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Cryptocurrency News Articles
The Bitcoin Blockchain Adds the First zk Proof to a Block of the Mainnet, Unlocking New Features
Jul 25, 2024 at 06:38 pm
The BitcoinOS rollup developer has verified block 853626 containing the zk computational proof, unlocking a phase of new network features.
Yesterday, a new milestone was reached in the Bitcoin blockchain when the first zk proof was added to a block on the mainnet.
The BitcoinOS rollup developer has confirmed that block 853626 contains the zk computational proof, marking a new phase in the network’s capabilities.
With this technical advancement, Bitcoin is becoming more efficient in terms of blockspace and is increasingly likened to an operating system.
Here are the details.
BitcoinOS rollup adds first zk proof ever to Bitcoin mainnet
Yesterday at 23:22 UTC, the BitcoinOS (BOS) rollup protocol successfully achieved the first zk proof verification on the Bitcoin mainnet.
Block 853626, added to the chain by miner Foundry USA, officially marks a new era in the blockchain as it ushers in functionalities that were previously unimaginable.
Bitcoin is thus enhancing its own scalability and expanding its network capacity, all without requiring a soft fork, with all the risks that come with it.
As BitcoinOS collaborator Edan Yago indeed stated in an interview:
“Every time a soft fork happens, not only a greater risk is introduced into the system… but also relevant frictions are created within the user community.”
We did it! For the first time ever a ZK-proof has been verified on Bitcoin Mainnet by BitcoinOS.
The final verification was confirmed in block 853626.
A historic moment and a historic block.
A new era has begun for Bitcoin enabling unlimited scaling and functionality -… pic.twitter.com/x8akim4SJh
BitcoinOS acts as a superchain for the Bitcoin layer, in the form of a chain that powers multiple trustless, interoperable rollups and is guaranteed by the security of the L1.
This infrastructure, which operates outside the mainnet but communicates with the main layer via zk proofs, allows the network to adapt to a more complex use than the canonical exchange of value.
The team behind this project will discuss the major milestone achieved during the Bitcoin-themed event in Nashville that will take place today.
Their goal is to unlock unlimited features on the most decentralized blockchain in the world, making possible with zk proofs what was until today considered impossible.
To celebrate the result, BitcoinOS has also developed a block explorer for zk transactions, in order to facilitate the reading of on-chain transactions.
4/ We have built a blockchain explorer for Bitcoin ZK transactions. Here you can see the full set of challenge transactions that occurred leading up to the final verification of the ZK-proof.
pic.twitter.com/xVDCjHRheV
Lightning Network becomes obsolete
The developers of this rollup, by launching the first zk proof on the Bitcoin mainnet, have effectively rendered some scalability solutions like the Lightning Network obsolete.
This second-layer network, for example, requires users to trust centralized companies and corporations in order to use the lightning channels safely.
Furthermore, the L2 presents a liquidity between channels that is significantly lower compared to the mainnet and is therefore still very far from being able to host larger transactions.
Although it has been the preferred network by bitcoiners for daily micropayments, now with the arrival of rollups it risks losing its appeal.
Solutions like BitcoinOS do not in fact require relying on intermediaries, leveraging the security of the central Bitcoin network.
The zk proofs integrate more privacy and scalability, increasing the possible connections with the DeFi world and introducing new use cases.
As collaborator Edan Yago described in a recent interview:
“Unfortunately, Lightning Network has been a largely overrated scalability solution.
As a technology, since it is pre-funded and since it is necessary to move from one player to another, it is suitable only for a very limited number of niche applications.”
Bitcoin blockchain takes on the appearance of Ethereum as an operating system
With the arrival of the first zk proof on a Bitcoin block, the Satoshi Nakamoto blockchain is becoming increasingly similar to Ethereum.
By adding scalability and introducing smart contracts, Bitcoin can fulfill the role of a “global computer” as desired by Vitalik Buterin.
Even better, as Edan Yago of BitcoinOS describes, the network could become an “operating system” that powers a series of decentralized applications.
Thus Bitcoin shifts from the definition of “layer of value” moving more towards a conception of a platform for decentralized services and activities.
Here are Yago’s words in which he presents the enhancement of the Bitcoin infrastructure:
“It is also an operating system and a platform on which the entire world of decentralized applications can be built. […] This marks a chapter in which Ethereum, Solana, and all other layer 1 projects are no longer safe from Bitcoin’s competition.”
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