Nashville, Tennessee, Wednesday, July 24, 2024: BitcoinOS (BOS), a trustless, interoperable Bitcoin rollup superlayer protocol, has achieved a groundbreaking technical milestone in cryptocurrency historical past by efficiently validating the first-ever Zero-Information Proof (ZKP) on the Bitcoin mainchain, accomplished reside onstage at Bitcoin 2024.
This achievement permits limitless scaling and performance for Bitcoin with none further modifications to Bitcoin's base layer.
Edan Yago, a core contributor to BitcoinOS, stated, “That is the primary permissionless improve of the Bitcoin system and the primary time Bitcoin has been upgraded with no delicate fork. BOS might considerably scale back and even fully get rid of the reliance on Bitcoin enchancment proposals to introduce contracts and different modifications to Bitcoin. This can enable extra builders to construct on prime of Bitcoin extra effectively, enabling true decentralization.”
“We’re proud to assist the trade fulfill Bitcoin's unique promise of offering the world with a trustless, peer-to-peer digital cash system, whereas without end remaining the muse of financial fact that’s decentralized, immutable and safe,” he added.
BitcoinOS' breakthrough know-how, BitSNARK, is a software program library for verifying zkSNARKs, a sort of ZKP on Bitcoin, that allows builders to construct Layer 2 (L2) rollups. The BOS group has demonstrated that ZKPs enable customers to create contracts – conditional funds that can’t be executed except applicable cryptographic proofs are offered – permitting builders to create a virtually trustless bridge to maneuver BTC between the Bitcoin mainchain and L2 rollups.
In present L2 fashions, customers should belief a majority of an organization or coalition to safe their L2 BTC. With BOS, customers solely have to belief considered one of a whole bunch of members in a decentralized, dynamic set of operators to behave actually.
On this mannequin, all threats to the system, even threats from a coalition of nation states, are defeated by the cryptographic ensures of the system.
BOS would be the final implementation of the Bitcoin rollup system, utilizing a virtually trustless rollup bridge to which any variety of rollups can join, somewhat than functioning as a single rollup.
All rollups on BOS collectively settle transactions into Bitcoin utilizing ZK proofs verified by a shared, open set of operators. Moreover, all BitcoinOS rollups are seamlessly interoperable, permitting them to share customers, purposes, liquidity, and performance. Builders don't have to fret about whether or not they're constructing on the best Bitcoin L2 with sufficient liquidity and customers, however can as an alternative select the rollup atmosphere that most closely fits their wants. For customers, shifting property between rollups feels as simple as in the event that they had been solely utilizing one chain.
“BOS establishes Bitcoin as the one ‘permaware’ on the earth, that means it’s extra dependable and everlasting than some other chain or software program,” Yago stated.
By combining Bitcoin's unparalleled safety and community impact with a modular L2 structure, BOS will assist deliver the $1.1 trillion altcoin ecosystem again to the Bitcoin community, combining all of the performance and scalability that rival crypto networks supply with the unparalleled safety and consumer base of the world's largest blockchain community.
About BitcoinOS:
BitcoinOS (BOS) is a trustless, interoperable “superlayer” protocol for rollups constructed on prime of Bitcoin. BOS solves Bitcoin's trilemma of scale, computational expressiveness, and decentralization by permitting builders to freely improve Bitcoin with out forking the code. BOS leverages BitSNARK, a software program library for verifying ZK proofs in Bitcoin, and Grail, a sensible implementation of a Bitcoin rollup bridge.
Click on right here to learn the BitSNARK and Grail whitepaper.
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identify: Hilary Adler, Co-Founder
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