Layer-2 Blockchain Network Build Bitcoin (BOB) has deployed a major technical upgrade that approaches getting the full decentralized mark of L2Beat, a platform that ranks the maturation and decentralization of Layer 2 networks.
Bob, whose aim is to bring Ethereum-style distributed finance (DEFI) capabilities to Bitcoin, has implemented Zero Knowledge (ZK) fraud proof within an optimistic rollup framework.
This means that Bob uses an optimistic roll-up structure, but replaces the traditional slow fraud checking process with faster ZK fraud proofs. This is a shift that allows you to resolve trade disputes in minutes using encrypted proofs.
The new implementation aims to reduce user friction and reduce barriers to participation in network protection.
Participate in a fully decentralized race based on Bitcoin
Bob co-founder Alexei Zamyatin told Cointelegraph that the new Kailua upgrade will bring blockchain to Stage 0 of the L2Beat platform, allowing 24 other protocols to participate in the rollup rankings on the platform.
“This upgrade will be Stage 0 for Bob in L2beat,” Zamyatin told Cointelegraph. “It’s a relatively short jump to achieve stages 1 and 2.”
L2Beat ranks Layer 2 maturity and decentralization by placing specific requirements, such as having a functional fraud prevention system or having a security board. After checking and determining the protocol status based on the standard, assign stages from zero to three.
“The Kailua upgrade solves the biggest challenge of reaching stages 1 and 2, and has a functional proof system that gives Bob a complete Ethereum security,” Zamiyachin told Cointelegraph.
The team added that the only hurdle remaining is to add a security council with sufficient external entities and delays in code updates. “These updates are also ongoing,” Zamyatin told Cointelegraph.
Currently, 22 protocols have achieved stages 0 and 1 on the platform, but only two protocols, ZK.Money V1 and Honeypot PRT, achieved stage 2 on the platform.
Rollup that passed L2Beat screening requirements. Source: L2Beat
Rollups like Arbitrum One, Base Chain, and OP Mainnet are part of the top protocol in terms of total value.
Cointelegraph contacted L2Beat for comment but was not responded by publishing.
Related: The Ethereum Foundation roadmap targets mainnet Zkevm within a year
Unlock Bitcoin ZK Verification
Zamyatin also told CointeLegraph that the recent ZK upgrade to BoB paves the way for Bitcoin’s ZK verification.
“The ZK upgrade to BOB unlocks ZK verification on the most important networks: Bitcoin,” said Zamyatin, adding that BITVM can also verify the same validity proof of the BOB chain with Bitcoin.
He said this is the “key building block” of a fully Bitcoin-placed bridge with BITVM, which brings smart contracts and programmaticity to Bitcoin.
He added that combining all of these works will make Bob a gateway to Bitcoin defi. “Because everything is fixed in Bitcoin’s security, Bob will provide users, institutions, Defi protocols and other chain access to native BTC with BITVM,” Zamyatin told Cointelegraph.
In a previous interview, he predicted that Bitcoin defi would surpass Ethereum and Solana, with over 300 million users.
https://www.youtube.com/watch?v=0BX9ALZW1UI
magazine: Ethereum is destroying competition in the 16.1T Tradfi tokenized race
