“The Testnet Debuts with Support From A Host of Major Crypto Firms Who Will Be Operation Nodes on The Bitvm Bridge, Such As Lombard, Amber Group and Rockawayx”, – WRITE: www.coindesk.com
Describing ITSELF as A Hybrid Layer-2, Bob’s AIM is to Combine Bitcoin’s Security and Reserves with Ethereum’s Programmmability Using the Bitvm Computing Paradigm to Create (
Bitvm was introduced in Late 2023 by Robin Linus as A Means of Enabling Rollups Atop Bitcoin, Thus Allowing Faster and Cheper Transactions Without Compromising the Network’s Security.
Bob’s Bridge Harnesses Bitvm to Allow Btc to Be Transferred to The Rollup and Later Bring It Back So That It Can Be Withdrawn.
Central to Bob’s Ehos is that It Will Use Actual BTC Racher Than A Wrampped Version of the Asset As the Fuel for Defi Services. Some Projects Use A Form of Wrampped Bitcoin to Bring Btc’s Value to Their EcoSystem for Use in Defi Applications, Such As Stacks with It SBTC TKEN.
“Just as ethy remains ‘on Eth’ on Ethereum Rollups Like Optimism and Arbitrum, BTC on Bob Remains Native and Simplaly Called ‘BTC’,” BOB SAID IN ANNOUNCEMENT
Rollups Such as Arbitrum bundles transactions WHICH It THEN SETTLES ON ETHEREUM ON THE CHEAP, USING FRAUD PROOFS TO ENSURE THEIR CORRECTNESS. Bob Says It is Doing Something Akin to this on Bitcoin.
CO-FOUNDER ALEXEI ZAMYATIN DESCRIBED THIS AS A “CLEAR DISTINCTION,” BETWEEN ITS OFFERING AND WRAPPED Versions of BTC, In A Telegram Message to Condesk.
The Testnet Debuts with Support From A Host of Major Crypto Firms Who Will Be Operation Nodes on The Bitvm Bridge, Such As Staking Developers P2p.org and Loble, Defi PLATI PLATI PLATI PLATE. Venture Capitalists Rocawayx and Digital Asset Manager Amber Group.
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