Veda

Veda is a Bitcoin smart contract extension that appeared in 2023, treating Ordinals inscriptions as transaction requests and executing them in an offchain EVM that maintains state. A user signs an EVM-format transaction with a Bitcoin key, inscribes it into a Bitcoin block, and Veda nodes scan the chain and execute the requests in order.

Bitcoin therefore serves as both the pending transaction pool and the data availability layer: every state transition can be replayed from Bitcoin blocks, so anyone can reconstruct the full EVM state without additional trust assumptions. Throughput is bounded by Bitcoin's block interval and inscription bandwidth and stays roughly in step with the base chain, which places Veda closer to adding smart contract capability to BTC assets than to speeding up Bitcoin itself.