Bitcoin developer Super Testnet argues that building a decentralized exchange on Bitcoin would be a “step backward” and that the focus should be on scaling Bitcoin rather than implementing Ethereum-like decentralized finance applications. BitVM, a Bitcoin-based virtual machine, aims to scale Bitcoin by enabling it to process millions of transactions per second. Super Testnet believes that flooding BitVM with Ethereum-like tokens would attract bad actors and sees BitVM as a potential competitor to Ethereum’s altcoins. The developer hopes that Bitcoin remains the only monetary unit on the Bitcoin network to maintain a stable monetary asset for commerce. BitVM also aims to improve payment reliability, which is a shortcoming of the Lightning Network. However, Super Testnet clarifies that BitVM, in its current state, cannot compute “anything” as suggested in its whitepaper and requires additional development to support more functions.
