Building a decentralized exchange on Bitcoin would be a “step backward,” according to Bitcoin developer Super Testnet. BitVM, a Bitcoin-based virtual machine, is intended to scale Bitcoin rather than launch decentralized finance applications on the network. Super Testnet emphasized that the goal of BitVM is to enable Bitcoin to process millions of transactions per second and improve payment reliability. He also expressed concerns about bringing Ethereum’s ecosystem to Bitcoin, citing the prevalence of Ponzi schemes. BitVM is optional and users can transfer BTC or Bitcoin assets out of the virtual machine back into cold storage. However, Super Testnet clarified that BitVM, in its current state, cannot compute “anything” as suggested in its white paper and additional primitives need to be built.
