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"Two approaches to achieving fully decentralized BTC Layer 2
Expanding the OP Rollup model to encompass the Lightning Network, not limited to payments but capable of executing various contract operations. This approach is referred to as BitVM.
Implementing on-chain distributed threshold signatures for full decentralization, similar to tBTC, and BEVM is the realization of this approach.
BEVM: A fully decentralized Bitcoin Layer 2 compatible with EVM
BEVM is a fully decentralized Bitcoin Layer 2 solution compatible with the Ethereum Virtual Machine (EVM) ecosystem, using native Bitcoin (BTC) as the fuel. BEVM introduces Ethereum's ecosystem to Bitcoin, enabling Bitcoin to issue assets and build applications. It possesses the following technical features:
Fully compatible with the EVM ecosystem, supporting Ethereum wallets, development frameworks (such as Metamask, Truffle/Hardhat), and the Solidity programming language.
Uses native BTC as the fuel for the EVM, similar to the use of Gas fees in Ethereum Layer 2 like OP or Starknet.
On-chain POS nodes, ensuring decentralized threshold signature verification. Adopts a single privacy communication protocol to protect the privacy and security of schnorr signature pubkey/msg aggregation.
Supports Bitcoin light nodes, with the BTC on-chain version supporting Wasm (no standard library) light nodes.
Uses the Signal protocol to ensure privacy and security in messaging between nodes during schnorr signature aggregation and Mast contract composition.
Employs zkstark technology for ultra-light nodes, optimizing for the above-mentioned light nodes to provide Bitcoin's ultra-light node functionality.
The core points for the decentralized and secure BTC Layer 2 of BEVM are:
On-chain distributed threshold signature contract hosting: By using on-chain distributed threshold signature contracts, distributed threshold signatories can reach a scale of 1000 participants.
Utilizes Taproot (Schnorr + Mast contract): Combining Taproot technology, it generates a threshold signature contract address on the BTC mainnet, which can set the threshold value at M/N, where N can go up to 1000 participants, with 2/3 typically chosen as the threshold value.
BTC Layer 2 POS validation nodes: The N participants of the threshold contract address on the BTC mainnet serve as the POS validation nodes for BTC Layer 2, ensuring complete consistency between BTC threshold contract signatories and POS validation nodes on Layer 2. This guarantees the security and decentralization of the entire BTC custody depends on the consensus security and decentralization of the Layer 2 POS network when moving assets from Layer 2 to Layer 1 and vice versa.
Implementation of on-chain light nodes for BTC: BEVM fully implements an on-chain light node for BTC to ensure real-time synchronization of BTC network data on the BEVM network, equipping all BEVM nodes with BTC network data.
A POS network with 1000 validators: BEVM's POS network can accommodate 1000 validators, who also serve as the common custodians of the BTC custody contract. Only when more than 2/3 of the validating nodes among these 1000 validators sign on the consensus layer can operations involving assets from Layer 2 to Layer 1 or vice versa on the BTC network be executed. When moving assets from BTC Layer 1 to Layer 2, users only need to transfer their assets to the threshold custody address of these 1000 validators in the BTC network to automatically receive assets from Layer 2 on the BTC Layer 2 BEVM.
Compared to other Layer 2/cross-chain solutions, BEVM has the following advantages:
No need for centralized initial setup: BEVM's cross-chain model does not require a centralized initial setup, eliminating security concerns related to the disclosure of shard keys. It directly employs BTC's native threshold signature scheme, such as MuSig2.
On-chain distributed network, more decentralization: Validators in BEVM's distributed threshold network are all on-chain block validation nodes, enhancing trust and avoiding the opacity and operational issues of off-chain distributed networks.
No permission required, just trust in the code: BTC to Layer 2 network uses BTC light nodes, fully trusting the logic of the blockchain code, avoiding centralization and fraud issues caused by data oracle submissions.
Distributed network communication, complete privacy: BEVM uses the Signal protocol to address communication issues with BTC root threshold signatures, ensuring private communication in the distributed network and avoiding data leakage, collusion, or external attack risks caused by threshold signatures.
In summary, BEVM provides a more comprehensive solution in terms of decentralization, privacy, and security, with a focus on on-chain decentralization and privacy communication to better protect the security of user assets and data.
Compared to BitVM, BEVM has several advantages and characteristics:
Multilateral collaboration: BitVM supports only bilateral contracts, while applications like DeFi often require cooperation among multiple parties, one of whom is the on-chain contract custodial account address. BEVM supports multilateral collaboration, making it more suitable for a wider range of application scenarios.
Operational simplicity: The mode of BitVM initiating challenges from off-chain to the BTC mainnet is relatively complex and difficult, while BEVM adopts on-chain distributed network verification, which is more direct and convenient, avoiding certain operational complexities.
Generality: BitVM is still in its development stage, whereas BEVM is a mature general-purpose on-chain Layer 2 platform. BEVM's EVM compatibility, support for native BTC as gas fees, and other features make it a more versatile solution suitable for a broader range of application areas.
In conclusion, BEVM is better suited for addressing complex application scenarios like DeFi due to its advantages in supporting multilateral collaboration, operational simplicity, and generality." |
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Post time 21-10-2023 20:59:11
