The company said that the Bitcoin smart contract is implemented by mining pools behind 31.5 % of the network gatherings, which will help ensure its system work on Bitcoin Blockchain.
According to the May 27 announcement with CointeleGRAPH, Bitlayer Bitvm will be supported by Bitcoin (BTC) major mining pools including Antpool, F2pool and SpiderPool. The CEO of Antpool and Chow said:
“Antpool has become the Bitlayer bridge operator to support Bitcoin innovation and protect the interests of miners.”
BITVM (Bitcoin Virtual Machine) is a frame that allows the publication of complex smart contracts on Blockchain Bitcoin without changing the foundation protocol. The idea was presented by Robin Linux in 2023, and allows to verify the complex account that involves smart contract systems and implement them in a optimistic way.
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Implementation Bitvm
Bitlayer is the Bitvm app, aimed at allowing Bitcoin to flow through decentralized financing systems (Defi) and second layer networks. According to ChOW, implementation may increase the activity in the Bitcoin network and generate revenues for miners:
“This expansion in the use of Bitcoin’s use increases the network activity, generating additional fees for transactions and revenue opportunities for workers. With a decrease in the bonus bonuses over time, the growing fees markets are necessary for the income of sustainable miners.”
Mining pools such as Chow Antpool play an important role in adopting bitvm applications because they directly determine the inclusion of new types of transactions and text programs in the consensus layer.
Bitvm requires mining workers to include customized transactions based on Taproot that codes the logic of interactive verification. Mining pools must agree to these non -standard or intense script programs in the blocks, otherwise the protocol will not work simply.
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Support the mining gathering
According to the Razuhat Index DataAntpool controls 17.2 % of the Bitcoin segment as of May 26, while F2Pool controls 8.2 % and SpiderPool 6.1 %. This results in a total number of retailers by 31.5 %.
This is sufficient to secure the inclusion of transactions in the belows in every three blocks. This is supposed to test, initial models and applications in the early stage.
With this percentage of retail support, developers can build functional systems with the assumption that despite some cumin, BITVM transactions will be processed. So, although it is difficult to look at this retail as allowing entirely functional spreading, it is likely to be sufficient for the early stages of Bitvm development.
“It should weaken collective retail support or policy attacks within Bitcoin Core, we have a multi -layer emergency plan.” This plan includes “expanded mining partnership partnerships”, referring to the company’s intention to maintain more mining pools.
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