BTC Ecological Potential Protocol 🧙

Previously, what we talked about were basically related to Layer 2. At the same time, there are many projects built on the BTC Layer that are also worthy of our attention. In addition, there are indeed too many projects in the BTC ecosystem this time. We will first focus on projects with large financing amounts and high volume. We will temporarily include these projects in the observation list: EASTBlue anetaBTC Mintlayer Gelios BIOP Bitsat U Protocol Mirror Staking Protocol ZKBASE TunaChain QED Liquid BTC Interlay Cashu.

Babylon @babylon_chain is a well-known project. Simply put, Babylon allows BTC to be pledged in your own wallet and provides POS services at the same time. Its main mechanism is to use time lock and hash lock technology, combined with hash time lock contract (HTLC) to achieve functions. Recently, new financing has been announced, with super high attention, and the test network is particularly popular. I have to find out what good ways to participate in the project.

Chakra @ChakraChain Chakra does a lot of similar things to Babylon, but it uses ZK (Stark's) technology, has Stark's support, and has recently collaborated with Babylon. Here's Chakra's introduction:

ChakraChain's vision is to achieve widespread use and trust of Bitcoin in various blockchains and applications through a Bitcoin re-pledge protocol based on zero-knowledge (ZK). Its goal is to bring Bitcoin liquidity to the entire crypto ecosystem, enabling Bitcoin holders to participate in the consensus and governance of different blockchains. The following technical features are available

1 Self-custody pledge: Bitcoin will not leave the user's wallet during the Bitcoin pledge process.

2 Zero-knowledge proof of pledge: Ensure verification of pledge events through zero-knowledge proof.

3 Trust-minimized Bitcoin Settlement Network: Simplify the settlement infrastructure of Bitcoin L2 solutions.

4 Re-pledge service: Verify in multiple places through proof of pledge to provide additional rights and services.

5 Derivatives: Proof of pledge can be used to create derivatives of Bitcoin assets and interact with DeFi applications.

Chakra recently has a test network to participate in, just like Babylon.

Nubit @nubit_org Nubit is the first Bitcoin-native Data Availability Layer (DA), designed to enhance Bitcoin’s data processing capabilities and strengthen the Bitcoin ecosystem.Nubit is committed to expanding Bitcoin data capacity without compromise, supporting applications like Ordinals, layer 2s, price oracles, and indexers, thereby broadening the scope and efficiency of the Bitcoin ecosystem.

1 Unlimited capacity

Nubit provides a wide range of throughput capabilities, making it possible to build modular services across all categories without restrictions.

2 Trust minimization

Nubit fully inherits Bitcoin's security, including economic security, tamper resistance, and censorship resistance, using an innovative high-performance consensus algorithm.

3 Designed for the Bitcoin ecosystem

Nubit is not only Bitcoin's first data availability layer, it is also an initiative to promote Bitcoin data capabilities and strengthen the Bitcoin ecosystem

Nubit has also opened a testnet. Because the recent financing data and institutions are not bad, it is recommended to start. This time it is a social task, and the next will be a light node. The social task is relatively simple, but I suggest you take the water as a daily routine.

Bool @bool_official Bool is a modular data availability (DA) layer that uses ZK, MPC, and TEE (trusted execution environment) technologies. The project aims to provide a decentralized and secure Bitcoin verification layer driven by MPC-based distributed key management.

Verification mechanism: A unique proof verification protocol is used to verify transactions through a decentralized network.

Scalability: The scalability of Bitcoin is improved by separating the verification task from the main blockchain.

This project itself has a general voice, so you can pay a little attention to it. They also have staking and invitation activities going on.

Fedimint @fedimint fedimint is an open source protocol for community custody and trading of Bitcoin, aiming to emphasize privacy protection and reduce dependence on large centralized exchanges.

1 Federal Trust

Fedimint manages the custody of Bitcoin by distributing trust to multiple trusted entities (called "guardians"). This approach avoids single points of failure and improves security and reliability.

The consensus mechanism between guardians ensures the security of funds, and even if individual guardians are compromised, it will not affect the overall security.

2 Privacy Enhancement

Fedimint uses privacy technologies such as zero-knowledge proofs to protect users' transaction privacy.This means that transaction information is not visible on the public ledger, thereby improving user privacy.

Through the hybrid mechanism, Fedimint can obfuscate the transaction path, making it difficult for external observers to easily track the flow of funds.

3 Scalability

The federated architecture designed by Fedimint allows the system to maintain high performance and low latency while increasing the number of guardians. This scalability enables Fedimint to handle large-scale transaction needs.

There has been no news about this project recently. I paid attention to it entirely because of the high financing. If there is any further news, we will continue to follow up.