Nashville, Tennessee, Wednesday, 24 July 2024: BitcoinOS (BOS), a superlayer protocol of trustless and interoperable Bitcoin rollups, has successfully verified the first-ever zero-knowledge proof (ZKP) on the Bitcoin mainchain, marking a groundbreaking technical milestone in crypto history. This was completed live on stage at Bitcoin 2024.
The achievement unlocks unlimited scaling and functionality on Bitcoin without requiring additional changes to Bitcoin’s base layer.
Edan Yago, core contributor to BitcoinOS said, “This is the first permissionless upgrade of the Bitcoin system and the first time Bitcoin has been upgraded without a soft fork. With BOS, the dependence on Bitcoin Improvement Proposals to introduce changes such as covenants to Bitcoin is massively reduced or, potentially, completely eliminated. This paves the way for more developers to build on Bitcoin more efficiently and enables true decentralization.”
“We are proud to empower the industry to fulfill the original Bitcoin promise of a trustless peer-to-peer digital money system for the world, while forever remaining a decentralized, immutable, and secure bedrock of economic truth,” he adds.
BitSNARK, BitcoinOS’ game-changing technology, is a software library for verifying zkSNARKs, a type of ZKP on Bitcoin, allowing developers to build layer-2 (L2) rollups. The BOS team has demonstrated that ZKPs enable users to create covenants – conditional payments that cannot execute unless the right cryptographic proof is provided. With this, developers can create near-trustless bridges for moving their BTC back and forth between Bitcoin mainchain and L2 rollups.
Existing L2 models require users to trust a company or federation majority to protect their L2 BTC. With BOS, users only need to trust that one of potentially hundreds of members in a decentralized, dynamic operator set, behave honestly.
Under this model, all threats to the system, even from a coalition of nation-states, would be defeated by the system’s cryptographic assurances.
BOS will be the ultimate implementation of a Bitcoin rollup system using a near-trustless rollup bridge, to which any number of rollups may connect, rather than acting as a single rollup.
All rollups on BOS settle their transactions to Bitcoin together using ZK proofs verified by a shared and open operator set. Furthermore, every BitcoinOS rollup is seamlessly interoperable, meaning they can share their users, applications, liquidity, and functionality. Developers need not worry about whether they are building on the right Bitcoin L2 with enough liquidity and users, instead choosing the rollup environment best suited to their needs. For users, moving assets between rollups will feel effortless, as if they were only using one chain.
“BOS solidifies Bitcoin as the world’s only ‘permaware’ – more reliable and permanent than any other chain or software,” said Yago.
By combining Bitcoin’s unparalleled security and network effects with a modular L2 architecture, BOS is positioned to help bring the $1.1 trillion altcoin ecosystem back home to the Bitcoin network. Bitcoin will now combine all of the functionality and scalability achieved by rival crypto networks with the unrivaled security and user base of the world’s largest blockchain network.
About BitcoinOS:
BitcoinOS (BOS) is a trustless and interoperable “superlayer” protocol for rollups built on Bitcoin. BOS solves Bitcoin’s trilemma of scale, computational expressivity, and decentralization by letting developers freely upgrade Bitcoin without forking its code. BOS leverages BitSNARK – a software library for verifying ZK proofs on Bitcoin, and Grail – a practical implementation of a Bitcoin rollup bridge.
Click here to read the BitSNARK and Grail whitepaper.
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Contact
Name: Hillary Adler, Co-founder
Website: https://www.bitcoinos.build/
Email: [email protected]
Company: BitcoinOS
