SatoshiVM (SAVM)

Use Cases of SatoshiVM

SatoshiVM supports several key use cases that leverage its unique integration of Bitcoin with the Ethereum Virtual Machine (EVM) ecosystem:

• Inscription: SatoshiVM enables the creation and management of inscriptions on the Bitcoin network, expanding its utility beyond traditional transactions.
• DeFi: By bridging Bitcoin with EVM, SatoshiVM opens up new possibilities for decentralized finance (DeFi) applications, allowing developers to build and deploy smart contracts that utilize native BTC as gas.
• EVM Compatibility: This feature allows users to interact with SatoshiVM similarly to how they would with Ethereum, and developers can seamlessly build on top of SatoshiVM, mirroring their Ethereum development experience.
• ZK Rollup Technology: SatoshiVM bundles multiple transactions into a consolidated batch, validating them on Bitcoin as a single transaction, ensuring a level of security equivalent to Bitcoin and ensuring data validity and availability.

Key Features

• EVM Integration: SatoshiVM integrates Bitcoin with the EVM ecosystem, enabling the development of smart contracts and decentralized applications (dApps) that can utilize native BTC.
• ZK Verification: The platform uses Taproot scripts to verify the execution of arbitrary functions without modifying the consensus rules of Bitcoin, ensuring the validity of transactions within SatoshiVM.
• Native BTC as Gas: SatoshiVM employs BTC as the gas for EVM transactions, mirroring the operational dynamics of Ethereum's Layer 2 solutions.

Supported dApps

• Wallets: MetaMask, UniSat Wallet
• Decentralized Exchanges: Savmswap
• Inscriptions: SARC-20

Additional Information

• Website: https://www.novaresearch.io/researches/satoshivm
• Ecosystem: SatoshiVM aims to create a robust ecosystem by integrating Bitcoin's security with EVM's programmability, unlocking new potential for the advancement of this emergent ecosystem.

Pros of SatoshiVM

• Enhanced Security: SatoshiVM leverages the robust security of Bitcoin while integrating the versatility of the Ethereum Virtual Machine (EVM). This combination ensures that transactions benefit from Bitcoin's security while offering the flexibility of EVM for decentralized applications.
• EVM Compatibility: The EVM compatibility of SatoshiVM provides a familiar environment for developers and users, similar to Ethereum's ecosystem. This makes it easier for Ethereum developers to transition and expands Bitcoin's functionality and application ecosystem.
• Efficient Transaction Processing: SatoshiVM uses Zero-Knowledge (ZK) Rollups to aggregate multiple transactions into a single batch, which is then validated on the Bitcoin network. This significantly reduces the data processed on the main chain, enhancing transaction throughput without compromising security.
• Advanced On-Chain Verification: SatoshiVM introduces an innovative method for validating the execution of arbitrary functions on Bitcoin, streamlining Layer-2 block verification and reducing the need for multiple transactions.
• Prevention of Transaction Reordering: The integration of SVMZK within SatoshiVM prevents transaction reordering by the sequencer, enhancing the robustness and reliability of the blockchain.
• Transparent and Secure Verification: The protocol ensures data transparency by making transaction data accessible on the Bitcoin main network, reinforcing trust and reliability. It also enables third-party verification, providing an additional layer of transparency and trust.

Cons of SatoshiVM

• Complexity: The integration of EVM with Bitcoin's infrastructure and the use of advanced technologies like ZK Rollups and Taproot may introduce complexity for users and developers unfamiliar with these technologies.
• Dependence on Bitcoin: SatoshiVM's reliance on Bitcoin for security and validation means that any issues with the Bitcoin network could potentially impact SatoshiVM's functionality.
• Limited Adoption: As a relatively new project, SatoshiVM may face challenges in gaining widespread adoption and acceptance within the broader cryptocurrency community.

Founders of SatoshiVM

The founders of SatoshiVM are MacnBTC and their team, who are actively developing the project and addressing any controversies.

Investors in SatoshiVM

SatoshiVM has various investors and partners involved in its development and growth. Here are some key points about the investors:

• Token Distribution: The largest portion of SatoshiVM tokens, 36.5%, is allocated to ecosystem development, indicating a strong focus on fostering a dynamic environment for users and developers.
• Bootstrapping: 15% of the tokens are allocated for bootstrapping the project, ensuring it has the resources to scale and innovate.
• Partnerships: SatoshiVM has partnerships with entities like Bounce Finance, APE Terminal, MUBI mining pool, and BSSB mining pool, reflecting its commitment to collaboration and community engagement.
• Public and Private Rounds: The project has conducted public and private rounds, with specific allocations and vesting periods for different groups, including the public, community, and team members.
• KOL Involvement: SatoshiVM has also been involved with Key Opinion Leaders (KOLs) in its early stages, which contributed to its initial popularity but also led to controversy and market fluctuations.

Key Investors and Partners

• Bounce Finance: Involved in the token issuance and has a notable allocation of tokens.
• APE Terminal: Participated in the IDO (Initial DEX Offering).
• MUBI Mining Pool: Received a smaller allocation of tokens.
• BSSB Mining Pool: Also received a smaller allocation of tokens.

Token Metrics

• Total Supply: 21,000,000 SAVM tokens.
• Circulating Supply: 7,353,272 SAVM tokens as of the latest data.
• Market Cap: $7,465,413.041, indicating the current value of the project.

Halal Status of SatoshiVM

No, the halal status of SatoshiVM is not universally agreed upon. The reason is that Islamic scholars have varying opinions on whether cryptocurrencies align with Islamic financial principles. Some consider them halal if they are used in a socially responsible, transparent manner and avoid excessive uncertainty (gharar) and gambling (maysir). Others argue that they are haram due to potential fraud, lack of regulation, and association with illegal activities.

Key Considerations:

• Transparency and Regulation: Some scholars emphasize the need for cryptocurrencies to be backed by real assets or regulated by a central authority to be considered halal.
• Social Responsibility: The use of cryptocurrencies in a manner that avoids speculative trading and adheres to Islamic law is crucial for their halal status.
• Scholarly Opinions: Different scholars have different views, ranging from considering cryptocurrencies as halal to deeming them haram, highlighting the need for personalized advice from knowledgeable Islamic finance advisors.