ZK Rollups are coming to Bitcoin
Citrea's public devnet is live, paving the way for rollups on Bitcoin
Hello Bitcoin Builders,
We’re now a few months past the Bitcoin halving. Exuberance has calmed down in the ecosystem, but Bitcoin Builders continue to ship.
Here’s the latest.
Citrea, a ZK rollup on Bitcoin, is getting ready to go live. Bitcoin Magazine writes “Bitcoin’s First ZK Rollup is gearing up for launch” featuring Orkun from Citrea.
Citrea aims to use Bitcoin as a data availability layer. In addition, to move Bitcoin in a trust-minimized fashion, Citrea is building Clementine, a two-way peg (a bridge) that “optimistically verifies ZK proofs.”
Inspired by BitVM, this approach unlocks an important innovation in Bitcoin scaling: a 1-of-N trust assumption.
“We call it trust minimized because now we have this 1-of-N assumption. As long as one person in this N people is honest, then your money is secure," Orkun emphasized.
Citrea launched its Public Devnet earlier this month.
Layers
An OP_CAT testnet is live! Catnet is a Bitcoin signet that will enable developers to test the implementation of Bitcoin Circle STARK Verifier.
This announcement follows Starkware’s proposal to scale Bitcoin with ZK-STARK following a potential OP_CAT Bitcoin upgrade.
DLC Link hits $500k TVL. From our April issue:
“DLC.Link aims to be the first native Bitcoin cross-chain protocol that leverages Discreet Log Contracts (DLCs). Using DLCs, dlcBTC does not require Bitcoin deposits to be held with a custodian or bridged to a separate blockchain.”
Bitcoin Layers assesses the B2 Network. It’s currently listed as a high-risk chain.
The Rollup continues to publish great educational content on Bitcoin Layers. This week they released:
House of Chimera releases a new Bitcoin Layers List. Bitcoin Layers’ founder gives some honest feedback on the list.
Layer 1 and Meta Protocols
CoinGecko reports that Ordinals & Runes Hit $1 Billion Market Cap. Also, the May trading volume reached $2.25M.
Other
Bitcoin continues to get political, especially in the US. “Trump met with the largest Bitcoin miners in the country today, pledging to support them on the global stage” via Bitcoin Magazine.
Another public company, DeFi Technologies, put Bitcoin on its balance sheet. Blockworks writes that Bitcoin treasury strategies proliferate in a high-inflation world.
Thanks for reading!
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