Bi-weekly Dose of Bitcoin L2 #June 26th, 2024
Here’s a quick recap to ensure you’re up to speed in Bitcoin Layer 2 space!
Hi friends,
In this ever-evolving market landscape, I find it crucial to maintain a resilient and adaptive mindset. This is perfectly encapsulated by the Bitwise CEO’s statement: “Bitcoin, it’s time to move past the ‘Digital Gold’ narrative as you transition into the mainstream scene.” This statement signifies the need to evolve our understanding and narrative of Bitcoin from being just a digital equivalent of gold to recognizing it as a legitimate and mainstream financial entity.
As we navigate through these exciting times in the cryptocurrency market, it’s important to stay motivated and persistent in our endeavors. So let’s keep on hustling, embracing changes, and striving for success in this dynamic digital currency landscape!
Top Stories
Bison Network launched its Testnet2, which is prioritizing EVM support.
By supporting EVM and Solidity, Bison Network will provide developers with a familiar environment, allowing them to easily write their logic and deploy dApps on the Bison Network.
Map Protocol updated the roadmap.
MAP Protocol is a Bitcoin layer-2 as well as a peer-to-peer omnichain network focused on cross-chain interoperability.
Meson Finance launched ccBTC, which is pegged 1:1 to BTC assets issued on CKB mainnet.
Nubit announced Nubit Alpha Testnet Phase 2: Light Node Quest
Each light node continuously performs Data Availability Sampling based on KZG-based Namespaced Merkle Trees and validity proofs, enhancing the security and scalability of Nubit.
Bitfinity Network is launching a new stable execution layer for developers.
It will sit alongside the testnet and will be directly upgraded to mainnet soon.
BounceBit released its 2024 product roadmap
The team will continue shipping products at a steady pace, prioritizing safety & usability.
- Fixed Yield
- Lending & Borrowing
- Derivatives
- & more
Here is only one funding news within Bitcoin L2 space: Ordinox Labs($1M).
Ordinox Labs: Enabling DeFi on Bitcoin using native liquidity pools powered by Cosmos SDK.
New Protocol Intro
A new Bitcoin L2 is coming. Bitcoin Lightning hacker Burak introduces new layer 2 ‘Brollups’.
The Bitcoin developer famous for exploiting a bug in the Lightning Network, causing it to issue an emergency update in 2022, is working on a new Bitcoin layer 2 aimed at bringing more decentralized finance use cases to Bitcoin.
Bitcoin developer “Burak” — who also created a Lightning Network competitor called Ark Protocol last year — has introduced “Brollups.” Brollups will aim to support more than 90% of use cases in DeFi when it eventually launches.
Top Opinion
From SHINOBI: Nostr Wallet Connect: A Bitcoin Application Collaboration Layer
Going into the future of Bitcoin adoption and development there is one issue of software interacting that is coming to the forefront of roadblocks developers must deal with: compatibility.
Nostr Wallet Connect is a protocol making the attempt at being a truly generalized mechanism for fulfilling this need. When seeking to embed Lightning payments into Nostr, all of these complexity issues arriving from how to do it cropped up.
CN Version: Nostr Wallet Connect：一种比特币应用协作层
From Cobo：BTC 减半后的新经济学剧本
在本期AMA中，四位嘉宾一致认为，**无论是短期、中期还是长期，BTC 生态都潜藏着诸多机遇。**那么，该如何捕捉这些机会，承接 BTC 生态溢出的需求？各位嘉宾分别从自身背景和产品切入，展开了对 BTC 创业赛道突破口和机遇的探讨，并对未来潜力和机会进行了乐观展望。
From Momir: Three Key Design Decisions for Bitcoin Layer 2 Solution.
This thread covers viewpoints below:
- How do you bridge BTC?
- How and to what extent do you inherit Bitcoin’s security?
- How do you handle the data availability (DA) issue?
Valuable Research
From Messari: Understanding Nervos Network (CKB): A Comprehensive Overview
Key Insights Nervos Network expands on Bitcoin’s core technological primitives with a scalable Layer-1 blockchain that enables Layer-2 support for Bitcoin. To improve Bitcoin’s arbitrary programming limitations, Nervos Network leverages a custom model (Cell Model) for state storage and a custom virtual machine (CKB-VM) for transaction execution. Nervos extends Bitcoin’s usability with RGB++, an asset issuance protocol based on the original RGB protocol that aims to position the L1 as Bitcoin’s execution and data availability layer. Since the RGB++ protocol launched on the CKB mainnet, the network has seen a resurgence in transaction activity and nearly 400,000 new addresses in April, an 181% MoM increase compared to March. Work is underway to integrate a payment channel network with the Lightning Network, making CKB more scalable and applicable to various blockchain applications.
From 极客web3：走近BTC：理解BitVM所需的背景知识（1）
近期Delphi Digital发布了题为《The Dawn of Bitcoin Programmability: Paving the Way for Rollups 》的比特币二层相关技术研报，系统的梳理了和比特币Rollup有关的核心概念，如BitVM全家桶、OP_CAT和Covenant限制条款、比特币生态DA层、桥以及Bitlayer、Citrea、Yona、Bob等四大采用BitVM的比特币二层。
在Delphi研报基础上，极客web3进行了展开式的深入挖掘，尝试让更多人系统的理解BitVM等技术。
From Bing Ventures:“ZKP+Bitcoin”会带来什么？
关键要点
- 零知识证明可以提高比特币的隐私性，因为它可以隐藏交易的细节，如金额、地址、输入和输出等，同时保留交易的有效性和完整性，这样就可以防止第三方追踪以及分析用户的交易活动。
- 零知识证明可以提高比特币的可扩展性，因为它可以减少交易数据的大小和验证时间。 例如，使用ZK-STARKs或其改进版本就可以将多个交易打包在一起，并使用零知识证明来验证它们，从而节省空间和时间。
- 零知识证明可以提高比特币的创新性，因为它可以支持更多的功能和应用。 例如使用ZK-SNARKs，就可以实现更多的逻辑和计算，在不暴露信息或增加开销的情况下执行更复杂和更灵活的合约。
- 最终，零知识证明将使比特币更加无需信任和去中心化，符合其核心价值观。随着技术的不断发展和改进，比特币和ZKP的潜力也将不断得到挖掘。
From Sovryn: Bitcoin Bridges: What are they & How Do They Work?
In this guide, Sovryn will discuss Bitcoin bridges and their role in the Bitcoin DeFi ecosystem.
Jobs in the space
An valuable collection for you:
OK, that’s all for this week.
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