Learn how to become a Bybit P2P Advertiser, post crypto trade ads for free, and leverage secure escrow, zero fees, and global reach to maximize profits.

Buying and selling cryptocurrencies for fiat money are key activities within the crypto industry. Crypto-to-fiat (and vice versa) trading operations support two vital processes that link the worlds of crypto and traditional finance — 

. While there are several primary ways of buying and selling crypto for fiat, 

 (P2P) markets are desirable to traders thanks to their flexibility and the absence of intermediary parties. Transacting with a fellow trader to buy or sell crypto can be a mutually beneficial deal for both parties, especially if the trading platform doesn’t take its cut in transaction fees.

Unfortunately, many P2P crypto markets suffer from two key drawbacks. One is the presence of transaction fees, imposed by the platform that acts as a matchmaking medium for the transaction. Such fees defeat one of the main purposes of P2P trading — namely, eliminating intermediaries with financial interest. The second problem relates to the numerous scams and disputes during transaction execution in these trades.

Among the best solutions to avoid these problems is 

. With zero transaction fees and a secure escrow system that protects both parties during a P2P crypto transaction, the platform may be an ideal choice for your crypto sell or buy operations. You can also register as an Advertiser on the platform to truly maximize the profitability and efficiency of your crypto-to-fiat or fiat-to-crypto activities. In this article, we’ll take an in-depth look into Bybit P2P Advertising and the numerous benefits that traders can derive from using this program, which is free to join for users of the Bybit P2P trading platform.

Bybit’s P2P trading platform helps cryptocurrency sellers and buyers conduct their P2P transactions with zero fees, a secure escrow system, access to a global audience of more than half a million users and the choice of more than 70 national fiat currencies, 300 cryptocurrencies and 600 payment methods. 

Run by one of the world’s leading cryptocurrency exchanges, Bybit P2P serves as one of the best mediums for crypto off-ramping and on-ramping.

Unlike smaller P2P platforms, Bybit P2P offers a sweeping range of fiat currencies. Among the more than 60 national currencies on offer are the U.S. dollar (USD), euro (EUR), British pound (GBP), Swiss franc (CHF), Singapore dollar (SGD), Brazilian real (BRL), United Arab Emirates dirham (AED) and many more.

True to the ethos of P2P trading, the platform charges no transaction fees for any buy or sell operations. Traders also benefit from an escrow system that lets both parties transact in complete security.

The two key parties on the platform are takers and makers. Takers place buy or sell orders through the existing ads on the platform, while makers are the ones placing the ads via the platform’s P2P Advertising program. 

Makers can post ads to increase the visibility of their crypto offers, thereby reaching more prospective buyers more quickly and optimizing the profitability and efficiency of their crypto trading. There are no fees involved for posting the ads or joining the Advertiser program. You do need to meet specific requirements, though, as we’ll detail further on.

As an Advertiser, you can also benefit from the unique P2P advertising shared asset function, which lets you place multiple ads for the same funds offered for sale. For example, if your account holds 500 USDT, you can place different ads for this amount, each tailored to different potential buyer segments.

There are three types of Advertisers on the Bybit P2P platform: General, Verified and Block. General Advertisers can publish their sell ads on the platform to attract potential buyers. Depending upon their last 30-day 

, they’re classified into either the Beginner, Regular or Veteran subtype.

General Advertisers who successfully undergo additional verification and meet certain trading activity requirements can earn the Verified Advertiser status. These users enjoy higher ad visibility rankings and more generous transaction limits.

Block Advertisers wish to trade cryptocurrency at higher volumes, and enjoy the most generous transaction limits. To become a Block Advertiser, traders will need to undergo a complete individual or institutional verification, depending upon the account variety held on Bybit.

To qualify as a General Advertiser, Bybit P2P users need to have been registered on the platform for at least 30 days. Their past 30-day trading volumes (on a rolling basis) determine their General Advertiser subtype. Beginner General Advertisers are those with a trading volume of less than 2,000 in USDT equivalent over the past 30 days. They also have no minimum requirement in terms of the number of counterparties transacted with during that period. 

Advertisers with a 30-day trading volume of at least 2,000 USDT and at least five counterparties qualify for the Regular General Advertiser designation. Those with a 30-day trading volume of at least 10,000 USDT and at least five counterparties can become Veteran General Advertisers. All General Advertisers also need to meet additional requirements in terms of the number of completed orders, order completion rate and basic 

. The table below outlines the requirements for all three varieties of General Advertisers.

Verified Advertisers need to meet further identity verification requirements beyond the basic level used for General Advertisers. They also need to have completed at least 60 orders in the past 30 days, have at least 100 total completed orders, maintain a favorable rating of at least 95%, achieve an average payment time of under 15 minutes and keep at least 500 USDT in their account at the time of application.

Block Advertisers also need to meet comprehensive individual or business verification requirements beyond those for Verified Advertisers. The verification requirements for Block Advertisers are summarized in the table below.

All Advertiser types, including General Advertisers, benefit from having their ads reach thousands of Bybit P2P users. General Advertisers enjoy ad limits commensurate with their level — 1,000, 20,000 or 50,000 USDT per ad for Beginner, Regular and Veteran, respectively. The amount limits per ad for BTC and ETH also vary according to the level.

Becoming a Verified Advertiser allows you to access additional benefits, such as a special logo confirming your verified status, higher ranking in the ad display algorithm, access to exclusive promotions and priority customer service.

You can post a P2P ad either from a desktop or via the Bybit mobile app as follows:

: To post a P2P ad from a desktop environment, navigate to 

 from the main menu on Bybit’s website and select the 

: Fill in the details of your ad, such as the type of ad, your preferred asset, minimum and maximum amounts per order, and price. You can choose either a fixed price — which remains unchanged, regardless of market developments — or a floating price — which varies based on ongoing market fluctuations. The floating price is calculated by taking into account the premium and the reference price to keep it in line with changing market dynamics.

: If you use the Bybit mobile app, tap on 

: Tap the three horizontal dots icon in the upper-right corner to go to 

: Fill in the details of your ad. After completing your ad’s details, review and publish it.

If you apply to become a Verified Advertiser or Block Advertiser, note that you’ll need to provide a 1,000 USDT security deposit. This amount remains frozen in your account while you maintain your Verified or Block Advertiser status.

Tips for Successful P2P Advertising on Bybit

As a P2P Advertiser, you can maximize your success and profitability on the platform by following a few strategies. Naturally, one of the keys to success is to offer competitive prices. This not only attracts more willing buyers, but may also help you in the ad positioning rankings, since the top five Verified Advertisers with the best prices are regularly selected to be shown to buyers as special recommendations.

Maintaining a high order completion rate is another key strategy for successful advertising: it helps build your reputation and acts as a factor in determining the ad visibility rankings.

Being flexible in terms of your order — for example, offering a variety of payment methods — is also critical. Bybit’s P2P Trading attracts a global audience of more than half a million users, so when you offer more payment methods, you’re more likely to find willing buyers from different localities.

Being responsive and prompt in answering potential buyer inquiries is also highly recommended. A further way to optimize your ad performance is to become a Verified Advertiser, which helps you both build trust and achieve a higher position in the ad ranking algorithm. If you routinely plan to trade at significant levels, such as tens or hundreds of thousands of USDT equivalent per order, you may also consider becoming a Block Advertiser, which helps you achieve the highest priority in ad rankings.

P2P crypto trading on Bybit is an excellent way to buy or sell crypto without any transaction fees while enjoying the protections provided by a leading crypto exchange platform. The platform’s secure escrow system, zero fees on P2P orders, global audience of more than half a million users, close to 600 payment methods and choice of around 60 fiat currencies and 300 cryptocurrencies make it an ideal environment for cryptocurrency buyers and sellers. 

Furthermore, when you become an Advertiser on the platform you significantly boost your trading outcomes, exponentially increase the visibility and reach of your ads, qualify for generous order limits and build trust as a Verified Advertiser.

Intermediate

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Becoming a P2P Advertiser on Bybit: Everything You Need to Know

P2P on Bybit is an easy and secure peer-to-peer trading platform. It facilitates the buying and selling of two users’ holdings at an optimal, agreed-upon price.

Peer-to-peer (or P2P) trading is a form of trade in which buyers and sellers directly exchange their crypto coins and fiat assets.

 trading platform which charges zero fees. 

It facilitates buying and selling of two users’ holdings at an optimal, agreed-upon price. Please note that Bybit does not provide the buy and sell offers on the P2P page, which are generated by the users directly themselves.

Bybit P2P supports over 300 cryptocurrencies, 70 fiat currencies and 600 payment methods, making the execution of P2P orders a breeze. Additionally, it’s a highly secure platform on which both buyers and sellers have to undergo rigorous 

 processes. Bybit also imposes stringent protocols to prevent frauds and scams, including a reporting function, a P2P 

 feature and security deposit requirements. You can also leave reviews for your counterparty after completing a trade with them to help other users make informed decisions. 

 for traders looking to directly buy and sell large amounts of assets between two parties, allowing traders to enjoy faster trade and reduced price slippage for large P2P orders. P2P Block has a single minimum 

order limit of 10,000 USDT, and a single maximum order limit of 200,000 USDT. 

The fee structure of P2P trading corresponds to two different types: taker and maker.

To learn more about fees on the Bybit P2P platform, please refer to 

P2P trading on Bybit is highly secure, thanks to the various rigorous security measures it implements. First, all users have to perform either Identity Verification (KYC) or Business KYC to trade on Bybit’s P2P platform. Additionally, if you’re conducting a trade that exceeds a certain transaction limit, you’ll also need to submit your KYC details for verification.

ensures the crypto amount in a seller’s advertisement is securely locked during transactions in order to safeguard buyers from potential fraud

Once a buy order is submitted, the amount of coin specified will be reserved on the P2P platform. This means that if the seller doesn’t release the coin within the time frame specified by the countdown timer after receiving the payment, our customer support has the right to release the coin from the reserved funds to the buyer after verification. (If you’re a seller, please make sure you’ve received the funds from the buyer before releasing your coin.) 

If you suspect any fraud, you can make use of Bybit’s reporting feature by clicking on the 

 button, which you’ll find either below your counterparty's user name during the transaction, or next to the user’s nickname on their profile page. 

Bybit also imposes security deposit requirements for certain users: those applying to become 

 (BA), and users flagged as potential risks by the system. These users need to deposit and freeze a specific security amount for access to P2P advertising rights.

In case of order disputes, you can also use the P2P 

 feature, which is available for all ongoing, completed or canceled orders within five calendar days after the order’s creation. 

There are two appeal tracks: Normal and Fast-Track. Normal Track appeals, which can be used for all kinds of appeals, have a longer processing time of over 48 hours, while Fast-Track appeals can be conducted within just 15 minutes. Note that Fast-Track appeals can only be used when the 

buyer has completed payment, but the counterparty hasn't released the coins yet, or when the seller hasn't received any payments from the counterparty.

Can’t wait to start your P2P trading journey? The following is a step-by-step guide to help you start your first P2P transaction on Bybit.

 on the top left corner of the navigation bar to enter the P2P trading page. 

 page, you can filter advertisers by entering your desired criteria for 

 and more, based on your specific transaction needs. 

: Choose your preferred advertisement, and click on

: Enter the amount of fiat currency you want to pay, or the number of coins you want to receive. Click on 

You’ll be redirected to the order page, where you’ll see a countdown timer for transferring the money to the seller's bank account. Make sure to verify that all of the order details are correct before proceeding. (Please 

 that certain orders may require verification.For such orders, click on 

 on the order page and provide the required proofs in the Order Chat Box.)

 once you’ve completed the payment. Acknowledge the rules, and click on 

 if you’ve provided the necessary information.

a. Once the coins you’ve purchased have been successfully released by the seller, you can check your assets in your 

. You can also check your order status from your 

b. If the seller fails to release the coins after 10 minutes, you can click on the 

Our customer support team will reach out to you. During this period, please do not cancel your order unless you’ve received a refund from your seller.

, based on your specific transaction needs. 

: Choose your preferred advertisement, and click on 

: Enter the amount of USDT you want to sell, or the amount of fiat currency you want to receive. Click on 

: You’ll be redirected to the order page, where you’ll see a countdown time during which the buyer needs to complete the payment.

: Once you’ve successfully received your payment from the buyer, click on 

 to release your coins. You’ll be asked to enter your 

: Please ensure you've received your funds from the buyer before ticking the confirmation box and releasing your coins.

Follow the steps below in the event the order transaction has failed:

1) If the buyer hasn’t completed the payment within the specified time frame, the order will automatically be canceled. The coins reserved on the P2P platform will also automatically be returned to your Funding Account.

2) If you’re notified that the payment has completed, but you have yet to receive your payment after 10 minutes, you can try to communicate with the buyer in the Order Chat Box before clicking on 

 to proceed with the appeal. If you’ve clicked on the button, our customer support team will reach out to you.

For more details on how to buy or sell, please refer to the following two articles:

 that you’ll need to complete at least KYC Level 1 before you can begin P2P trading.

 in the upper right-hand corner of the page.

To learn more about KYC, please refer to 

Beginner

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P2P on Bybit Trading: Everything You Need to Know

Avalon Labs is launching its AVL token on Bybit’s Spot trading platform on February 12, 2025, with deposits opening on February 11 and withdrawals on February 13.

Daily Top Performer — AI Rig Complex (ARC)

The S&P 500 rose 0.03% as investors awaited the CPI report and Powell’s testimony, with no imminent rate cuts expected. Gold regained $2,900 amid USD weakness, maintaining a bullish trend despite overbought conditions. Coindesk Indices, an index measuring broader cryptocurrency market performance was down by 2.11%, with Bitcoin and Ether dropping by 2.15% and 1.64%, respectively in the past 24 hours. Trade these markets and more with up to 500x leverage on Bybit MT5 using this 

Today’s top performer is ARC, which surged nearly 16.6% following the unveiling of its streamlined token launch mechanism.

AI Rig Complex (ARC), launched in 2024, is a high-performance AI framework built with Rust, enabling intuitive, context-aware interactions. Its core platform, Playgrounds, integrates multiple LLMs and AI workflows, streamlining development while eliminating vendor lock-in. ARC 

 a new token launch mechanism that optimizes liquidity and fees while focusing on ecosystem potential. Prioritizing simplicity and integration, it avoids arbitrary constraints, enabling a more curated and deliberate value creation process.

Check Out the Latest Prices, Charts, and Data of 

 its AVL token on Bybit’s Spot trading platform on February 12, 2025, with deposits opening on February 11 and withdrawals on February 13. AVL serves as a governance token within Avalon’s ecosystem, offering staking rewards, governance participation, and fee discounts. The launch includes a trading contest and deposit event with a total prize pool of 1.8 million AVL. Avalon’s ecosystem also features USDa, a Bitcoin-backed stablecoin designed for stability and DeFi utility. Bybit’s listing aims to enhance AVL’s liquidity and adoption while supporting Avalon’s broader financial products.

Yesterday, BTC Spot ETFs had a net outflow of $80.5M, entirely from non-GBTC funds, while GBTC remained unchanged.

 will airdrop 10% of $IP supply—5% via Direct Claims on Mainnet launch and 5% to Ecosystem Projects for user distribution. Eligibility includes Odyssey Badge, Chronicles & Kaito Genesis NFT holders, active community members, and Story Yappers. Sybil detection used clustering algorithms and Gitcoin Passport.

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Avalon Labs Launches AVL Token on Bybit with Staking and Rewards

Nillion is a decentralized computation network that enables secure data processing via blind computation, ensuring privacy for AI, DeFi and healthcare while using the NIL token for governance.

Nillion is a decentralized computation network that enables secure data processing without exposing raw information. It’s designed for industries in which privacy is critical, such as AI, DeFi, healthcare and cloud computing. Every year, over 5 billion personal records are exposed due to data breaches, costing businesses an average of $4.45 million per breach. AI models require vast amounts of user data, making privacy concerns a major hurdle.

Nillion solves this problem by using blind computation, a cryptographic method that processes data without decryption, eliminating traditional security risks. This article explores Nillion’s core technology, real-world applications and the NIL token, which powers its ecosystem.

 is a cryptographic method that allows data to be processed without ever being decrypted or exposed. This means that sensitive information — whether personal, financial or business-related — remains private and secure even during computation.

With traditional computation, data must be decrypted before processing, exposing it to potential leaks. In blind computation, data remains encrypted while being processed, ensuring privacy at all times. Thus, there’s no need for trusted intermediaries, eliminating the risk of insider threats, unauthorized access and data breaches.

Nillion uses multi-party computation (MPC), fully homomorphic encryption (FHE) and trusted execution environments (TEEs) to enable blind computation, making data privacy a reality.

Nillion is a decentralized computation network designed to process sensitive data securely. Unlike cloud-based systems that require data decryption, Nillion allows privacy-preserving computations without revealing raw information.

Nillion’s technology is critical for industries that handle sensitive data, including:

Nillion leverages advanced the following privacy-enhancing technologies (PETs):

By combining MPC, FHE and TEEs, Nillion makes decentralized, privacy-first computation a reality.

Nillion was founded in 2021 by cryptography, blockchain and data security experts from Hedera, Uber, Goldman Sachs and Indiegogo.

 from top-tier venture capital firms and strategic partners. The project has attracted investors specializing in blockchain, AI and decentralized infrastructure, including Hack VC, HashKey Capital, Distributed Global and Maelstrom.

Nillion’s infrastructure, which uses a decentralized computation model to securely process high-value private data without exposing it, consists of two primary components: 

. In addition, Nillion features advanced PETs that ensure secure computations.

Petnet is Nillion’s decentralized computation network. It distributes encrypted data across multiple nodes in order to perform blind computation. Unlike traditional blockchains, Petnet doesn’t rely on a global shared state, making it more scalable and efficient. 

 in Petnet specialize in handling different storage and computation tasks, ensuring flexibility for applications in AI, finance and enterprise solutions.

Nilchain is responsible for transaction validation, staking and governance within the Nillion ecosystem. Built using the 

, Nilchain facilitates payments for storage and computation services while ensuring network security through a delegated 

 (DPoS) mechanism. It also supports interoperability via the IBC (Inter-Blockchain Communication) Protocol.

 to ensure private and secure computation, including:

These technologies enable privacy-preserving AI models, financial transactions and decentralized data processing, making Nillion a pioneering network for secure computation.

Key Steps in Nillion’s Blind Computation Model

Nillion’s blind computation technology unlocks new possibilities for secure, private data processing across multiple industries such as the following:

By ensuring that data remains encrypted throughout computation, Nillion provides a decentralized alternative to traditional cloud-based privacy solutions.

The NIL token serves as the backbone of the Nillion network. Its utility includes:

, with a last traded price of 1.034 USDT and a total trading volume of 106,184 USDT.

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Nillion (NIL): Computation Network for Private Data

Bitcoin

Blockchain

BitVM (Bitcoin virtual machine) is a computational engine designed to enable smart contract–like functionality for Bitcoin. 

BitVM_transactions.png

In early October 2023, the acclaimed blockchain developer Robin Linus released the white paper for BitVM, a computational engine for 

 chain. Linus is a prominent figure in the industry, having created ZeroSync, a 

 protocol for Bitcoin. His latest innovation, BitVM, has the potential to impact the industry on a much more profound level than the ZeroSync platform.

By enabling smart contract functionality for the Bitcoin network, BitVM has the potential to leverage the massive army of Bitcoin holders and traders. Currently, smart contracts and 

 (ETH) and other smart chains. Yet, the world’s largest chain — Bitcoin — eschews the ongoing DApp revolution. BitVM is the latest and probably most promising technology that’s about to change the status quo.

Despite being the first and largest blockchain, Bitcoin isn’t natively equipped to run smart contracts, the technology that underpins DApps. As such, it largely remains a platform for cryptocurrency asset transfers and storage.

 details the technological implementation of this promising idea.

You can think of BitVM as an add-on computational layer for the Bitcoin chain that developers can use to power smart contract–like functionality. Notice how we use the term “smart contract–like” instead of simply “smart contract” when discussing BitVM. This is because there’s an important distinction between the complex smart contracts that run on Ethereum and BitVM's smart contract capabilities.

While Ethereum smart contracts are capable of supporting multi-party transactions, BitVM is designed to enable mostly two-party transactional exchanges. We’ll delve deeper into the distinction between the two in a later section.

Most of the processing in BitVM happens off-chain, reducing the load on the Bitcoin chain and enabling more efficient operations. The off-chain processed transactions are bundled into batches and posted to the underlying Bitcoin blockchain, utilizing a validity confirmation model similar to the one used in 

An essential feature of BitVM’s smart functionality is its 

. Turing-complete systems are capable of executing computational tasks of any degree of complexity. BitVM’s Turing completeness ensures that this computational engine can be used to program sufficiently complex smart contract–based applications.

BitVM's functionality is made possible through Bitcoin's 

. BitVM uses a model combining fraud proofs with a challenge-response protocol to process and validate transactions between two parties: a prover and a verifier. The prover initiates a computational task and sends it over the channel established between themselves and the verifier, who then confirms the validity of the computation. Once verified, the transaction is added to the overall batch collated for posting to the underlying Bitcoin blockchain.

If the verifier rejects the computational task sent by the prover, Bitcoin’s on-chain validity checking mechanism can then be used to examine the transaction and settle the dispute. The additional on-chain validation in such disputes protects the prover from spurious, wrongful rejections by the verifier, and the system is designed to punish verifiers who unjustly reject legitimate computations performed by provers.

At the same time, the on-chain dispute validation is also designed to penalize provers who send fraudulent or incorrect computations. If the verifier’s dispute claim is found to be justified, it’s the dishonest prover who is penalized by the system.

While additional on-chain validation in cases of disputes consumes the resources of the Bitcoin blockchain, the two-way interactions in which no disputes arise are settled within the BitVM environment, with no consumption of Bitcoin’s resources. The key idea is that the vast majority of two-way interactions between provers and verifiers aren’t going to result in disputes. As such, the overall impact of BitVM transactions on Bitcoin’s chain will be minimal.

BitVM’s model, therefore, assumes that most transactions posted to the blockchain are valid — thanks to the mutual agreements between provers and verifiers — unless a fraud claim is raised. Such an assumption is similar to the one used in classic blockchain optimistic rollups. While the exact technical nuances of optimistic rollups and the model used by BitVM differ, the verification model used by the computational engine can generally be described as one representation of optimistic validation technology.

After bundling transactions into a batch, BitVM then posts them to the Bitcoin blockchain. Both the optimistic validation model and batch-style processing used by BitVM significantly reduce the computational load on Bitcoin. As such, BitVM not only enables smart contract functionality on Bitcoin but does so in a highly efficient, low-consumption manner.

BitVM opens up enormous potential to leverage the world’s largest blockchain beyond simple Bitcoin transactions. The technology behind BitVM and its Turing-complete nature enables a large number of DApp solutions, mostly those that involve two-party interactions.

Some of the most promising use cases of BitVM on Bitcoin’s blockchain include the following.

Automated or High-Volume Payment Solutions

While Bitcoin by itself can be used for ordinary 

 (P2P) payments between two parties, the lack of smart contract functionality on its blockchain currently prevents the use of sophisticated payment solutions based on high-volume transactions or automated arrangements. 

There are many businesses, particularly within the fintech and supply chain industries, that would love to see such capabilities within Bitcoin. For instance, BitVM could enable automatic fulfillment of payment obligations upon delivery of goods or services. Frequent micropayments between two parties have also become a possibility, thanks to BitVM’s efficient transaction processing.

The core functionality of betting DApps involves transactions between the betting service operator and each individual bettor. BitVM could potentially enable two-way contracts, in which bettors place their bets with the operator and get paid or charged based on the outcome of the sports games and other events they punt on.

BitVM’s smart contract–like functionality can also be used to power certain 

 (DeFi) apps. A potential use case for the computational engine would be apps in which a chain of transactions between just two parties is enough to settle a contract. One example of such an app is a 

 model. Under this model, two parties — a seller and a buyer — would enter into a contract to swap cryptocurrencies. 

However, the lack of multi-party functionality within BitVM might make some of the more complex DeFi apps — for instance, automated market maker (

)–based DEXs — challenging to implement natively. AMM DEXs heavily utilize 

, repositories from which many users deposit funds and get paid a share of the trading fees generated from the pools. As such, these exchanges require fairly complex multi-party implementations.

Environmentally-Friendly Payment Solutions

Being a massive consumer of energy, the Bitcoin blockchain isn't among the first choices of companies focusing on low environmental impact. BitVM’s efficient, low-footprint processing model enables transactions that use very little energy. The engine, therefore, can be used for green payment solutions. For instance, in the agricultural sector, the term "green payments" refers to payments (made to producers) that create a positive environmental impact. BitVM could be used to develop solutions that facilitate these agricultural payments.

BitVM has many conceptual similarities to the 

 (EVM), the computational engine that powers the Ethereum blockchain. EVM is a critical component of Ethereum and enables smart contracts and DApps on the blockchain. 

Similar to BitVM, EVM is a Turing-complete system, a property that allows developers to create apps with sophisticated functionality. However, BitVM and EVM also have several distinctions. The key differences between these two computational engines are as follows:

BitVM’s core concept of Turing-complete Bitcoin contracts is nothing short of revolutionary. However, despite the engine’s merits and promise, it has certain limitations. One major limitation of BitVM is its inability to handle multi-party transactions, which restricts the use of more complex computations and solutions. As modern DApps grow more complex, multi-party functionality becomes vital.

Another limitation of BitVM arises from the heavy off-chain processing load (which, curiously enough, is one of its key merits). While off-chain processing is excellent for reducing the load on the Bitcoin network, it gives rise to two potential issues, the first of which is the resulting load placed on off-chain resources. Large-scale transactions and apps might place heavy demand on off-chain computing resources, which could significantly diminish BitVM’s environmental and efficiency advantages.

The second issue deals with transaction security. Bitcoin’s built-in cryptographic security mechanism has an excellent track record of protecting the network from hacker attacks and fraud. Moving a large proportion of transaction processing off-chain inevitably introduces more weak points to the overall data security framework.

Some of BitVM’s limitations might be addressed by combining the engine with a Bitcoin 

 protocol, which runs over the Bitcoin blockchain, is capable of supporting more complex, multi-party smart contracts.

Turing-complete Bitcoin contracts offered by BitVM are a revolutionary concept with the potential to fundamentally change the landscape of the cryptocurrency industry. Various DApp niches, from DeFi and payments to betting and supply chain solutions, might profoundly benefit from utilizing the computational engine.

BitVM is also a major undertaking aimed at drawing in the multimillion army of BTC holders to participate more actively in the crypto industry beyond mere asset transfers and storage. At the moment, 

 have non-zero balances. This represents a vast potential for developers utilizing BitVM.

The highly promising computational engine is now in the early stages of its conceptual development. Its white paper was just released in early October 2023, and there’s going to be a period of time during which the developer community “warms up” to the concept of Turing-complete Bitcoin contracts. Over the following few months, we’ll all likely hear more about BitVM. Stay tuned!

What Is BitVM and How Is It Different From EVM?

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards