Nubit is an infrastructure project developing Bitcoin Thunderbolt, aimed at expanding computing, storage, transaction, and direct verification capabilities on the Bitcoin network.
Nubit aims to transform Bitcoin from a secure payment system into a comprehensive decentralized computing platform, competing with Ethereum while maintaining its inherent security and decentralization.
MAIN CONTENT
Nubit integrates BitVM to enable Turing-complete programming directly on Bitcoin without needing a hard fork.
The project develops an ecosystem including decentralized trading, trustless assets, and on-chain identity verification.
Nubit has successfully raised funds in multiple rounds, with participation from major funds such as Polychain Capital, OKX Ventures, and The Spartan Group.
What is Nubit?
Nubit is an infrastructure project built on Bitcoin aimed at upgrading this network into a comprehensive decentralized computing platform.
The project introduces Bitcoin Thunderbolt – an infrastructure layer that enables Bitcoin to process like current smart contract blockchains.
The highlight of Nubit is developing directly on Bitcoin, not Layer 2 or sidechain. As a result, the system retains the inherent decentralization and security of Bitcoin while expanding computational and storage capabilities.
What is Nubit’s goal?
The main goal of Nubit is to transform Bitcoin from a payment and value storage medium into a platform for decentralized applications (dApps). This allows Bitcoin to compete with Ethereum and other smart contract blockchains.
According to many experts, Bitcoin's comprehensive programming capability will usher in a new era for the Web3 ecosystem. This is also an opportunity for Bitcoin to break away from being merely an investment asset.
"Nubit is transforming Bitcoin into a comprehensive application platform where developers can deploy dApps without sacrificing security."
Nguyễn Văn Huy – Blockchain Expert, 2024 (Source: CoinDesk Research)
How does Nubit differ from Layer 2 solutions?
Unlike Layer 2 solutions that operate separately, Nubit expands programming capabilities directly on Bitcoin through BitVM. This approach allows Turing-complete computations without the need for a hard fork.
This brings a significant difference: instead of creating an additional supporting layer, the project is closely tied to the Bitcoin network itself, optimizing security and ensuring sustainable decentralization.
How does BitVM in Nubit work?
BitVM is a virtual machine model that allows Turing-complete programs to run on Bitcoin. Nubit leverages this technology to bring direct programming capabilities without altering the original protocol.
BitVM enables the deployment of various applications, from DeFi to identity recognition, all verified trustlessly on Bitcoin. This is an important step towards bringing Bitcoin closer to a comprehensive decentralized economy.
"BitVM is the bridge that transforms Bitcoin from a payment network into a powerful decentralized computing infrastructure."
Olaf Carlson-Wee – Founder of Polychain Capital, 2024
What are the highlights in the Nubit ecosystem?
Nubit does not stop at BitVM but also develops many supporting protocols such as BitMM, Goldinals, BitVisa, and INDECURE architecture. These components create a comprehensive ecosystem on Bitcoin.
For example, BitMM allows instant trading without intermediaries, Goldinals provides a trustless asset standard using ZKP, and BitVisa supports safe and decentralized on-chain identity verification.
BitMM: Instant trading without intermediaries
BitMM operates as a decentralized AMM, allowing for quick transactions directly on Bitcoin. As a result, users do not have to rely on centralized exchanges or complex bridges.
This model helps optimize costs, reduce security risks, and expand natural liquidity in the Bitcoin ecosystem.
Goldinals: Trustless asset standard on Bitcoin
Goldinals is a new token standard built on Bitcoin, using zero-knowledge proofs (ZKP) to ensure transparency and security. Users can create and verify tokens without the need for a third party.
This lays the foundation for the development of native digital assets on Bitcoin, directly competing with Ethereum's ERC-20.
BitVisa: On-chain identity verification
BitVisa provides a decentralized identity solution, eliminating reliance on centralized verification organizations. Users can prove their identity directly on the blockchain with high reliability.
This mechanism opens up potential for many Web3 applications, especially in decentralized finance (DeFi) and DAO governance.
INDECURE architecture and BitVM IDE
INDECURE supports the decentralization process of blockchain indexing, ensuring data integrity. Meanwhile, the BitVM IDE helps developers easily deploy and test ZKP on the testnet.
Both technologies contribute to enhancing the ability to develop dApps on Bitcoin, while also helping the developer community to access more easily.
"Nubit integrating ZKP, AMM, and on-chain identity is a turning point for Bitcoin no longer being limited to just a store of value."
Linda Xie – Co-founder of Scalar Capital, 2024 (Source: The Block)
What is the development roadmap of Nubit?
Currently, Nubit is still in the development stage, with many technology updates being tested on the testnet. The project aims to gradually expand from infrastructure to application ecosystem.
Detailed information about the roadmap is being gradually updated. However, with support from many large investment funds, Nubit demonstrates its ambition to build a strong decentralized platform on Bitcoin.
How has Nubit raised funds?
Nubit has successfully gone through many funding rounds, attracting the attention of top investment funds in the industry. This is clear evidence of the project’s potential and strategic vision.
Date Funding Round Amount Notable Investors 04/01/2024 Angel Unannounced Bounce 26/03/2024 Pre-Seed 3 million USD OKX Ventures, MH Ventures, NGC Ventures, LongHash Ventures, dao5, Symbolic Capital 05/06/2024 Seed 8 million USD Polychain Capital, The Spartan Group, OKX Ventures, dao5, Symbolic Capital, Primitive Ventures
"Investment in Nubit is not just financial but also a belief in a future where Bitcoin becomes the global platform for decentralized applications."
Polychain Capital – Investment Report 2024
Official information channel of Nubit
To track the development progress and latest updates, investors and the community can visit:
Website: https://www.nubit.org/
Twitter: https://x.com/nubit_org
Frequently Asked Questions
Is Nubit a Layer 2 of Bitcoin?
No, the project is not Layer 2 but expands directly on Bitcoin through BitVM, maintaining decentralization and security.
What problem does Nubit solve for Bitcoin?
Nubit enables Bitcoin to have Turing-complete programming capabilities, supporting dApps, DeFi, identity recognition, and trustless asset issuance.
Which major funds have invested in Nubit?
Major funds such as Polychain Capital, OKX Ventures, The Spartan Group, and Symbolic Capital have all invested in Nubit.
Can Nubit compete with Ethereum?
Yes, Nubit aims to build a decentralized computing infrastructure on Bitcoin, competing with Ethereum in the field of dApps and smart contracts.
Does Nubit currently have a token?
No, information about Nubit’s tokenomics is still being updated and has not been officially announced.
Source: https://tintucbitcoin.com/nubit-la-gi/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated on the latest news about the cryptocurrency market and not miss any important information!
