The first Ethereum Virtual Machine transaction on bitcoin has been achieved, the latest milestone towards the launch of a BTC-based ZK rollup.
Bitcoin startup Chainway has taken a significant stride in the space with its introduction of the first Ethereum Virtual Machine transaction on bitcoin. This is part of Chainway's continued efforts to implement ZK rollups on bitcoin, a move that may offer enhanced scalability and privacy features to bitcoin.
Diving deeper into the mechanics, rollups work by grouping transactions occurring off-chain, batching them, and then publishing this consolidated batch onto the bitcoin. This process significantly optimizes computational efficiency while still benefiting from the foundational security of the bitcoin network.
The foundation of Chainway's approach is a synthesis of zero-knowledge proofs with the Ordinals protocol. Chainway's rollup is designed to publish L2 state proofs and represent a consolidated set of transactions. Through a meticulous process, Chainway's ZK circuit will scan each bitcoin block, extract prior state proofs for verification, and incorporate user-driven transaction envelopes into the current batch.
Comparing Chainway's rollup with existing EVM sidechains provides clear distinctions. Notably, Chainway's rollup operates without the dependency on a separate network of nodes. It's built directly on bitcoin's infrastructure. In contrast, current sidechains don’t leave an actual imprint on bitcoin, and as such, their transactions cannot be validated by simply examining the bitcoin blockchain.
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