Stacks Foundation, an innovative team that is working on various implementations of programmable Bitcoin L2s, shares details of its latest R&D initiative, its objectives and funding plan.Stacks Working Group, a new research team of cryptocurrency professionals, starts its study program with focus on BitVM, a computational layer based on Bitcoin , the largest cryptocurrency.
Technologies like BitVM are complementary to networks like Stacks and other layers seeking the most secure, direct connection to the Bitcoin L1. BitVM is a computing paradigm that hopes to"enable a free market of second layers, potentially scaling Bitcoin to billions of users." BitVM is able to fuel many Web3 developments on Bitcoin , including the likes of Stacks, Bitcoin rollups and trust-minimized bridges. The core design of BitVM takes computation off-chain and implements a fraud-proving mechanism on the Bitcoin blockchain.
Further, the Stacks ecosystem is expected to invest more than $2 million on research and development over the next 12-18 months, assuming a viable path forward is determined and steady progress can be made as BitVM and other related technologies evolve toward production-ready solutions.
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