Documenting Bitcoin Rollups 📄

🟠 gm. we’re live with the seventh edition of the #Bitcoin Rollup. we cover: -@chainway_xyz unveils @citrea_xyz 🍊🍋 -@build_on_bob releases OptiMine whitepaper -@SovrynBTC announces BitcoinOS highlights and full post below 👇

It's probably worth saying that bitcoin rollups will have weaker trust assumptions than Liquid when they first hit mainnet.

The introduction section in this podcast provides a clear definition on what a "rollup" is and mentions early bitcoin metaprotocols as the first implementations of rollups: x.com/apriori0x/stat…

Rollups on Bitcoin? Rollups have existed on bitcoin for years. The earliest rollups being metaprotocols such as Counterparty. Ordinals are also a rollup on bitcoin. Rollups are simply blockchain networks that derive security from another blockchain. The best definition to date: A rollup is simply a blockchain that inherits the security properties of another blockchain. "Optimistic" or "ZK" refers to how a rollup's state can be proven to another blockchain, which is mostly useful for trust-minimized message passing. Some may argue that metaprotocols are not blockchains, but let's look at the following example: A user of a bitcoin NFT protocol inscribes data into a bitcoin transaction to mint an NFT, let's say. This transaction is a valid bitcoin transaction. The way the data is formatted, and included in the bitcoin transaction, also follows the rules of another protocol. The NFT protocol has a set of indexers (full nodes) that scan bitcoin and query transactions that follow the rules of their external consensus protocol. They see the user's mint transaction, confirms that it follows the rules of the protocol, and add it to their own ledger. 👆 This is also how any of the "rollup" projects work. Rollups and metaprotocols are essentially the same flavor of protocol. A group of full nodes, or indexers, scan another blockchain who makes data, related to their network, available to them. Then, the full nodes apply some type of logic over a set of new transactions to update their view of their external network. If the transaction is valid, it is added to their own ledger. Notice how the example above doesn't mention bridges, ZK, or any other buzzwords you may see on social media. In the case of bitcoin rollups, bitcoin is the blockchain that acts as the data availability layer. A bitcoin rollup does not need a bridge to make it a "rollup".

lore

SNARKnado: ELI5 & Why It’s Important to Bitcoin Last week, @AlpenLabs announced SNARKnado — a new paradigm for verifying “SNARKs” on bitcoin (based on BitVM). A thread on what all of that means and the wonderful things it unlocks on bitcoin 🧵

Rollups on Bitcoin 1/ Two years ago, @ercwl and @lightcoin were nearly the lone voices talking and researching rollups on Bitcoin. Early in 2023, our team at @citrea_xyz alongside Alpen Labs started architecting and building rollups on Bitcoin. 🧵 ⬇️

From Development to Deployment: 3 Milestones Before Citrea Testnet 🍊🍋 As Bitcoiners at heart, we take pride in open-source development and transparency. Today, we’re excited to share the 3 developmental steps left before shipping the Citrea testnet [1/5]🧵

MEVil (or centralizing MEV) is one of the biggest threats to bitcoin’s value, but it’s poorly understood. I wrote about what it is (and isn’t) and how developers and bitcoiners must consider it carefully if we want bitcoin to survive. bluematt.bitcoin.ninja/2024/04/16/sto…

The possibility of ZK Rollups on #Bitcoin: In one single trustless transaction: - Make a purchase securely from mobile device, - By borrowing against BTC at 0% interest, - Minting BTC-backed stablecoins, - Swapping them into any currency, - Sending anywhere in the world, - Fully encrypted E2E, - For less than a few cents. - In less than 1 second. - Fully secured by #Bitcoin I genuinely think this is possible in less than three (3) years with ZK Rollups on Bitcoin. If someone has a superior way to build this over ZK Rollups, I would consider pivoting my efforts.

1/ We’re thrilled to announce our $10.6M funding round led by Ribbit Capital to create a bitcoin-based economy.

👀 "At @StarkWareLtd we believe OP_CAT is enough to get STARKs into bitcoin." – @GuthL

We’re excited to come out of stealth and share our vision for expanding the utility and accessibility of freedom money around the world. ZK + Bitcoin.

A rollup is simply a blockchain that inherits the security properties of another blockchain. And "Optimistic" or "ZK" refers to how a rollup's state can be proven to another blockchain, which is mostly useful for trust-minimized message passing.

Thanks the shoutout @BobBodily! We've been a little quiet as of late, but will be ramping up the content again in the coming weeks.

@BaleaBTC @DerSchrodinger @NewsAsset we try

@DerSchrodinger @NewsAsset Yes 💯 @BitcoinRollups is a gold mine

Bitcoin L2’s are a narrative that will be right up there with artificial intelligence, web3 gaming and DePIN for this cycle. Get in now. Here’s a good thread to get you up to speed.

We’re glad to support the adoption of the CairoVM to explore scaling and the adoption of STARK technology 🫡

1) We’re very proud to announce the closing of Bitlayer Labs' $5M seed funding round led by @hiFramework and @ABCDELabs. This is a monumental day for Bitlayer.

Are #bitcoin rollups real...? We're diving into the latest developments on @L1Fxyz's upcoming spaces. @ekrembal, @stskeeps, @simanta, @alexeiZamyatin , @Dr_DAO_, and @lightcoin will be coming on as speakers to give us the latest. Link below 👇twitter.com/i/spaces/1vAxR…

I think even the Bitcoin L2 ppl are underestimating the tsunami of programmability that is coming to Bitcoin. All the action has been on Ethereum DeFi and such over the last few years. Bitcoin L2s are going to be huge. I can imagine Bitcoin L2s using Avail DA as an intermediate fast DA layer before finally posting every 10 min block to Bitcoin for DA.

Rollups, sequencers and #Bitcoin are now being mentioned in the same sentence. So I wrote a blog on how these chains can use Espresso for sequencing and data availability. @januszgrze/espresso-on-bitcoin" target="_blank" rel="nofollow noopener">hackmd.io/@januszgrze/es…