Intuition
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The whole architecture is geared towards achieving 2 actions on-chain:
Map a bitcoin address to a BitcoinPod contract
Remap the value of bitcoin to an application in the AppRegistry
This design eliminates the need for custodial intermediaries and bridges, addressing long-standing challenges in Bitcoin integration. Intuitively, BitcoinPod can be deployed on other chains as well directly, making it a multi-chain remap. Though BitDSM only support Ethereum L1 at the moment.
BitDSM provides unparalleled flexibility by not enforcing a specific Bitcoin script, validation mechanism, or slashing condition. Instead, it empowers applications to define their own custom verification logic tailored to their unique requirements. This design allows users to carefully evaluate and choose their preferred level of risk exposure before deciding to remap their Bitcoin to specific applications. By enabling this customizable approach, BitDSM ensures that both users and applications have the freedom to align security and functionality with their needs.