Conclusion

Bison Network has taken a significant step forward in enhancing the functionality of Bitcoin by introducing smart contract capabilities. The evolutionary process of Bison Network aims to overcome the limitations of Bitcoin's Layer-1, enabling more complex application scenarios while maintaining the network's decentralization and security.

Bison Network currently utilizes MPC nodes and multi-signature vaults, offering a tested and straightforward architecture that is easy to implement. However, it relies on the trustworthiness of the vault controllers, which may pose potential security concerns.

With the implementation of DLC-upgrade, the network offers a higher level of security and trustlessness by eliminating the need to trust external third parties. However, it still faces challenges such as long withdrawal times in failure scenarios and dependency on oracles for state changes.

In the future, Bison Network aims to explore new computing paradigms to enable Turing-complete contracts on Bitcoin, such as BitVM. This approach provides the higher level of security and flexibility, reducing dependency on continuous cooperation from bridge operators and allowing complex stateful computations without changing Bitcoin’s consensus rules. However, it increases the complexity of managing collateral and withdrawal contracts and requires rigorous testing for reliability.

Bison Network is committed to enhancing Bitcoin's functionality while ensuring its security and decentralization. As Bison Network continues to evolve and innovate, it is expected to drive the future growth of Bitcoin and contribute significantly to the blockchain ecosystem.