed to trade this amazing $SPACE on exchanges? If yes then this is just another "token" to fill your bags with, let me see if I understand the concept, people will lock their bitcoins using your platform and instead of bitcoin, they would use your token to trade and transact value across, am I right? If yes then I am also right about filling your bags.

Let me tell you something, L2 will never become a thing because is the opposite of what bitcoin stands for. People wouldn't take their funds from nationally backed banks and transfer them to "third party, unknown, private "bank wannabe"" entities just because they want to use bitcoin.

Imagine fast tx, instant txs, but why would people want to use micropayment services/chains linked with BTC? they can simply use their credit cards.

I hope you guys can think of something to eliminate the lack of trust issue, otherwise there will be no use case for such projects.

Hello everyone!

Let me introduce introduce to you BVM the Bitcoin Virtual Machine built by Micro Vision Chain

MVC is an opensource SHA-256 POW Turing Complete UTXO L1 & L2 sidechain for Bitcoin network. Fairlaunched, No VC and 100% community driven.

The goal as L2 for BTC is basically bring full DEFI on BTC thanks to BVM and 1:1 satoshi machine.

I wrote a medium article to understand what is BVM and how it can unlock BTC limitations.

https://medium.com/@shaolin987/unveiling-bvm-elevating-bitcoins-potential-with-utxo-and-turing-completeness-e3c585f68f7b

Website : https://www.microvisionchain.com/

Gitbook : https://mvcdao.gitbook.io/mvc-dao/

WhitePaper : https://mvcdao.gitbook.io/mvc-dao/about-us/technical-documentation

Github : https://github.com/mvc-labs

Explorer : https://www.mvcscan.com/

Domain API : https://mvcapi.com/

Telegram : https://t.me/mvcofficial

Discord : https://discord.gg/BYGyCtbpGs

Twitter : https://twitter.com/mvcglobal

Audit platform: https://scrypt.io/

We all know BTC is the only KING & L2 solutions like Micro Vision Chain is offering huge opportuniy to bring BTC to another level without causing congestions and extrem fees.

Combinaison of UTXO + BVM + Turing completeness allow real BTC parralel Univers that allows you to store your BTC on MVC network without wrapping it.

Here a thread to summarize how MVC features can make BTC an everyday currency
https://twitter.com/Shaolin_987/status/1681561000640905216

Chery on top is that MVC tokenomic has a DAO Proof of Build Mechanism that allows community members to mine $SPACE by contributing to its tech & community developement.

2 millions dollars Builder Grant is starting to attract more builders with ambition to be BTCfi pathfinder.

Another features built on MVC is BRC 20 orders.exchange the 1st DEX built on BTC with features as :

- Orderbook-style trading experience
- PSBT liquidity pool (Partially Signed Bitcoin Transaction)
- DIMM (Decentralized Instant Market Make)
- Leverage Yield Farming

Be ready for Bitcoin to have smart contracts, scalability, decreasing fees, instant transactions, multichain operability, micro payment, gamification, social features and all you can imagine.

+ being rewarded to build it

That's the power of Micro Vision Chain $SPACE