Motivation

πŸ“œ TL;DR:

  • Current BTC-Relay systems exist with current limitations.

  • By embedding a full indexed Bitcoin node directly inside the EVM, hVM allows anyone to build custom Bitcoin interoperability infrastructure directly in the EVM, limitation-free.

  • dApp developers to build all kinds of Bitcoin-aware dApps and custom Bitcoin interoperability infrastructure on hVM.


🚧 Relay Limitations

  • Current BTC-Relay systems exist with current limitations:

    • Rely on third-party relayers

    • Require large proofs with expensive validation

    • Can only prove a transaction exists in Bitcoin (no UTXO set proofs, no balance proofs, etc.)

  • Other protocols have designed alternate Bitcoin interoperability primitives that serve ONLY specific use cases like 3-party noncustodial escrow, or smart-contract-controlled wallets run by the network validator set.

  • dApp developers are limited to the narrow functionality and forced governance/security models that these enshrined primitives provide.


πŸ’‘ With hVM, we set out to create something much more powerful and flexible that enabled anyone to build custom Bitcoin interoperability infrastructure directly in the EVM.


πŸ” How?

By embedding a full indexed Bitcoin node directly inside the EVM, hVM:

  • Does not involve any relayer system or trust assumption

  • Does not require validation of any expensive proofs

  • Supports secure queries for Bitcoin information that requires processing the entire chain like UTXOs, balances, and eventually popular Bitcoin metaprotocols


πŸ—οΈ Use Cases

hVM enables dApp developers to build all kinds of Bitcoin-aware dApps and custom Bitcoin interoperability infrastructure which was previously infeasible or outright impossible on other networks.

Some use cases of hVM include:

  • Non-custodial BTC<->ETH asset exchanges

  • Bitcoin MEV marketplaces

  • Bitcoin lending markets

  • Bitcoin staking systems

  • Custom smart-wallets with configurable validator sets and signing technology

  • Custom Bitcoin tunnels (Hemi’s own standard Bitcoin tunnel is being built entirely on hVM)

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