First on Main Stage at @btcplusplus Istanbul: Robin Linus with “BitVM3: Garbled Circuits”
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BitVM is a solution to bridge Bitcoin to
second layers leveraging optimistic SNARK verification
Research around Garbled Circuits explodes, with the BitVM Alliance leading the way. Many different directions are being explored in parallel.
Garbled Circuits can improve efficiency of the SNARK verifier, thus upgrading BitVM2.
From 6MB to 70kB total.
Challenges and Tradeoffs:
- Snark verifier is around 10 billions gates
- Off-chain cost on circuit size and performances
- On-chain cost for transactions
- Some security assumptions have to be taken into account.
Solutions: Other schemes for verifiable garbling are getting explored
BitVM3s are one of these, but still maintain some of the drawbacks, such as the requirement for a trusted setup.
Take-home point: BitVM2 is nearly production ready but can be already considered old. BitVM3 and Garbled Circuits are the future.
Follow our open source reporter @tuma for on the ground about talks and workshops at @btcplusplus Istanbul scaling event!
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