I’ve thought about the trust assumptions related to statechains for a little bit now. I’m by no means an expert, but I think “rug-risk” related to statechains hasn’t been fully presented. Most people (correctly) describe this rug-risk as, “the statechain entity can rug users if they collude
By janusz This is a very random post, but worth covering as a large number of BTC is currently being deployed on Ethereum rollups & L2s. We have done some reviews on Ethereum L2s where we mention the proving system giving users finality guarantees and I’m not sure if
why our seed round will exclusively help us onboard more crypto-natives to bitcoin Bitcoin L2s are the wild west. The ecosystem is complete anarchy – users and investors alike are unfamiliar with the tradeoffs for most systems, and most are left to wonder how things are actually connected to bitcoin. While
I’ve been working on Bitcoin Layers for over a year. Before working on this full-time, I hacked on a clunky front end with ChatGPT after my day job at Espresso. Fun times. It’s been a wild ride. It hasn’t been perfect, and figuring out how to define
We’re not sure if all BTC-derivative assets are fully backed. In the last few weeks, there has been more chatter on Twitter around BTC-derivative assets. A BTC-derivative asset is a tokenized representation of BTC that lives on another blockchain network. These assets should be backed and redeemable for 1
Good morning fam. It’s janusz and I’m back from vacation. Hitting you with some takes that are top of mind for me. First, an insight Main insight is that Babylon's second cap of deposits saw 22,500~ BTC deposited over 10 blocks. Tomorrow, the third cap
This is a post that outlines how rollups work on bitcoin without a soft fork. Tl;dr * Rollups on bitcoin is an incredibly new design space and there are many misconceptions regarding them * Rollups are blockchains that use a parent blockchain for data availability * Validiums are not real. They are
Thanks to Red Sheehan and Veronika Kütt for reading the draft. Double thanks to Veronika for drafting our initial review on Babylon (not posted yet). I took a lot of stuff from that document and used it here. Basically anything italicized. We’ve been thinking a lot about bitcoin staking
Introduction Wrapped bitcoin tokens on EVM-based chains satisfy market demand for using bitcoin (BTC) on more expressive smart contract platforms. All wrapped versions of BTC come with various trust assumptions. Traditionally, wBTC has dominated market share for bitcoin-backed ERC-20 tokens on Ethereum. wBTC is custodied by a single party, BitGo.
What’s up layer 2 enjoyooors. I’m back from Nashville with a slight case of whatever has been going around. I feel like shit, still smell like cigarettes, but man, I’m feeling quite optimistic. The previous Bitcoin conference felt very gloomy. All of the new “Layer 2” projects
At Bitcoin Layers, we are developing risk analysis frameworks for a variety of Bitcoin scaling protocols, ranging from Lightning Network to upcoming sovereign rollups. Earlier this week, we announced a generalized framework for assessing, and defining, Bitcoin scaling protocols. Today, Bitcoin Layers now has a v1 website. Together with Red
LX Research Labs raises funding from UTXO Management I’ve been bullish on the concept of “rollups” on Bitcoin for a few years now. A little while back, I remember telling people about the idea of a “Zcash rollup on top of Bitcoin” and how it could drastically improve how