Highlayer

Few things that I learnt by building Highlayer: - BitVM is interesting, but only a patch to a deeper problem and it has too many tradeoffs. - Real covenants, like OP_CAT, could be implemented, but it will take time before they are accepted, if ever. There are still significant risks associated with these covenants that are currently under active research. If they finally get implemented, BitVM will be pretty much useless and any Bitcoin Layer 2 will be able to benefit from them. - It would be quite easy to fork an EVM layer 2 stack and add some marginal improvement, but this is not the way. We chose a more challenging path with Highlayer by designing our own VM, data availability system, and parallelization mechanisms. We believe these efforts will lead to meaningful improvements for the Bitcoin ecosystem.