GOAT Network’s Bitcoin Layer 2 Testnet Suggests Faster Transaction Proofs With Zero-Knowledge Rollups
Main Idea
GOAT Network's BitVM2 Beta is a zero-knowledge rollup on Bitcoin that enhances transaction speed and security, offering sub-3 second proofs and Bitcoin-denominated yield, marking a significant advancement in Bitcoin Layer 2 technology.
Key Points
1. BitVM2 Beta is the first zero-knowledge rollup built directly on Bitcoin, achieving sub-3 second proof generation times.
2. GOAT Network uses GPU-powered nodes to process blocks and Groth16 zero-knowledge proofs simultaneously for faster transactions.
3. The rollup settles transactions directly on Bitcoin, with miners validating disputes, unlike sidechain-based projects.
4. GOAT Network provides Bitcoin-denominated yield sourced from Bitcoin gas fees, addressing a key demand in the Bitcoin community.
5. Security is ensured through decentralized sequencers, a trustless bridge with an Optimistic Challenge Process, and zk-proofs to prevent invalid transactions.
6. GOAT Network plans to make BitVM2 ZK Rollups publicly available before the end of 2024, signaling a new era of scalable Bitcoin Layer 2 solutions.
Description
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