dntse

Half our team was terrified to do the BitVM experiment publicly.

"What if we fail? We'll look bad."

I told them: I'm tweeting. It's on me.

セキュリティ共有はどこから来るのか？

サトシ自身、2010年頃。

しかし、マージマイニングには2つの重大な欠陥があった：PoW専用の互換性とビットコインマイナーの無償攻撃問題。

スラッシングを伴うビットコインステーキングは、ビットコインを使用してPoSチェーンを保護することで両方を解決する。

Every Ethereum proponent brings up the "Bitcoin security budget problem" from halvings.

Bitcoin has gone through multiple halvings over 16 years. Its security and adoption are at all-time highs.

Theory rarely matches practice.

Engineering principle: Never build to the absolute limit.

When designing Bitcoin staking, I wanted maximum timelock (~16 months).

Our engineers wisely insisted on 90% of max to account for edge cases.

BitVM's 3.9999MB transactions learned this lesson the hard way.

Network effects.

My Bitcoin DeFi thesis: We're not trying to kill Bitcoin or replace it with new chains.

Bitcoin holds 60-70% of crypto's market cap. New chains hold 30-40%. Bitcoin DeFi connects these two worlds.

One plus one equals three when you bridge the largest capital source with the most innovation.

私たちは、非常に具体的な問題に取り組んでいる4人の研究者（2人の博士課程の学生を含む）います：BitVMの取引コストを15,000ドルから15ドルに削減すること。

これまでに25〜30時間のブレインストーミングを行いました。まだ取り組んでいます。

技術的に深く、具体的で測定可能な目標を持つ暗号学の問題は珍しいです。

Babylon creates a two-sided marketplace connecting Bitcoin holders with chains seeking Bitcoin's power.

On one side: Bitcoin stakers seeking yield without sacrificing security principles.

On the other: Protocols needing Bitcoin's security, liquidity, or both.

Bitcoin's scripting language is intentionally primitive—it can basically do addition and multiplication.

Building a ZK proof verifier in this environment is like writing assembly code to solve advanced cryptography.

The 1GB verifier compressed to 4MB chunks through 'tricks' shows what's possible within Bitcoin's constraints.

Interesting shift in crypto discourse: Infrastructure projects are being re-framed as yield generators.

At Bitcoin Vegas, I went from security/consensus panels to "how do you help Bitcoiners earn yield" discussions.

The market is devaluing hard infrastructure. But sustainable yield requires solid foundations.

Interesting.

Didn’t know about BitVMX: a "long lost family" in the BitVM ecosystem.

While BitVM2 uses ~4MB transactions, BitVMX achieves similar functionality with factor 5 to 10 smaller transactions.

Join us for the 4th Science and Engineering of Consensus workshop on the day before SBC’25 with another exciting line-up of speakers.

🗓️ When? Sunday, 3 August 2025
📍 Where? Tilden Room, MLK Building, Berkeley, CA
🎯 Registration (required to attend in-person): https://t.co/GGKgDMjwVz

Speakers:
@TheWattenhofer (Anza Solana & ETH Zurich), @benafisch (Yale & Espresso Systems), @dionyziz (Common Prefix), @yangl1996 (MegaETH), @siobhcroo (UC Berkeley), @andrewlewispye (London School of Economics), Victor Shoup (Offchain Labs & NYU) and Yu Shen (University of Edinburgh)

Let’s change the paradigm for a second.

With Bitcoin at a $2.2T market cap and Ethereum at ~$331B, the question isn't whether Bitcoin can compete.

It's whether anything else can.

The narrative has fundamentally shifted.

Projects now seek Bitcoin alignment rather than alternatives to it.

The strongest position in crypto is leveraging Bitcoin.

Real-world engineering lesson from our BitVM experiment: Never engineer to the absolute limit.

Our 3.9999MB block exceeded mining pool safety margins despite being under Bitcoin's 4MB cap. One mining pool offered manual processing for 1 BTC.

The BitVM community fixed it overnight.

Oh, an always leave room for error.

反証TX

The Babylon R & D team is about to run a pretty ambitious BitVM experiment.

A live-fire test on Bitcoin mainnet to see if the entire "unhappy path" actually works, something to the best of our knowledge no BitVM team has ever done before.

🧵 Here’s what we’re testing, and why it matters:

Nakamoto's paper only contained one true innovation:

The longest chain consensus protocol.

Everything else: proof of work, digital signatures, and incentives are existing ideas integrated into a coherent system.

The brilliance wasn't in specialization, but in synthesis. Bitcoin emerged from connecting disparate elements.

ビットコインは量子力学と興味深い類似性を持っています: 一度それに関わると、基本的にそれを変えてしまいます。

この特性はビットコインのUTXOモデルから来ており、深い意味を持っています。

最近、弁護士が次のように主張しているのを聞きました: "元のビットコインを戻す場合は課税対象ではありません。" これは根本的な誤解を示しています。技術的な意味での「元のビットコイン」というものは存在しません。

ビットコインのアーキテクチャでは、コインは離散的なオブジェクトとして存在しません。システムは未使用取引出力（UTXO）を追跡します。ビットコインを受け取ると、UTXOを受け取ることになります: ブロックチェーン台帳のエントリです。

しかし、ビットコインを使うたびに、元のUTXOは完全に破壊され、新しいUTXOが生成されます。

このプロセスは量子力学に似ており、測定が観測される粒子を変化させます。

ビットコインで取引を行う行為はそれを変形させます: UTXO Aが存在し、取引が行われ、UTXO Aが破壊され、UTXO BとC（お釣り）が今存在します。

新しいUTXOは異なる取引ID、ブロックチェーン内の位置、および特性を持っています。技術的な意味で同じ「ビットコイン」ではありません。

The narrative has shifted.

Projects are now approaching Babylon seeking Bitcoin alignment without prompting.

Bitcoin isn't just digital gold but an ecosystem advantage that protocols actively want to associate with.

Babylon's engineering focus has three clear priorities:

1. Integrating with many partner chains that seek Bitcoin alignment
2. Enhancing Babylon Genesis with EVM support and faster block times (from 10s to 2-3s)
3. Developing a Bitcoin bridge with minimized trust assumptions

Each advances Bitcoin's utility without changing its core protocol.

Building a trustless Bitcoin bridge presents unique challenges:

- Current solutions require significant operator capital (~10-20k security deposit to pay for dispute transactions)
- Front-running capital needs for bridge operations
- Complex trust assumptions