Bitcoin 2

Bitcoin 2 is an experimental fork of the Bitcoin network with smart contract support and real time settlement.

Bitcoin development has been somewhat stagnant since the SegWit upgrade in 2017. This is somewhat by design. Bitcoin is currently primarily being used as a store of value. For that use case no new functionality is necessary. However in 2024, there are more use cases for blockchains than just digital stores of value. Bitcoin 2 adds that functionality to Bitcoin.

What's changed?

Bitcoin 2 is an EVM chain

This will give developers the opportunity to deploy smart contracts on Bitcoin 2. Being an EVM chain allows Bitcoin 2 to leverage all of the existing blockchain infrastructure built around Ethereum. Bitcoin 2 users can use EVM-chain wallets like Metmask and the Ethereum development community can deploy smart contracts to Bitcoin 2 using their favorite development tools.

Bitcoin 2 settles in real time.

Bitcoin 2 has a new validation process to enable a better user experience when interacting with the protocol. Users send transactions to block proposers who include transactions in blocks in real time. That saves users from having to wait to see if their transition will be included in a block or not. Transactions are then validated after the fact in 10 minute increments like they were in Bitcoin 1.

Transaction fees are paid to token holders not miners

As of 2024 Bitcoin users pay miners about $2M in fees every day. That money could be going to token holders instead. When Satoshi designed the Bitcoin protocol, digital scarcity had not been bootstrapped yet. Now that digital scarcity exists we can pay users for their digital scarcity instead of paying miners for hash power. Turning Bitcoin into revenue generating asset makes holding the tokens more lucrative than Bitcoin 1 tokens.

3. The software is rewritten from the ground up

Bitcoin the software is not Bitcoin the token or Bitcoin the idea. The core node has been rewritten from the ground up in Rust. It has also been massively simplified where possible.

Getting started

Use the Migration Tool to migrate your Bitcoin 1 from a Ledger to Metamask. Use the Ethereum Bridge to trade your tokens on Ethereum while Bitcoin 2 is in the bootstrap phase.