# Project Research and Sharing
After watching the BitVM technical progress report, I am filled with anticipation for BTC DeFi 🤩
Currently, for many Bitcoin holders, a major pain point is the inability to "earn interest" and participate in "DEFI". They are reluctant to use those "wrapped Bitcoins" due to many shortcomings in terms of decentralization, security, and Bitcoin's native properties.
BitVM has provided a good direction in addressing the limitations of the Bitcoin network (such as high costs and low efficiency).
Currently, BitVM3 is attempting to shorten fraud proof times and improve scalability and capital efficiency using techniques like garbled circuits, reusable sub-circuits, and TOOP, while maintaining Bitcoin's trust-minimized security.
Of course, the standout project here is still BOB, the Hybrid L2 mixed model. It is supported by Bitcoin's security while also leveraging the functionalities of other blockchains (like Ethereum). These components are securely connected through BitVM, forming a platform that is both efficient and reliable, especially suitable for DeFi applications. 👍
BTC DeFi, come on, let my BTC have babies 👶😂 👍 @Build_on_bob_CH @build_on_bob #BTCDEFI
BitVM is gradually being realized!
The second phase progress report is hot off the press:
> Major breakthrough in bitvm3 (cost reduced by a thousand times!)
> Bridge solution upgraded again, huge leap in capital efficiency!
> See how hybrid chains like BOB can play with Bitcoin's large-scale access to DeFi
Full report here ↓
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