BitVM3: More Efficient Bitcoin Bridges with Garbled Circuits
A new paper introduces BitVM3, a trust-minimized Bitcoin bridge architecture using garbled circuits to reduce on-chain dispute costs , enabling smaller bonds, broader operator participation, and smaller deposits.
eprint.iacr.org
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BitVM3: Efficient Bitcoin Bridges via Garbled Circuits
Bitcoin bridges, protocols that lock BTC on Bitcoin and represent it on a secondary system, underpin much of Bitcoin's application layer, yet remain poorly secured. Deployed bridges rely on federated custody with honest-majority assumptions, while BitVM2, the state of the art in trust-minimized bridging, incurs worst-case dispute costs of approximately $16,000, requiring large operator bonds and deposits that restrict participation to well-capitalized parties.