CoinGeek Backstage With Xiaohui Liu: Bitcoin Is A Well-Oiled Machine No Other Network Can Match

It’s been 13 years since Satoshi Nakamoto launched Bitcoin, and since then thousands of projects have sprung up promising to be better, more efficient, faster, and cheaper than Bitcoin. None lived up to their promise, and as Xiaohui Liu told CoinGeek Backstage, none of them will ever become better than Bitcoin.

Speaking to CoinGeek’s Jon Southurst on the sidelines of the BSV Global Blockchain Convention, Liu noted, “Bitcoin’s original design was pretty good…it’s like a well-oiled machine. You can change some screws and add rings and make it look fancy, and I think a lot of blockchain does that. But the main driver is still Bitcoin.

Liu, the CEO of sCrypt, was a big hit at the Dubai event, with his presentation on the smart contract transpiler earning him a well-deserved standing ovation. With the transpiler, Solidity developers can easily transfer their applications to Bitcoin SV to take advantage of its infinite scaling and very low fees.

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Liu believes transpiling it is the critical first step to winning over Ethereum users, but he is under no illusions that they will all jump ship immediately. Some have spent years developing their projects on Ethereum, and moving will take quite a bit of time. However, with others who have switched from Ethereum to BSV, such as CryptoFights, showing what a good move it is, it’s only a matter of time.

With the transpiler, Liu wanted to make it as easy as possible for developers to use. He worked with partners such as Vaionex, nChain, and the BSV Blockchain Association on the project, which they developed for months.

With sCrypt, Liu has been at the forefront of proving that Bitcoin is Turing complete. Just a few years ago, whenever Dr. Craig Wright made this claim, BTC maximalists such as Nick Szabo would laugh at him for justifying the need for Sofa 2s or Sofa 1 alternatives like Ethereum.

However, since then, Dr. Wright has been vindicated, and as Liu told CoinGeek Backstage, today, even top anti-Bitcoin developers can agree that Satoshi integrated Bitcoin to support smart contracts.

Watch: Presentation of the BSV Global Blockchain Convention, Smart Contracts and Computation on BSV

New to Bitcoin? Discover CoinGeek bitcoin for beginners section, the ultimate resource guide to learn more about bitcoin – as originally envisioned by Satoshi Nakamoto – and blockchain.

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