SatoshiVM is an upcoming tailored blockchain platform that enhances Layer-2 block verification on Bitcoin, enabling the precise execution of arbitrary functions without altering the Bitcoin protocol. It features integration with the Ethereum Virtual Machine (EVM), allowing Bitcoin to be used for EVM transactions and fostering asset issuance and application development within the Bitcoin ecosystem.
What sets SatoshiVM apart is its simplicity and compatibility with the EVM, combined with advanced features like off-chain zero-knowledge proofs and a three-layer structure (Settlement, Sequencing, and Proving layers) for efficient and secure transaction processing. This makes SatoshiVM a significant advancement in blockchain technology, particularly in augmenting Bitcoin’s capabilities and interoperability.
The $SAVM testnet has officially been launched, and engaging with this testnet could potentially lead to receiving SAVM tokens through an airdrop upon the launch of the mainnet. In this guide, we will walk you through the necessary steps and activities to undertake on the SatoshiVM testnet, positioning you advantageously for potential rewards.
What is SatoshiVM?
- Enhanced Bitcoin Verification: SatoshiVM is a tailored blockchain platform that improves the way Bitcoin verifies Layer-2 blocks, making this process more precise without changing Bitcoin’s core protocol.
- Combines Bitcoin and Ethereum Features: It allows Bitcoin to work with Ethereum’s system, enabling users to execute Ethereum-like transactions using Bitcoin and to create new applications and digital assets on the Bitcoin network.
- Efficient and Secure Processing: The platform uses advanced techniques like zero-knowledge proofs to verify transactions efficiently and securely, organized into three distinct layers for streamlined operations.
- User-Friendly Design: Designed with simplicity in mind, SatoshiVM is easy to use and develop on, making it approachable for everyday users and developers alike, much like Ethereum.
- Improved Security and Functionality: SatoshiVM focuses on strengthening Bitcoin’s security and expanding its capabilities, particularly by ensuring transactions are processed in order and by effectively managing transaction data and validations.
What is the hype about SatoshiVM?
The excitement surrounding SatoshiVM is largely due to the recent launch of its testnet. Engaging with this testnet presents an opportunity for users to potentially receive $SAVM tokens once the mainnet goes live. This prospect has generated significant interest, as there have been instances in the past where users who participated in blockchain testnets were substantially rewarded for their early involvement.
SatoshiVM Testnet Guide: How to use the SatoshiVM?
Step 1: Creating a Unisat_wallet:
- Install the Chrome Extension from the official website: unisat.io.
- Create a new wallet.
- Keep the recovery phrase safe.
- Choose the “Native Segwit” Bitcoin wallet.
- Access Settings and switch the Network option from “LIVENET” to “TESTNET“.
Step 2: Claiming and Bridging Testnet tBTC Tokens.
- Visit the Bitcoin Faucet site: Click here.
- Enter your Bitcoin address from unisat.io
- Increase the amount to the maximum. See the image below.
- Submit your Bitcoin address (from Unisat.io) to receive tBTC (note that it could take around 10 to 20 minutes for the tokens to appear).
- I suggest claiming 2-3 times, as the transaction fees are relatively high, requiring approximately 0.00012 BTC per transaction for gas costs.
- Transfer tBTC to the SatoshiVM Testnet (expect a waiting period of approximately 30 minutes).
Step 3: Add Satoshi VM Testnet on Metamask
Step 4: Get Sepolia ETH tokens
- Navigate to the Sepolia Faucet at sepoliafaucet.com.
- Input your wallet details (from Metamask or other EVM-compatible wallets) to obtain Testnet Sepolia ETH tokens.
Step 4: Claim and Transfer tSAVM from Ethereum to SatoshiVM.
- Go to this bridge and connect your Metamask and Unisat wallet.
- Collect tSAVM through the “tSAVM Faucet.” (check the image below).
- Move your tSAVM from Ethereum Sepolia to the SatoshiVM Testnet using the same bridge.
- Deposit and withdraw the same from one chain to the other to increase the volume. Keep repeating it 1 to 2 times a day.
That’s it. There are no dApps on the SatoshiVM network as of now, but we expect a dex and a lending protocol soon. So keep checking and interact accordingly.
Bonus: Tips to Increase $SAVM Airdrop
To maximize your potential airdrop rewards, consider these strategies:
- Engage in bi-directional transfers of tBTC and tSAVM to accumulate more bridging volume.
- Begin your interactions with the Testnet as early as possible, as typically, the earliest participants receive the most substantial rewards.
Stay alert for new features like swaps and inscriptions that are expected to be introduced on the Testnet in the upcoming days or weeks, and make sure to engage with these new functionalities.
Now read the other guides:
- Berachain Airdrop Guide (FREE)
- Cosmos Ecosystem Airdrop Guide 2024
- Parcl Airdrop Guide 2024
- DOP Airdrop Guide
- Upcoming Airdrop Opportunities in the Solana Ecosystem in 2024
- Check all the airdrop Guides here
How much can you make with SAVM airdrop?
Currently, there is no official information regarding the SAVM airdrop. This guide is speculative, anticipating the possibility of such an event. If an airdrop does occur, it’s estimated that participants might receive around 300 to 500 USD. Since the tasks can be completed in less than 15 minutes, it might be a good opportunity to consider.