That’s exciting news! Implementing a Blake3 hash lock in Bitcoin Script is a significant development in the world of cryptocurrency. This innovation could potentially open up new use cases and improve the security and flexibility of Bitcoin transactions.
Bitcoin Script is a low-level programming language used to define the conditions under which Bitcoin transactions can be spent. The addition of a Blake3 hash lock opcode in BitVM can enhance the scripting capabilities of Bitcoin, allowing users to create more complex and secure smart contracts.
Here the Blake3 code: https://github.com/BitVM/BitVM/tree/main/opcodes/blake
Blake3 is a modern cryptographic hash function known for its speed and security. Using it in Bitcoin Script can provide improved hashing capabilities, making it more resistant to attacks and offering enhanced privacy features.
It’s important to note that this kind of innovation is a testament to the continuous development and evolution of the Bitcoin ecosystem. As with any new feature or opcode, it’s important to thoroughly test and ensure its security before it becomes widely adopted. Congratulations on this milestone, and I hope it leads to even more exciting developments in the Bitcoin space!
In a nutshell, the development is about adding a powerful “math tool” (Blake3) to Bitcoin’s programming language, which opens up possibilities for creating special agreements and proving work done outside the Bitcoin network, but it’s not yet clear how much people will want to use these features.
Now, I’m going to 🌈 simplify the language for non-technical audience:
- Building a Virtual Machine (VM) Protocol: In simpler terms, think of a VM as a computer program that can run inside another program (like an app within your phone). They are making a special kind of “virtual computer” that can run on the Bitcoin network.
- Completing Building Blocks: for this virtual computer (BitVM), they needed various pieces (building blocks). One of the essential parts is a complex math function called a “hash function.” They’ve now successfully created all the necessary parts and just need to put them together.
- Blake3 Hash Function in Bitcoin Script: this new development involves adding a specific kind of “math function” (Blake3) to Bitcoin Script. Bitcoin Script is like the language used to create the rules for Bitcoin transactions. This means that two people can use this new function to create a special kind of agreement or contract. If one of them tries to cheat, there are ways to catch them.
- Proving Off-Chain Computations: the idea that while this new math tool is added to Bitcoin, there are ways to prove that some of the work happens outside of the main Bitcoin system. So, people can agree on something, do some work off the Bitcoin network, and still prove they did it honestly. This is a bit like showing a teacher your homework, even if you did it at home and not in the classroom.
- Exploring Demand: people are exploring different ways to do this kind of off-network work and prove it’s done correctly. However, it’s not clear yet whether there’s a strong desire or need for these features in the world of Bitcoin.
Related: Argentina needs #Bitcoin
