TLDR:
- BitVM creator, Robin Linus, criticizes Citrea’s marketing for being misleading and full of overclaims.
- Citrea, backed by Galaxy Ventures, aims to build an execution layer atop the Bitcoin blockchain using zero-knowledge proofs.
Article Summary:
Robin Linus, the creator of BitVM, has publicly criticized Citrea’s marketing strategy, alleging that it is deceptive and misrepresentative. Citrea, a project focused on bringing Ethereum-like smart contract functionality to Bitcoin and supported by Galaxy Ventures, recently secured $2.7 million in a seed funding round. Linus claims that Citrea’s promotional materials contain exaggerated statements and inaccuracies, which can mislead investors.
In response to the allegations, Orkun Kılıç, co-founder of Chainway Labs, the team behind Citrea, defended the project’s marketing approach. Kılıç emphasized that Citrea’s marketing accurately reflects its technological advancements and expertise in zero-knowledge technology.
Citrea’s main goal is to enhance the scalability of the Bitcoin ecosystem by implementing zero-knowledge proofs. These cryptographic methods allow parties to verify certain information without disclosing sensitive data. Citrea aims to leverage this technology to create a layer on top of the Bitcoin blockchain, enabling more efficient and scalable transaction processing.
With significant backing from investors like Galaxy Ventures, Citrea’s vision aligns with the growing interest in decentralized finance (DeFi) applications on the Bitcoin network. By introducing Bitcoin-based dApps, Citrea aims to tap into the potential $225 billion market in decentralized applications within the Bitcoin ecosystem, challenging Ethereum’s dominance in the DeFi landscape.
The dispute between BitVM creator Robin Linus and Citrea underscores the competitive and rapidly evolving nature of the cryptocurrency market, where innovative projects strive to address scalability issues and expand the functionality of leading blockchain networks.
