- Last week, the developers of the Bitcoin Virtual Machine introduced BitZK, a ZK-proof service.
- In the world of blockchain, zero-knowledge proofs are used to compress data and are currently the foundation of many of the most well-liked Ethereum rollups.
- BVM is a general-purpose state machine that leverages the security of Bitcoin, akin to Ethereum.
BitZK, a zero-knowledge proofs service that improves Bitcoin’s scalability by enabling users to create rollups and move applications from Ethereum to Bitcoin, was introduced last week by the team behind the Bitcoin Virtual Machine (BVM).
Developing scalable layer-2 solutions or increasing block sizes have not always been easy ways to scale Bitcoin. Because of the network’s small user base, developers had more time to consider their options in the past, but the rise in on-chain usage has made efficient scaling solutions more urgent.
Blockchains on Bitcoin powered by BVM would be the first instances of Bitcoin ZK-rollups on mainnet, which is a significant technological advance. In the world of blockchain, zero-knowledge proofs are used to compress data and are currently the foundation of many of the most well-liked Ethereum rollups.
Access to BitZK is available for at least $99 per month from BVM, and early adopters such as Octopus Bridge, POWD3R Blockchain, and Bitcoin layer 2’s RWA Chain are already on the list.
The memory, CPU, and storage expenses incurred in maintaining a Bitcoin layer 2 are covered by the monthly charge. Models with higher prices start at $499 and go up to $1,999.
BVM was first released in January 2023 with the intention of expanding the Bitcoin network as much as possible. Put another way, the team hopes to enable features that were first introduced on networks like Ethereum on the biggest and oldest blockchain.
The project’s whitepaper describes BVM as an Ethereum-like state machine that uses Bitcoin as a data layer to accomplish transaction-level consensus. With no additional network or consensus protocol, this method enables BVM to operate as a general-purpose state machine by using the security and data accessibility of Bitcoin.
The project is one of many attempting to scale Bitcoin that are beginning to take off as the demand for block space is driven by protocols such as Ordinals and Runes.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
