Galaxy

Bitcoin

DeFi

when

Bitcoin Virtual Machine

Bitcoin Virtual Machine (BVM), a rollup-as-a-service provider on Bitcoin, has launched its analytics and research platform, Bitcoin Heartbeat.
The new platform is focused on rollup scaling solutions for Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>) to offer transparent and verifiable real-time data on Bitcoin layer-2 (L2) and layer-3 (L3) rollup projects.
According to a press release shared with Cointelegraph, Bitcoin Heartbeat aims to enable users to track and understand “the evolving Bitcoin ecosystem.”
Speaking with Cointelegraph, the BVM team explained that although Bitcoin has “the brand for mass consumption,” its utility beyond “a store of value is limited.”
<blockquote data-ct-non-breakable="true">
 “We don’t see DApps on Bitcoin like on Ethereum, Solana, etc. [...] largely due to technical constraints. Bitcoin needs rollups with fast speed and low tx fees to power Bitcoin consumer apps that use BTC.”
</blockquote>
Related: <a href="https://cointelegraph.com/news/no-code-blockchain-deployment-bvm-studio" rel="noopener noreferrer nofollow">New tool enables ‘No Code’ blockchain deployment</a>
<h2 data-ct-non-breakable="true" id="bitcoin-community-orientation">Bitcoin community-orientation</h2>
The press release explained that the new platform seeks to address the gap experienced by analysts and the broader community when evaluating rollup solutions’ effectiveness.
<blockquote data-ct-non-breakable="true">
 “Many talented teams have been working on scaling Bitcoin, but it can be challenging for analysts and outsiders to evaluate the effectiveness and real-time operations of these solutions.”
</blockquote>
Bitcoin Heartbeat will focus on “liveness metrics” to help users gauge the “activity and performance” of L2 and L3 rollup solutions on the Bitcoin network.
Related: <a href="https://cointelegraph.com/news/bitcoin-layer-2-rollups-sustainability-challenges" rel="noopener noreferrer nofollow">Galaxy Research warns of sustainability issues for Bitcoin layer-2 rollups</a>
<h2 data-ct-non-breakable="true" id="verifiability-and-transparency-elements">Verifiability and transparency elements</h2>
The press release explained that users of the new analytics and research platform can explore project websites and block explorers directly from the dashboard.
“3700,” the head developer of the BVM team, stated that Bitcoin Heartbeat is the team’s “contribution to the collective effort of scaling Bitcoin.”
<blockquote data-ct-non-breakable="true">
 “The more readily available and verifiable this data is, the better we can understand the progress we’re making collectively in scaling Bitcoin.”
</blockquote>
Related: <a href="https://cointelegraph.com/news/growing-defi-with-layer-3-solutions-how-aggregated-rollups-can-help" rel="noopener noreferrer nofollow">Growing DeFi with layer-3 solutions: How aggregated rollups can help</a>
<h2 data-ct-non-breakable="true" id="bvm-studio-no-code-blockchain-deployment">BVM Studio “no-code” blockchain deployment</h2>
On July 17, the team behind Bitcoin Heartbeat introduced BVM Studio, a new tool that simplifies blockchain deployment with a no-code solution to make blockchain more accessible.
The tool provides a visual programming editor interface similar to Lego building blocks. It allows users to drag-and-drop blocks to deploy self-tailored blockchains without coding knowledge.
The BVM team told Cointelegraph that although “it may not offer the same depth of customization as fully custom-coded solutions,” it aims to continuously add new modules and options to improve flexibility.&nbsp;
Magazine: <a href="https://cointelegraph.com/magazine/china-crypto-ban-investors/" rel="noopener noreferrer nofollow">How Chinese traders and miners get around China’s crypto ban</a>

New platform tracks Bitcoin rollup performance in real time

Table of Contents

Cointelegraph

Other articles published on Aug 9, 2024

Coinbase Challenges CFTC Proposal on Event Markets

Bitcoin Acquisitions as Metaplanet Secures $6.8M Loan for Major Investments

Four Arrested in Kyiv for Alleged Kidnapping and Murder of Bitcoin Investor: Details

Putin Greenlights Crypto Mining In Russia 2 Months After Trump Vowed To Mine All Remaining Bitcoi...

Bitcoin ETF Options coming soon? SEC, CBOE make key moves

Bitcoin.com Launches V-Card Debit Card In Self-Custody Bitcoin and Crypto DeFi Wallet App (9 Aug)

Join our free newsletter for daily crypto updates!