Developer Claims Bitcoin Rollups Harbor Potential to Elevate Transaction Speeds 10X
A newly published BitcoinOS whitepaper illustrates that its present scaling system is tamperproof to government attackers. The publication by a team of crypto developers reveals a detailed plan to facilitate transaction rollups on the Bitcoin network, a practice previously deemed impossible on the blockchain.
Rollups involve decentralized systems that enable off-chain bundling of crypto transactions before their settlement on-chain using data-efficient batches. The approach has historically been deployed as an Ethereum-based scaling solution.
Bitcoin Rollup Framework to Deliver Scaled Capacity
The developers of the proposed Bitcoin framework credit rollups to deliver scaled capacity. Edan Yago, who co-authored BitSNARK and Grail, considers the Bitcoin rollup framework to bring complete turing completeness to bolster Bitcoin functionality.
The accomplishment of turing completeness implies that Bitcoin could utilize smart contracts. Doing so will facilitate decentralized finance (DeFi) and applications running on other blockchains.
Yago expects the rollup to realize a 10X scale to sustain full Bitcoin security. A previous presentation at the onset of 2024 indicated that the Bitcoin rollup transactions will realize infinite scalability in speed and throughput.
Yago is behind the Bitcoin DeFi protocol Sovryn (SOV), which, in January, unveiled development on the Bitcoin rollup platform BitcoinOS. Compared to scaling proposals, BitcoinOS does not require hard and soft fork upgrades implemented on Bitcoin Core that evolves deliberately and resists change.
Yago’s whitepaper released last week presents two innovations – BitSNARK identified as a software library utilized to verify zkSNARKS on Bitcoin. zkSNARKS involve zero-knowledge cryptographic proofs applied in completed transactions that exclude other details.
BitSNARK comprises the core building block upon which the second innovation, Grail, runs. Grail involves a scalable implementation of BitSNARK that practically facilitates the creation of the Bitcoin rollup bridge.
The Grail bridge is set to allow blockchain users to move assets within layer-2 networks. The facilitation of movement between rollups makes it possible to use a near-trustless approach.
Bitcoin Rollup Design Guarantees Honesty in Bridges
Yago adds that Bitcoin rollup designs are similar to the Ethereum-based ZK and optimistic rollups. The developer profiled Bitcoin Rollups as the newly created beast, though using ZK proofs uniquely verified via challenge and response sequence applied to the optimistic rollups.
Yago clarified that moving Bitcoin (BTC) via BitcoinOS will retain the intermediary agents identified as operators to facilitate the procession of deposits and withdrawals within the bridge.
Yago indicated that the operators would monitor activities executed by counterparts to prevent the theft of users’ coins. Also, visibility will avoid the process of dishonest bridge transactions. Honesty from a single operator will sustain the system’s integrity.
Yago rules out the theoretical limit to participants within the decentralized operator. It allows entry and exit of members though guided by specific steps. Meanwhile, Sovryn revealed the ongoing creation of bridge to work efficiently from over 100 operators.
The upcoming rollup system involves an outgrowth from the BitVM framework that made it possible to compute on Bitcoin. However, BitSNARK is tailored to execute SNARK verification. It addresses practical limitations and inefficiencies witnessed in its predecessor in support of the Bitcoin rollup bridge.
Sovryn’s BitcoinOS to Plunge Sidechains into Obsolescence
The whitepaper illustrates that it offers magnitude improvement while halving the challenge-response length for computations desired by bridges.
The Grail bridge is set to address the limitations of BitVM bridges. Crypto developer Tyler Whittle warned that such bridges could lose all funds if the operators were compelled to process massive withdrawals that surpass the on-hand liquidity.
The whitepaper illustrates that Grail offers consistent capability to withdraw. In particular, it applies the fee market for the priority withdrawals, in addition to the capacity to scale operators through the dynamic membership to guarantee continued smooth operation.
Yago considers that when Sovryn’s BitcoinOS becomes functional, it could plunge rival sidechains and layer-2s, including Rootstock, Stacks and Liquid, to obsolescence. The developer explained that rollups have direct security and decentralized Bitcoin pegs that sidechains lack.
Yago indicated that the bridge is set to become decentralized to the extent that the government cannot compromise. The absolute design safeguards the system from state-level attackers.
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