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Bitcoin ecology contains huge potential
Bitcoin, as the founding stone of the entire encryption industry, has a current market value of $ 874.8B, but most of the time is only regarded as a “encrypted gold” value storage carrier.
WBTC is a rare way for Bitcoin to flow into the DEFI field. It is an ERC20 asset mapped by the centralized custodian Bitgo 1: 1. The current market value is $ 7B, and it is less than 1%of the market value of Bitcoin itself.
Therefore, the Bitcoin network actually has a large number of asset liquidity failed to be released, and Bitcoin’s native ecology has huge potential momentum.
A fact that is opposite to widespread cognition, the Bitcoin network does not support smart contracts.Just for the consideration of security and simplicity, although the supported smart contract programming language Script is not complete, it is not as powerful as Solidity commonly used on EVM, it can still support multiple signing, time locks, and some signature transactions (PSBT) (PSBT) (PSBT) (PSBT)Waiting for functions.
SEGWIT (Segregated Witness) upgrade allows witness data (the signature information of unlock UTXO transactions) has an independent isolation space and has a capacity of 4MB, expanding the type of media storage on the chain.
The upgrade of Taproot has enhanced the privacy of transactions. At the same time, Bitcoin is allowed to perform more and more complicated transactions. The spending script can be stored in the Taproot script path.The distribution of assets brings the prosperity of new Bitcoin assets such as BRC20, which will bring people’s attention back to the possibility of the Bitcoin ecosystem.
Bitcoin network on the chain
Many Bitcoin OG insists that Bitcoin should maintain simple and pure and play a role in value reserve.However, lack of linked activity, in fact, Bitcoin will be harmful.
Taking the upcoming Bitcoin as an example, the current 6.25 BTC rewards of each block will be reduced by half, which means that the income of the miners will shrink greatly.The degree of degree is reduced, and the fragility increases when attacked.
Avoid only two solutions for this situation. Bitcoin prices have risen (even if the price doubles, the price of block rewards will be balanced with the current); or the active BTC chain activity guide brings more handling fees——The this has been verified by the Ordinals protocol and BRC20.
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(Source: https://dune.com/cryptokoryo/brc20)
The two waves of BRC20 in May and December have led to a significant increase in BTC miners’ income. So far, the Ordinals protocol has brought 5979.4 BTC (~ $ 257.7M) income to BTC miners, far exceeding the coinbase income of the minerEssence
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(Source: https://dune.com/dgtl_asSETS/Bitcoin- Ordinals-analysis)
A method for measuring network security that Bitcoin developers often use to evaluate the number of nodes.In order to allow individual PCs to run the whole node, the size of the block must be strictly limited, and the UTXO set should be reduced to reduce the cost of the whole node.
From the perspective of the number of BTC nodes, due to the appearance of the inscription, many people need to interact with Bitcoin RPC to increase the number of Bitcoin nodes.
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(Source: https://bitNodes.io/dashboard/8y/)
Obviously, the BTC network requires ecological empowerment. The rich chain activities not only bring economic benefits to the miners, make up for the loss after half, but also increase the number of whole nodes and increase network security. More importantly, more is to allow more to make more.People really understand and use BTC.
The mechanism of B² Network to release BTC potential
In addition to the restrictions on the language of smart contracts, BTC lacks applications, and it is also slow and expensive.
On Ethereum, the important means of Layer2 expansion are essentially the idea of modular blockchain to separate the execution layer to improve efficiency, while inheriting the security of the Ethereum network.
In the past year, Ethereum Layer2 is a big year. More than 20 Ethereum two -layer public chain has landed on the ground. The concept of the second floor is deeply rooted in the hearts of the people.
If you want to release the potential of Bitcoin, a natural idea is to build a second -layer network to achieve capacity expansion, use efficient and fast virtual machines, or more familiar EVM as the execution layer to make up for some shortcomings of BTC itself.
B² Network is a pioneer of a BTC second -layer network. It is based on the Bitcoin zero knowledge certification verification commitment and EVM compatible ZK Rollup to bring Ethereum’s talent to the Bitcoin ecosystem.
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(Source: Br Network LitePaper)
Technical architecture
The technical architecture of B² Network mainly includes two layers of structures, ROLLUP layers and DA layers.To understand this architecture simply: need a virtual machine to deal with users’ transactions, and there are also places to store data and verify transactions.
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(Source: Br Network Litepaper)
In the Rollup layer, B² adopts the ZKEVM solution, and will extend the Polygon CDK to the BTC with Polygon Labs.
Through account abstraction, users can use Ethereum accounts or BTC accounts for interaction. At the same time, users who take care of ecological habits on both sides, commonly used UNISAT, metamask and other wallets can continue to use to reduce user learning costs;
The main account can be used by the Transaction Bundler to achieve the sub -account GAS.
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(Source: Br Network LitePaper)
The user’s transactions are submitted and processed at the Rollup layer, and the user’s status is also stored on the Rollup layer. The network will generate related zero -knowledge proof, packaged and sent to the DA layer for storage and verification.
The DA layer includes decentralized storage, B² node and Bitcoin network, which is used to verify the zero -knowledge proof of Rollup, a copy of the data of the data of the Rollup layer permanently, and finally engraved the data into the Bitcoin network by the inscription.
The entire data process is shown in the figure below. After the B² sorter is packaged, the user transaction data is packed, and it is stored by distributed storage to avoid single -point failures and increase reliability.
In order to ensure the availability of data, B 可 will be written to the TapScript script to each block to the Bitcoin network to achieve the continuity of the data available time.
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(Source: Br Network LitePaper)
In the Ethereum network, RollUp is transferred to the second-layer network data into the contract on the main network through callData to verify the transaction and save the data, but the Bitcoin network does not support automatic authentication of smart contracts.Writing zero-knowledge proof and polymerization data of Rollup into Bitcoin, ensure that the data of ZK-Rollup is anchored in Bitcoin and cannot be tampered with.
But it does not guarantee the effectiveness and correctness of transactions in ZK-Rollup, nor can it use Bitcoin’s strong consensus capabilities to ensure the security of Layer 2 ZK-Rollup.
Therefore, the plan adopted by B用 is to write the promise of zero -knowledge certification to the main network, allowing challengers to challenge the commitment of zero -knowledge certification verification within the specified period of time.
If someone challenges success, Rollup will roll back, and the challenger wins the assets of the node locking; and if no one challenges or challenge the challenge during the challenge period, Rollup will be finalized on the BTC.
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(Source: Br Network LitePaper)
B² design is very clever:
1. First, use account abstraction to reduce the threshold for user learning. In fact, it reduces the threshold for asset access. It is convenient for users to access the wallet when there are assets.
2. The second -level network EVM is compatible to facilitate the introduction of developers and Ethereum ecological migration;
3. Overall uses a hybrid mode similar to ZK+OP. Data verification is used with ZK to reduce transaction costs. At the same time, the OP challenge mode is used to avoid the problem of limited BTC verification capabilities.
The vision of B² Network is not limited to a BTC Layer2, but has the same ambitions similar to COSMOS Hub or OP Stack, becoming the second layer of BTC.
In the future, B² Nodes is upgraded to B Hub. B² Hub will build a two -layer Rollup developer and project party service for all hopes for Bitcoin networks to provide the Bitcoin network -based data availability layer and status conversion verification and certification system.
In the future, developers can choose Polygon CDK + B² Hub combination to build their own BTC Rollup.
B² token economy
In the design of Bor Network, there are multiple links to decentralized needs. There are places where tokens are motivated:
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Sequence (Sequence) pledge
The B² network implements decentralized sorter services through B² nodes. The sorter participates in the sequence verification device election through the pledged tokens. The service updates the sorter set through a DPOS mechanism.Packing service.
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B² HUB income
When Rollup is settled to BTC through Bb Hub, you need to pay B² Hub to B² Hub to B² tokens. This part will be burned as HUB income.
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ZK proof
Bitcoin miners can use the computing power to prove the zero -knowledge, and get new returns after Bitcoin halves.
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Storage node
The DA layer requires a distributed storage node to store the Rollup data copy and zero -knowledge proof, and the running node will also obtain token incentives.
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Govern
Token holders can vote for the agreement.
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Pledge
Users who pledge tokens can get some GAS costs on the platform.
Method of participation
1. B² Buzz
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(Source: https://buzz.bsquared.network/)
B² Buzz is a user incentive activity launched by Bt Network. Users can recharge assets within three days before the main network from early February to obtain parts that assembled mining machines. Mining machines can minimize B² native currencies.During the event, all funds are managed by multiple signature methods. Bridge assets can be withdrawn to the first -level network deposited in April 2024.
The assets that can be deposited include:
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BTC: BTC, Ethereum on the Bitcoin network, WBTC on Ethereum, and BTCB on the BNB chain
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BRC20 Assets: Ordi, SATS
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ETH: ETH on Ethereum
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Stablecoin: USDC and USDT on Ethereum; FDUSD on the BNB chain
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MATIC: MATIC on Polygon
You can get more deposit rewards through groups, unlock higher -level treasure chests, use Biteye’s invitation link, https://buzz.bsquared.network/? Code = KUCLH, you can also get additional benefits:
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50% invitation points divide
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MINIBRIDGE 20 % off monthly card
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Get the Cryptohunt Month Card (current value 0.1E)
2. B² Network Odyssey
Users can pay attention to and participate in Odyssey’s activities on the B站 website. Assets deposited in front of the main network will receive the bridge to the B² main network and circulate in the ecology. Users can use these bridges assets to interact with the ecosystem DAPP, follow tasks to obtain morePoints may get potential airdrops in the future.
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(Source: https://buzz.bsquared.network/)
3. Development
B² released a million dollars of Grant project to encourage developers to develop on this new BTC L2.At present, six projects have been sponsored by Grant in the first round, including:
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Glowswap
B² native DEX serves BTC -related assets.
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Protocol x
Based on the Ordinals agreement, it aims to help more DAPP and game applications to establish its own asset system in the BTC ecosystem.
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L2Scan
L2Scan is a block browser focusing on L2 Rollup.
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Pawx
The NFT project can be planted, breed, trades and chat with other cat enthusiasts in PAWX virtual universe.
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Mystic Mind
An artificial intelligence -driven NFT star application.
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Golden Fleet
A full -chain game with ZK algorithm.
Summarize
B² Network has greatly opened up the scalability of the BTC ecosystem by introducing EVM compatible BTC Layer2.
The use of ZK Rollup greatly reduces transaction costs, and through the clever architecture design, combined with a method similar to fraud proof, ZK promises to prove that the user challenge is accepted, thereby solving the limitations of the first layer of BTC.
B²’s partners are head projects. For example, account abstraction adopts the PARTICLE Network solution and cooperates with RaaS’s Altlayer. Now it is creating the first Polygon CDK BTC case with Polygon Labs.
Powerful partners can also help B as one of the most feasible Bitcoin L2 solutions, which is worthy of attention and early participation.
