1/7 Excited to share our game-changing plans for a Hybrid Data Availability (DA) Layer to power our Optimistic Rollup on Bitcoin! 🔥 This is revolutionary stuff, folks.
Ayush Gupta, Co-Founder & CTO of
@layeredge
, is dropping knowledge at
#GMVN2024
☀️
He'll be breaking down
#Bitcoin
's 4th halving, its potential effects on the Bitcoin market, and the implications for the future of Web3.
Get FREE tickets:
Here are some snaps from The Future of BTCFi
Pleasure having
@prabalbanerjee
co-founder of
@AvailProject
&
@ayushbuidl
co-founder of
@LayerEdge
for dropping an amazing session on Bitcoin infrastructure with Avail and LayerEdge.
Thanks for joining everyone.
After some thought, making any DA a Bitcoin DA seems the better option! It leverages existing infrastructure and enhances versatility. What do you think?
@alexeiZamyatin
@DWFVentures
ZK Rollups aren't natively possible on Bitcoin due to its scripting limits.
However, BitVM offers a promising optimistic solution.
Optimistic state validation is key for true rollups on Bitcoin.
Thrilled to share that LayerEdge is bringing the
@Arbitrum
stack to Bitcoin 🟧
LayerEdge teams up with
@OffchainLabs
to introduce
@Arbitrum
’s Orbit Stack on Bitcoin with Data Settlement natively on Bitcoin powered by LayerEdge’s Hybrid Modular DA — Enabling teams to build
2/7 By using a separate DA Layer like
@AvailProject
, we can store block data in a highly scalable and efficient way, completely unconstrained by Bitcoin's limitations. Unlocking a whole new world of possibilities.
Bitcoin is a different story. With no Turing-complete smart contracts and mainly optimistic setups for smart contracts, I firmly believe that optimistic rollups are the way forward
@ArthurB
@zengjiajun_eth
IMO in 10 years, all rollups will be ZK and will commit blocks with finalized state roots to L1 every slot. It will take a lot of infrastructure and prover optimization to get there, but that's the clear endgame.
@simplykashif
it pains me to see us lose so much in unnecessary remittance fees. it's the cost for ignoring Bitcoin's potential to provide borderless, low-cost money transfers for our people.
@0x_orkun
@alexeiZamyatin
@DWFVentures
So you mean to say pay higher gas fee of a ZK rollup and still have a challenge withdrawl period of optimistic bridge, getting worst of both worlds ?
@layeredge
is bringing
@arbitrum
orbit stack to
@Bitcoin
to provide low cost, high throughput and bitcoin settlement (Data via HMDA & transactions via BitVm)
1/3 ⚒️ It's now possible to use
@Arbitrum
’s Orbit Stack for building a Bitcoin L2 with
@LayerEdge
👉 LayerEdge has made
@Arbitrum
Orbit Stack compatible with our Hybrid Modular DA to enable native Data Settlement on Bitcoin: ⬇️
After spending months on airdrop farming, looking for Alphas & playing the points game, I have come to the conclusion that it is better to focus on building Projects & creating Content.
It's not really worth the time & risk involved in it.
4/7 One of the standout benefits? Significantly faster block times and finality - just 12-20 seconds, compared to Bitcoin's 10 minutes. 🚀 This breakneck speed enables next-level applications.
5/7 Rapid finality means users don't have to wait ages for transactions to confirm. It's a game-changer for usability and it helps solve Bitcoin's scalability woes. Onward and upward!
3/7 To ensure total trustlessness, we'll directly post the state proofs onto the Bitcoin blockchain. Leveraging Bitcoin's industry-leading security and decentralization to validate the data's integrity.
6/7 Crucially, our Hybrid DA Layer is built to be modular, allowing other Rollup projects on Bitcoin to utilize it. This fosters a more flexible, scalable data availability ecosystem. Collaborative innovation at its finest.
7/7 This Hybrid DA approach is a true game-changer for building scalable, secure apps on Bitcoin. Stay tuned as we continue developing this groundbreaking infrastructure! 💪 The future is bright, my friends.
We are excited to share that
@ayushbuidl
, the Co-founder of
@layeredge
, will be participating in a Text AMA today!
🗓 When: August 14th, 14:00 UTC
📌 Where:
LayerEdge is developing a verification layer for Bitcoin by implementing aggregated verifiable
@alexeiZamyatin
@CelestiaOrg
@babylonlabs_io
@nubit_org
this is a real problem, and i think i have the solution. with aggregated proofs,
@layeredge
can significantly reduce the cost of settlement and verification on bitcoin. our approach involves aggregating the proofs of multiple protocols into a single proof. this aggregated proof
1/ July was a month of significant progress and strategic advancements for LayerEdge.
Below is a detailed thread of our technical updates, partnership integrations & Multiple spaces:
✅Technical updates.
✅New integrations & partnerships.
✅Multiple spaces hosted.
11/11 As we watch this space, the evolution of Layer 2 solutions will play a critical role in Bitcoin's ability to serve as a digital currency on a global scale. Stay tuned for more updates!
#BitcoinEvolution
5/ Zero-Knowledge Rollups, on the other hand, use complex cryptographic proofs (zk-SNARKs or zk-STARKs) to validate transactions. Vitalik Buterin, co-founder of Ethereum, has been a strong proponent of ZK Rollups for their efficiency and security.
To truly establish oneself as a Bitcoin Layer 2 solution, it's essential to have the security of Bitcoin and dedicated enthusiasts propelling the projects, otherwise it's all an illusion.
1/11 Bitcoin’s scalability has always been a hot topic. As we dive into the evolution of Layer 2 solutions, let's explore how these technologies aim to enhance Bitcoin's capabilities.
#Bitcoin
#Layer2
1/7 As someone deeply involved in the crypto space, I've given a lot of thought to the debate around MPC (multi-party computation) vs. multisig for securing digital assets. And when it comes to security, I believe MPC is the superior solution.
4/ Optimistic Rollups operate on the principle of optimism - assuming transactions are valid by default and only running computation, through a fraud proof, in the event of a challenge. This method was pioneered by projects like Optimism and Arbitrum.
Report on L1 data costs on Bitcoin from the perspective of L2s.
My 2 cents (imho this is missing in the report).
- No-one will post data on the L1. Use
@CelestiaOrg
or Bitcoin-native solutions like
@babylonlabs_io
@nubit_org
, or a merge-mined DA sidechain.
- Bitcoin L2s will
1/ Rollups are a revolutionary solution in the blockchain space, designed to scale networks by handling transactions outside the main Ethereum chain (Layer 1) while still ensuring data integrity and security. Let's dive into their history and impact.