StarkWare researchers propose smart contracts for Bitcoin with ColliderVM
StarkWare and Weizmann Institute of Science researchers have developed a workaround for Bitcoin's scripting limitations that facilitates the deployment of complex smart contracts more efficiently. Their new protocol, ColliderVM, allows stateful computation on Bitcoin, enabling secure multi-step processes across transactions. Traditionally, the limitations of Bitcoin script hindered complex calculations, but ColliderVM aims to leverage Scalable Transparent Arguments of Knowledge (STARKs) to verify complex offchain computations with minimal onchain data. This new implementation is expected to be more efficient than previous systems which relied heavily on cryptographic proofs, such as BitVM. While ColliderVM approaches practicality for STARK proof verification on-chain, it remains trust-minimized. Researchers claim that this advancement could better position Bitcoin in the competitive landscape of blockchain technologies, especially concerning scalability and security. The study was authored by Eli Ben-Sasson and other prominent figures in the sector, recognizing a need for Bitcoin layer-2 solutions that maintain Bitcoin's security integrity.
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