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Cryptocurrency News Articles

Bitcoin (BTC) Rollups Protocol BOS Verifies First Zero-Knowledge (ZK) Proof on Mainnet

Jul 25, 2024 at 02:13 pm

The technology behind the mainnet verification is BOS's ZK Succinct Non-Interactive Argument of Knowledge (zk-SNARK) verification software library, BitSNARK.

Bitcoin (BTC) Rollups Protocol BOS Verifies First Zero-Knowledge (ZK) Proof on Mainnet

Bitcoin (BTC) rollups protocol BitcoinOS (BOS) has successfully verified the first zero-knowledge (ZK) proof on the blockchain’s mainnet.

The achievement, which occurred at 11:22 pm UTC on July 24, unlocks new levels of functionality and scalability on the Bitcoin mainnet without requiring further changes to the blockchain’s base layer.

In a written Q&A with Cointelegraph, Edan Yago, co-founder of BOS, said the development “opens up a new era where Bitcoin is no longer just digital gold.”

“This marks the beginning of a new era where Bitcoin is no longer just digital gold, but a new foundation for an entirely new world,” Yago said.

“We are excited to be a part of this historic moment and to continue working on making Bitcoin more accessible and useful for everyone.”

ZK-proofs on Bitcoin mainnet: A breakthrough

The technology behind the mainnet verification is BOS’s ZK Succinct Non-Interactive Argument of Knowledge (zk-SNARK) verification software library, BitSNARK.

According to a press release shared with Cointelegraph, BitSNARK enables developers to create “near-trustless bridges” to move Bitcoin (BTC) between the mainnet and layer-2 rollups.

“The BitSNARK library enables developers to create near-trustless bridges to move Bitcoin (BTC) between the mainnet and layer-2 rollups,” the statement reads.

“These bridges are crucial for scaling Bitcoin and unlocking new use cases on the network.”

Yago explained the implications of establishing ZK-proofs on the mainnet, stating that a transaction could now represent “many hundreds and thousands of transactions.”

“This is a game-changer for Bitcoin, as it will allow the network to handle far more transactions without sacrificing security,” he added.

Bitcoin blockchain as an operating system

Yago also highlighted that ZK’s breakthrough in proving verification on the Bitcoin mainnet aligns closely with the firm’s goal.

According to Yago, BOS is working to turn the Bitcoin mainnet “into an operating system.”

“We believe that this will open up endless possibilities for Bitcoin and its community,” he said.

“By transforming the Bitcoin mainnet into more than a transaction system for payments, it can be used ‘for decentralized services and activities, like DAOs, DeFi, anything you can imagine,” Yago explained.

“And with Bitcoin’s security and decentralization, it’s the perfect base layer for these applications.”

When asked about Bitcoin’s upgradability and how this development fits into the narrative, Yago pointed out that the only way to upgrade Bitcoin is through soft forks and changes to the consensus.

“However, this is not always feasible or desirable, especially for urgent or experimental updates,” he said.

“ZK-proofs offer an alternative solution by allowing updates to be verified and enforced without modifying the blockchain itself.”

StarkWare secures first testnet verified ZK-proof

On July 17, StarkWare announced the historic milestone of successfully verifying its own ZK-proof on the Bitcoin testnet, Signet.

The development followed three months of “OP_CAT” exploration by the firm, which allowed it to establish its new STARK verifier on the network.

The verifier laid the foundation for ZK-based layer-2 solution development to help improve Bitcoin’s scalability and advance global payment opportunities on the blockchain.

Original source:tradingview

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