Nashville, Tennessee, Wednesday, July 24, 2024: BitcoinOS (BOS), the trusted and interoperable Bitcoin rollup superlayer protocol, has efficiently verified the first-ever zero-knowledge proof (ZKP) on the Bitcoin predominant chain, marking a groundbreaking technical milestone in cryptocurrency historical past. This was accomplished stay on stage at Bitcoin 2024.
Success unlocks limitless scaling and performance on Bitcoin with out the necessity for additional modifications to the underlying Bitcoin layer.
Edan Yago, lead contributor to BitcoinOS, stated: “That is the primary permissionless improve of the Bitcoin system and the primary time Bitcoin has been upgraded with no comfortable fork. With BOS, the reliance on Bitcoin Enchancment Proposals to introduce modifications like contracts to Bitcoin is massively diminished or doubtlessly eradicated fully. This opens the best way for extra builders to construct on Bitcoin extra effectively and allows true decentralization.”
“We’re proud to offer the business the chance to ship on Bitcoin's unique promise of a trusted peer-to-peer digital financial system for the world, whereas endlessly remaining a decentralized, immutable and safe basis of financial reality,” he provides.
BitSNARK, a BitcoinOS game-changing know-how, is a software program library for validating zkSNARKs, a sort of ZKP on Bitcoin that enables builders to create Layer 2 (L2) summaries. The BOS group demonstrated that ZKPs permit customers to create contracts – conditional funds that can’t be made except the proper cryptographic proof is supplied. This permits builders to create near-trustless bridges to maneuver their BTC forwards and backwards between the Bitcoin predominant chain and L2 aggregates.
Current L2 fashions require customers to belief a majority firm or federation to guard their L2 BTC. With BOS, customers solely need to belief that one in every of doubtlessly a whole bunch of members in a decentralized set of dynamic operators is behaving actually.
Beneath this mannequin, all threats to the system, even from a coalition of nation states, could be defeated by the system's cryptographic safeguards.
BOS would be the remaining implementation of the cumulative bitcoin system utilizing a near-trustless cumulative bridge that any variety of cumulative operations can connect with, fairly than appearing as a single mixture.
All aggregates on BOS will settle their Bitcoin transactions collectively utilizing ZK proofs verified by a shared and open set of operators. Moreover, every BitcoinOS rollup is seamlessly interoperable, which means it could possibly share its customers, purposes, liquidity, and options. Builders don't have to fret about whether or not they're constructing on the proper Bitcoin L2 with sufficient liquidity and customers, as a substitute selecting the rollup atmosphere that most accurately fits their wants. For customers, shifting assets between summaries will probably be as easy as in the event that they have been utilizing just one string.
“BOS cements Bitcoin because the world's solely 'permaware' – extra dependable and everlasting than some other chain or software program,” Yago stated.
By combining Bitcoin's distinctive safety and community results with L2's modular structure, BOS is positioned to assist carry the $1.1 trillion altcoin ecosystem again house to the Bitcoin community. Bitcoin will now mix all of the options and scalability achieved by competing crypto networks with the unrivaled safety and consumer base of the world's largest blockchain community.
About BitcoinOS:
BitcoinOS (BOS) is a trusted and interoperable “superlayer” protocol for Bitcoin-based digests. BOS solves Bitcoin's trilemma of scale, computational expressivity, and decentralization by permitting builders to freely improve Bitcoin with out having to fork its code. BOS makes use of BitSNARK – a software program library for verifying ZK proofs on Bitcoin and Grail – a sensible implementation of the Bitcoin rollup bridge.
Click on right here to learn the BitSNARK and Grail whitepaper.
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