jakiro
Written article: 0xjs@：
On April 30, 2024, Chakra, the Bitcoin Re -pledge Agreement, announced that he had received Starkware, ABCDE, Bixin Ventures, Coinsummer, Cogitent Ventures, Trustless Labs, and QTUM founders Shuangchu, coin letter founder Wu Gang, Longhash, Founder yanWait for an angel investment for encrypted OG,
So, what is the Bitcoin re -pledge agreement Chakra?This article takes you to understand.
Introduction to Bitcoin expansion solution
With the successful listing of Bitcoin spot ETF, Bitcoin has entered the global mainstream financial market as an alternative asset.Therefore, the Bitcoin ecosystem is a narrative of this bull market.However, with the expansion of Bitcoin technology solutions and the launch of various Layer 2 solutions, Bitcoin is also developing not only new narratives other than value storage, such as Bitcoin income assets and decentralized finance (DEFI) and decentralized applications based on Bitcoin network.
Obviously, the huge market value of Bitcoin’s trillions of dollars has not been fully financially melted.Bitcoin holders can only centrally allocate assets through loans for a long time, facing extremely high security risks and lack of financial flexibility.From a technical point of view, the emergence of various Bitcoin Layer 2 solutions enables Bitcoin to participate in the DEFI protocol as an underlying asset, and at the same time solves the problem of trust with intermediary agencies.Below, we will compare various Layer 2 solutions and explain why Chakra is a better infrastructure with Bitcoin pledge yields.
Side chain
The side chain is the main implementation method of BTC L2.They are usually connected to the main chain through a two -way cross -chain bridge, allowing assets to flow between them.The side chain has its own consensus mechanism and verification node, which has strong flexibility.However, their security relies on the design of the bridge, which usually requires a third party (such as signature nodes or MPC nodes), while BTC is hosting the first floor.
Typical Bitcoin side chain projects such as STACKS execute smart contracts written in Clarity on the side chain and eventually settlement transactions on BTC.Stacks allows to generate multiple small blocks on the chain, called micro -block stream, so that miners who are responsible for confirming the current Stacks block can make full use of the time interval between the two BTC block generation to handle more transactions.When Bitcoin confirms the current block, these micro blocks are finally confirmed, and the next Stacks block will link to the current last micro block.
Lightning network
Lightning network is a BTC traditional two -layer extension protocol, which promotes faster small payment.It is composed of a payment channel established by the user to form a network of fast BTC transfer.Lightning network eliminates the needs of the BTC block confirmation and realizes the almost instant transaction confirmation, thereby solving the core pain point of BTC payment.However, it also has its shortcomings:
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Fund locking: Users need to lock the funds in the payment channel to use the lightning network, which limits the availability of funds.
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Transaction limit: The lock design of the lightning network makes it difficult to support large transactions and lacks availability.
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Network centralization: In order to improve efficiency and reduce costs, large payment centers may occur, thereby increasing the risk of network centralization.
RGB
RGB is a smart contract system based on Bitcoin.It uses client verification to create and manage various types of assets on the Bitcoin network without sacrificing privacy and security.Compared with traditional blockchain intelligent contracts, RGB aims to provide higher scalability and flexibility, while maintaining the decentralized characteristics of the Bitcoin network.However, RGB also has its shortcomings:
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Complexity and development progress: The technology and concepts of RGB are relatively complicated, and the development progress is slow.
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The difficulty of confirmation of the global state: Although the status conversion diagram of the RGB is guaranteed, the global transaction data cannot be achieved.
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Using and network effects: RGB requires a large number of users and developers to achieve potential value, which takes time.
2 layer summary
Rollup is a kind of expansion technology defined by ETH, which is also used for BTC.They “compressed” multiple transactions into a single transaction and submitted it to the main chain.Ideally, the security and endability of Rollups depend on the main chain.Because BTC lacks intelligent contract functions, BTC Rollups is not RollUps with complete concepts, because BTC cannot verify its proof.Similar to the side chain, Rollup needs to achieve asset transfer between L1 and Rollup cross -chain bridges.
Typical Rollup Layer2 Bitcoin project, such as Citrea, uses the chain verification proved by ZK and challenges on the chain proven by ZK.Security still depends on fraud proof, so the security model is still the 1/N honest assumption of OP Rollup.
Why do we need chakra
When exploring the existing solutions, the introduction of BTC into the ecosystem often encounters the security vulnerability of the bridge.Following the “Not Your Keys, Not Your Coins”, most BTC holders do not trust any third party, whether it is decentralized bridge or MPC, which directly hinders the further development of the BTC ecosystem.Therefore, the introduction of BTC into the ecosystem is more in line with BTC culture by self -custody, and some encrypted magic is needed.
Self -custody pledge and re -pledge
The reason why Bitcoin enthusiasts trust Bitcoin is because of its high degree of decentralization and strong security.Therefore, the safety of sacrifice benefits may be a major issue.Our solutions allow Bitcoin holders to participate in pledge, without having to transfer assets from wallets. This is implemented by locking scripts through time to ensure that there are no third -party risks.
Chakra will truly release the potential of the BTC ecosystem, marking that the BTC can earn interest without trusting external third parties for the first time, so that BTCs worth trillions of dollars are seamless into the ecosystem.This is similar to what DEFI does to ETH, which will lead to explosive growth of the BTC ecosystem.
Therefore, such as BABYLON completely rely on cryptographic methods to conduct BTC pledge to guide the launching L2 attempts, providing new possibilities for the BTC ecosystem.
Chakra aggregates the signature of a series of users through the Musig2 protocol to generate UTXO with time locks, which can “pledge” Bitcoin within a certain period of time.Users do not need to transfer BTC to any third -party hosting address, but can realize the L1 layer self -hosting through the derivative address.There are only two conditions to unlock the pledged BTC UTXO:
1. After signing with Chakra networks, it can be retrieved. This may be initiated by the user’s request to unlock in advance in the Chakra network, which provides flexibility.
2. After the lock period of the initial setting, the user will automatically regain control of its BTC.Even if the Chakra network stops operation, users can still extract BTC in time without worrying about security risks.
The Chakra network is guaranteed by BTC’s re -pledge proof, and the pledged BTC is allowed to be verified in multiple places in the ecosystem.For example, the BTC of the pledged Chakra can also participate in the pledge of Babylon; the BTC liquidity tokens generated during the pledge process can also participate in the DEFI and smart contract business ecosystem in the network, making Chakra similar to Lido in Bitcoin ecosystem.
Specifically, after the user pledge BTC through the Chakra protocol, Chakra will issue STBTC for users on L2. The pledged BTC will be used to participate in the pledge of Babylon to obtain benefits.When user withdrawn, destroyed STBTC on L2 will release BTC and corresponding babylon yields.
Use ZKP to verify Bitcoin transaction
In Chakra’s solution, zero -knowledge certification is used to verify Bitcoin transactions. The Bitcoin pledge incident occurs on the main network and has a lock -up period. The trust process is completed through these zero -knowledge proof.These proofs can be verified under the chain, thereby accessing the pledge information on the chain with a verification method that does not need to be trusted. It does not need to be connected to the Bitcoin network, nor does it need to reach a security consensus.
Chakra uses STARK to implement the proof system, providing zero -knowledge certification solutions, without credible settings, and enhances security compared to SNARK.The ZK light client can synchronize the BTC pledge certificate to all L2 networks that need to be pledged by BTC and then pledge to ensure a common solution.
Bring StarkNet technology innovation into the Bitcoin ecosystem
Chakra will introduce a customized sorter Madara to the Bitcoin 2nd layer network.Madara uses the Cairo language to prove the execution of any program, making the Madara network itself more secure and efficient, because anyone can innovate a decentralized manner.
In addition, Cairo uses Stark technology to generate efficient zero -knowledge proof to make it sufficiently efficiently verify large -scale complex calculations and ensure good scalability.Since it does not depend on the credible settings, the Stark generated by Cairo proves that it has inherent transparency and security.In essence, Cairovm is a program that obtains the bytecode of the compiled Cairo smart contract and outputs the tracking of all steps adopted during the program execution.With the help of Cairovm, Chakra can not only introduce Starknet’s relatively complete ecosystem into Bitcoin, but also use the Cairo’s powerful developer community to create new applications for the Bitcoin ecosystem.
