Stacks Working Group's BitVM Research and $500K Funding by Stacks Foundation

Stacks Foundation has initiated an R&D program to explore BitVM, a computational layer based on Bitcoin. The study, led by the Stacks Working Group, aims to accelerate the development of BitVM and its potential in improving trust assumptions on the network. The foundation has allocated an initial $500,000 to support the group, with further funding available based on progress. Additionally, substantial investment is expected in research and development, signaling the promising future of BitVM in the Bitcoin ecosystem.