BitcoinOS (BOS) is set to integrate its Grail bridge with B² Network’s mainnet this year, enabling trustless bridging of BTC and Bitcoin assets using zero-knowledge proofs. This collaboration aims to secure over $110 million worth of assets on B² Network, a modular Bitcoin Layer 2 solution.
BOS’s integration will leverage the ZK-based BitSNARK verification protocol, enhancing security and scalability for Bitcoin-based DeFi applications. B² Network, which offers EVM compatibility and faster transaction speeds than Bitcoin’s Layer 1, will benefit from BOS’s capabilities to provide institutional-grade asset security at Bitcoin’s scaling and application layer.
Edan Yago, CEO and Co-founder of BOS stated that this partnership signifies industry recognition of their work in bolstering a growing ecosystem of Bitcoin rollups.
“We are enabling developers to build everything from true Bitcoin Layer 2s and trustless bridges to fully programmable tokens on Bitcoin,” he said.
Arwen, Chief Ecosystem Officer of B² Network, commented that BitcoinOS helps further their mission to securely scale Bitcoin without compromising its Proof-of-Work security. “Together, we will enable institutions and liquidity providers to comfortably deploy BTC to DeFi,” Arwen added.
This partnership is significant for Bitcoin-based DeFi, as B² Network provides liquidity for other ecosystems like Aptos. Its integration with BOS offers enhanced security and efficiency in cross-chain transactions. BOS’s breakthrough in using zero-knowledge proofs allows developers to embed data from other blockchains directly into Bitcoin transactions. The company verified the first ZK proof on Bitcoin at block 853626, demonstrating the possibility of building roll-ups.
Per documentation from B² Network, the network employs ZK-Rollup technology with zkEVM to execute user transactions within the Layer 2 network and generate related proofs. Its architecture consists of a roll-up and a data availability layer, including decentralized storage and B² nodes that perform functions like incentivizing storage, validating proofs, and providing sequencer services. The network claims to be over 50 times cheaper and 300 times faster than Bitcoin’s Layer 1.
B² Network aims to transform Bitcoin into a versatile platform supporting various applications, including DeFi and NFTs. Its mission is to build a premier Bitcoin Layer 2 network and revive the builder culture in the Bitcoin ecosystem.
BitcoinOS is an operating system that adds smart contract functionality to Bitcoin. It allows developers to unlock Bitcoin’s potential for high-throughput, secure, and programmable transactions while preserving the network’s decentralization and resilience.
The integration between BOS and B² Network is scheduled to be completed by the end of 2024.
The post BitcoinOS and B2 Network to secure $110M in Bitcoin DeFi assets in 2024 appeared first on CryptoSlate.
This articles is written by : Fady Askharoun Samy Askharoun
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